September 2016 Newsletter

Welcome to our September 2016 MECSC Newsletter.

The RECon Conference to be held on October 30, 31 and November 1 at the Ritz- Carlton Hotel DIFC - the Best Ever!!!

RECon - One Day Intensive Course in Property Management - click here for

more information DAVID MACADAM

Chief Executive Officer ICSC Education - Certification Exams - Now Available in English & - CSM

Arabic Brochure | CLS Arabic Brochure

A New Slate of MECSC Board Members is Required for the new term of November 1, 2016 to October 31, 2018

Current MECSC Members whose membership is in good standing are able to stand for election to the MECSC Board of Directors provided that the following requirements are delivered.

A number of items must be complied with as outlined in our recently updated and approved MECSC By-Laws. Please click on this link to view the MECSC By-Laws

Please read these By-Laws, particularly those items regarding becoming a member of the Board of Directors in paragraphs Article IV Section 1 and most importantly items outlined in Article IV Section 2.

Becoming a Board Member of the Board of Directors requires the following:

1. Must be a member of the MECSC / ICSC whose membership is current and in good standing. 2. Must be nominated in writing and supported by two (2) members of the MECSC / ICSC whose membership is current and is in good standing. Nominations must be received by October 1, 2016 to Mariz at [email protected]. The Annual General Meeting which is slated to be held October 31, 2016. 3. Board Members must be elected. Election takes place with a combination of on-line voting, proxy voting and voting in person during the Annual General Meeting on October 31, 2016. 4. Elected Board Members will be elected with the highest number of votes.

Growth of the retail industry locally, regionally and globally is facilitated through your support of the MECSC / ICSC through building relationships in the industry, education programs, Next Generation Networking Events and RECon Conferences. Your support of the organization and stewardship as a Board Member is what drives this growth and opens new horizons for all in the retail industry.

If you are a MECSC Member in good standing and you would like to be considered to be elected as a Board Member, it is required that you provide nomination forms which are filled in and returned to the MECSC office to Mariz at [email protected] before October 1, 2016. Please click on this link to download and fill in the nomination documents.

RECON MENA 2016 Date: October 30 - Pre-Conference Property Management/ Cocktail Reception October 31 and November 1 - Conference and Exhibition Day 1 and Day 2 November 1 - Gala Dinner/Awards

• Venue: Ritz Carlton Hotel, DIFC,

RECon Theme 2016: The Customer and Innovation

The shopping centre and retail industry continues to change rapidly and evolve, driven by a new, dynamic, global transformation providing service, connectivity and convenience to customers. Relationships among shopping centres, retailers, service providers and customers are expected to include the physical store and the digital sphere to create a seamless integration of experiences.

Conference Agenda and Expert Speakers

Who will you hear? The greatest minds in retail industry including sessions discussing the latest trends, important strategies and solutions for growing your business.

DELEGATE REGISTRATION - REGISTER ONLINE

Regular Offer All-Inclusive Pass to all events from Day 1-3: Member: USD 1,250.00 (AED 4,600.00) Non-Member: USD 1,700.00 (AED 6,250.00)

* Registration for individual events are also available (Conference vs. Gala), please contact MECSC office at: [email protected]

Team Discount We offer a discount of AED 367 (USD 100) per delegate off the applicable registration fee when three or more delegates register at the same time from the same organization and from the same billing source.

*Non members can apply for MECSC/ICSC membership and can take advantage of the applicable member rate prior to registration.

New this year! Mobile App for RECon

Our Primary objective is to make it easy as possible for our delegates to fully utilize the features being offered by the RECon mobile App and enhance their overall experience at RECon. The mobile app will ensure delegates are kept up to date with the latest information.

The app enables you to message attendees and request meetings, create a personalised agenda and submit live feedback after each session.

Essential Benefits of RECon Mobile App

o Easy to use and convenient o Easy one-touch access o Receive instant notifications o Have pertinent scheduling information at your fingertips

Plan your RECon trip to Dubai through Emirates Airline

We’re pleased to inform you that Emirates Airline has proudly been selected as the partner airline for ReCon MENA . Emirates has excellent connections to all of the six continents via Dubai with more than 150 current destinations worldwide – and we are expanding our route network all the time.

Use your Promotion Code to get special fares on Emirates.

Promotion code: EVE6RCN

Travel Validity: 25 th October – 5 th November 2016

Book your travel today at http://www.emirates.com , and enter the above promotion code when you book.

Terms and conditions

 Outbound and inbound travel must be within the validity period  Destinations: Offer valid ONLY from and to gateway cities in which Emirates operates direct flights.  Discount applicable: 10% off on the prevailing lowest online fare on Business Class and on Economy Class return fares. First Class no discount is applicable.  Offer valid ONLY for return travel to Emirates gateway cities to Dubai and not from Dubai  Offer extends to companions travelling with attendees.  The offer may not be used in conjunction with any other promotion, discount or special offer.

