The United Arab Emirates will be getting the first Macy’s department store located outside of the United States ever.
The retail giant is slated to open in Spring 2018 as part of the new shopping center Al Maryah Central in Abu Dhabi. Gulf property developer and Dubai-based retail conglomerate Al Tayer Group says that the mall will also feature the second international Bloomingdales. Where is the first? Dubai Mall ...obviously.
The stores will lease a combined 520,000 square feet total, which equals about a third of the total leasable space of Al Maryah Central . The two stores will anchor the shopping center. Although both companies are operated by Ohio-based Macy's Inc, there is not a fear that the retail behemoths will be in competition, as they target different demographics, with Bloomingdales operating as the more-upscale brand.
The mall, which will boast 2.3 million square feet, is being developed by Gulf Related on Al Maryah Island. The shopping center is projected to cost around $1 billion to build. Many see this development as part of Abu Dhabi's aim to grow its tourism industry. From the New York Post:
Kevin Ryan, managing director of development for Gulf Related, said those airline connections, an affluent local population and the rapid growth of the shopping scene in the country are a draw for retailers.
“The more and more retail you have, the more attractive it becomes…. It’s become a major destination,” he said of the Emirates. “It’s a strong local market that’s supplemented by tourism.”