Regular charges applies for any modification and changes as per the fare rule and conditions.

RECON SPONSORSHIP - Get Involved! Make a Marketing Statement in the MENA Retail Industry!!

Promote your retail developments, retail concepts, products or services to a quality audience of decision makers at RECon Middle East and North Africa.

Event Sponsors enjoyed showcase marketing in our exhibition area, representation in our RECon Conference Event Catalogue, web site, digital displays, display boards, speaking opportunities and recognition in our Shopping Centre Awards Gala and Education Conference. The best and the brightest minds from the retail industry around the world are in Dubai for our RECon Conference. Your ability to put your name and brand forward to those individuals making the corporate business decisions is what you can expect from being a sponsor of RECon.

Click on the following links to view the RECon MENA 2015 Post Event Report | 2015 RECon MENA Teaser

ICSC / MECSC Deal Making Sessions

Deal Making is defined as the Art of crafting deals through negotiations focused on an integrative value creating process. Sign up now to get the deal making meetings and sessions you need for October 31 and November 1.

 Our team is now arranging meetings and appointments for all delegates at the RECon Conference this year.  Please let us know who you would like to meet and make progress on the deals you have been working on  Please connect with [email protected] or [email protected]  Our team Ian and Reymond will ensure you appointments are established long in advance of the session.

To #REConMENA16 Sponsors and Partners - Your enthusiasm and great support have added value to RECon MENA. A heartfelt THANK YOU for your commitment and your partnerships with us is vital to the success of this event. You are truly appreciated.

ICSC MENA AWARDS 2016

Awards Jury

Geji Masisela Sanjay Mehta Phil McArthur COO Associate Director Maimunah Lizelle Fitoussi Alex Andarakis Founder, Managing KINAN Marketing – Shebani CMD Andarakis Advisory Director International Shopping Malls General Manager Head of Marketing Services McArthur+Compan Real Estate Majid Al Futtaim INMA MBI Group y Development Properties (CJSC)

Nada Abou Saab Stephanie- Mohammad Iqbal Marketing Avijit Yadav Alexandra Chartier, B.H. Alawi Pam Bryson Director Shopping COO CMD Board Member & CMD Malls GLA Property Marketing Director CEO Consultant Majid Al Futtaim Management Al Farwaniya Red Sea Markets Properties Property Dev Co Ltd.

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ICSC Foundation

The ICSC Foundation is active in the MENA region again. Raising sponsorship donations from the leading shopping centre owners and retail groups in the MENA region.

All donations raised are invested in education programs and scholarship programs in the MENA region.

Please contact our team [email protected] or [email protected]

Link to the video

MECSC Membership Renewal time for your MECSC membership???

 Target of 1,250 members at the end of the year 2016  Membership has grown 54% from 2012  New this year! We are introducing color coded membership cards for our members.

White cards for our members less than two (2) years Blue Cards - Five to Nine years (5 - 9 years) Silver Cards - Ten to Fourteen years (10 - 14 years) Gold Cards - Fifteen years+ (15 years+)

 On renewal, our team is reissuing the cards depending on your time with the MECSC as a member.  Full time MECSC employee, Ian, handles membership on a day to day basis through constant follow-up, monitoring and engagement with MECSC members and prospective members. Call Ian now on +971 56 477 6536, email [email protected] .

Jeddah Chamber of Commerce & ICSC/MECSC

Jeddah Chamber of Commerce and the MECSC are to jointly host an event in Jeddah slated for early February 2017 . As plans firm up we will keep you posted on the event timing and how you can participate.

ICSC Certifications ICSC Certifications

Since their inception nearly 50 years ago, ICSC Professional Certification has given special recognition to those who demonstrate the highest level of competency in their field, proven through experience, education, examination and professional ethics. Becoming ICSC Certified gives special recognition to those who demonstrate the highest level of competency in their specialty, marking designees as one of the very best at what they do..

Know More

Exams are taken by appointment in March, June, and October annually.

 CSM - Management  CMD - Marketing  CLS - Leasing  CDP - Development  CRX - Executive Leadership  SLD - Specialty Leasing

ICSC Certifications Video Teaser | ICSC Certifications - Flyer

ICSC – MECSC Custom One benefit which our members can enjoy is the delivery of custom ICSC – MECSC Education Programs Education Programs delivered within their own offices.

Our team at the MECSC with the support of the ICSC Education Team in New York are able to custom create specific education programs. Special Offer Whether you require more focus on Property Management, Leasing, Marketing or Finance we can assist your organization for delivery of your training needs. We can host these education programs in your offices or in offsite venues.

GLA Management the first ever MECSC on site education program delivered in held September 2016.

For more information please contact David Macadam at +971 50 450 6705 or email to [email protected] . John T. Riordan School for Retail Real Estate Professionals SAVE THE DATE!!! April 16-20, 2017

The ICSC/MECSC Schools for Professional Development (Levels 1 & 2) are 5-day programs which offer participants the finest learning experience and an unmatched exchange of industry experts and executives from around the region. Disciplines include Management, Marketing and Leasing in Levels I & II. Both levels are held con-currently and attendees can only attend one level for the entire duration of the course.

• Target: 150 delegates in total for Level 1 & Level 2

Click here to view the JTR Video Teaser 2015

REGISTER Early for 2017 ONLINE

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MECSC DIRECTORY 2016 - Only Few Copies Left, Please Grab your Copy if you haven't done so!

The MECSC Directory includes MENA region-wide Retailers, Fit Out experts, HR firms, Service Providers, Leasing and Advisory Groups, Architects and of course Shopping Centre information - A go-to guide for professionals in the retail industry in one bound document.

• Front Cover for 2016 Directory – IMG World of Adventure • Printed Copies : 1,500 copies • Online version of the directory available to MECSC members via this link

• Malls Listed : Over 500 mall listings

RETAIL PEOPLE MAGAZINE September 2016 Issue: Grab your copy now!

Retail People Magazine Theme – Specialty Retail

Learn from the hands on experience of the industry leaders. Articles are full of new and trending information!!

Printed copies: 1,500 copies

Online version available on MECSC website ( www.mecsc.org )

A great opportunity to raise your personal profile in the retail industry. Join in!! Viewed by over 10,000 readers quarterly in 45 countries. Sponsors are also welcome and many of our members have expanded their marketing programs using our Retail People Magazine. We urge you to do the same!!

2016 NEXTGEN Networking Events January 19 - NextGen Networking Event in , January 21 - NextGen Networking Event in ,

February 16 - NextGen Networking Event in Burj Rafal Kempinski Hotel, , March 17 - NextGen Networking Event in Ezdan Mall, Doha, April 19 - NextGen Networking Event in Shangri-La Hotel, Dubai, UAE September 28 - NextGen Networking Event in , October 10 - NextGen Networking Event in Jeddah, Saudi Arabia February 21, 2017 - NextGen Networking Event in Riyadh, Saudi Arabia

To register as a participant, kindly visit www.mecsc.org .

For sponsorship opportunities, please contact Lea Venezuela +971 50 708 9235 or email [email protected].

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MECSC MEMBERSHIP - Benefits

Corporate Hotel Rates Members can avail corporate rates in the following hotels- BurJuman Arjaan Rotana Nuran Marina Serviced Residences Vida Hotels and Resorts The Address Hotels and Resorts

Armani Hotel Shangri-La Hotel

Hotel Corporate rates outside UAE Shangri-La, At The Shard, London InterContinental, Doha Jeddah Marriott Hotel, Saudi Arabia InterContinental Regency, InterContinental Jeddah, Saudi Arabia St.James Hotel & Club, United Kingdom

Please mention your MECSC ID when making hotel room reservations at St. James Hotel London to avail of the MECSC corporate rates.

The interiors of St. James’s Hotel and Club have undergone a complete renovation by an international team of architects and designers led by award-winning interior designer AMJ Design, from Berlin. Each of the luxurious 60 guest rooms and suites reflects Althoff Hotels attention to detail, incorporating state-of-the-art technology and exquisite furnishings. Many have their own balcony and views over the rooftops of the historic St James’s district, near Mayfair. The penthouse suite features a large roof top terrace unrivalled in this part of London.

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SHARE NEWS OR ARTICLES ON MECSC MONTHLY NEWSLETTER! If you wish to include news or articles about your organization on our Monthly Newsletter, please email [email protected] We aim to circulate the Newsletter on the last week of each month - please submit before the 23rd of every month .

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SHOPPING CENTRE NEWS

Dubai malls operator celebrates $300m bond for expansion plans

Alain Bejjani, CEO at Majid Al Futtaim Holding, rang the market-opening bell on Monday to celebrate the listing on Nasdaq Dubai of a $300 million tap under its existing $3 billion conventional bond programme. The capital raised by the bond tap will support Majid Al Futtaim’s ongoing expansion in shopping malls, grocery, retail, residential communities, Alain Bejjani CEO Majid Al Futtaim Holding leisure, health and other sectors across the Middle East and Africa, a statement said. The bond tap was issued by MAF Global Securities, part of the Majid Al Futtaim group. Previous issuances by MAF Global Securities which are listed on Nasdaq Dubai include a 7 year $500 million bond listed in July 2013 and the tapped instrument, a 10 year $500 million bond, listed in May 2014 Read more...

Al Madani inaugurates German denim brand in UAE

Renowned German denim brand, Mustang Jeans, have finally arrived in the region with their first ever boutique in the UAE opening its doors at Ibn Battuta Mall expansion. Mustang’s opening ceremony was held on the 24th of September at boutique premises in collaboration with their exclusive partners in the country, leading corporation, Al Madani Group, who are credited with introducing the brand to this market.Commenting on the inauguration, Mr. Mohammad Al Madani, Chairman & CEO- Al Madani Group said, “It is our great pleasure to be presenting this iconic German denim brand to not just the UAE but to the region as a whole. Mustang is a welcome addition to the AMG brands portfolio, perfectly complementing existing categories. As the first franchisee of the brand in the Middle East, we intend to uphold and further Mustang’s reputation while working on some concrete expansion plans for the near future.” Read more...

Mall of Qatar to create 8,000 new job opportunities nationwide

In the lead-up to the soft opening of Mall of Qatar, it has been revealed that the multi-billion QAR project--designed to serve as the region's ultimate shopping, entertainment and dining destination--will generate about 8,000 new jobs nationwide. This impressive figure indicates that Mall of Qatar is set to play a pivotal role in the country's economic growth and diversification; more importantly, it suggests that the project will help bring to life the Qatar National Vision 2030. Mall of Qatar is opening its doors to the public in the last quarter of 2016. With a total area of over 500,000 sq. m, when fully operational the sprawling complex will boast over 500 shops including over 100 F&B restaurants -- in the fit-out stage- -each of which is expected to produce a number of employment opportunities spanning the areas of sales, management, operations, marketing, and the like. Read more...

Bahrain's Amlak plans renovation of portfolio of souqs

Amlak, the Bahrain-based real estate investment firm, has unveiled plans to transform the Souq Al Buhair into a modern mixed-used facility. The overhaul of Souq Al Buhair is part of Amlak's plan to re-develop all existing markets under its portfolio. The plan aims to either re-develop or

maintain the souqs in order to accommodate more tenants and further services catering to the daily requirements of residents, the company said in a statement. Read more...

UAE builder wins $105m deal to expand Ajman

UAE-based builder Khansaheb has been awarded a $105 million contract to expand and upgrade Majid Al Futtaim’s .Under the terms of the deal, the contractor will more than double the size of the existing mall from 32,000 sq m to 70,000 sq m. Khansaheb, Interserve’s

construction associate business in the UAE, will also build a new 2,400- capacity car park as part of the contract, Construction Week Online reported. It quoted Steve Flint, Khansaheb’s general manager, as saying: “This contract win demonstrates Majid Al Futtaim Group’s ongoing confidence in Khansaheb’s capabilities in the retail sector, as it closely follows the successful delivery of the expansion of Dubai’s premier shopping centre, .” Read more...

Majid Al Futtaim set to Officially Open in March 2017

Cairo - Majid Al Futtaim, the leading shopping mall, retail and leisure pioneer across the Middle East and North Africa, is moving ahead with the final phases of Mall of Egypt in preparation for the opening of the super-regional mall in March, 2nd, 2017. Mall of Egypt represents an investment of EGP 6 billion and will deliver on the company's pledge to provide great moments for everyone every day in Egypt. The opening of the mall will see the launch of Ski Egypt, Africa's first ski slope and the country's first VOX Cinemas Cineplex, while providing an entry point for some of the world's leading international brands to enter the country for the first time. Read more...

Aldar plans Al Ain's first VOX Cinema amid mall expansion

Aldar Properties has announced plans to open Al Ain's first Vox Cinema which will be part of the ongoing AED410 million expansion of Al Jimi Mall. When it opens its doors in the first quarter of 2018, Al Jimi Mall VOX Cinemas will feature eight screens on the first floor of the new West

Wing, increasing Vox Cinemas' footprint to a total 193 screens across the region, a statement said. Jassem Saleh Busaibe, chief asset management officer, Aldar Properties, said: "With a great deal of expansion happening at Al Jimi Mall as part of our AED410 million programme, VOX Cinemas is just one exciting chapter in a much bigger story that will enhance our retail offering in the city." Read more...

Revealed: Meydan Mall One to have world's biggest dancing fountain

Meydan Group has revealed more details about its plans to build the Meydan One Mall in Dubai, which will feature the largest dancing water fountain in the world, measuring 400m in width and 100m in height. The

centre point of the much anticipated Meydan One mega development, launched in August 2015 by Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, the Meydan One Mall will cover more than 30,000 sq m of indoor and outdoor space, with 529 shops including two major department stores and an 11,200 sq m hypermarket. Read more...

RETAIL NEWS

Giorgio Armani opens first Armani Casa store in Jeddah

Jeddah - Giorgio Armani opened doors to its first ever freestanding Armani Casa store last week in Jeddah’s Rawdah district. With 56 stores in 40 countries, the underlying concept behind the Armani/Casa store is to create a distinctive atmosphere through a combination of products that

range from furniture and furnishings to accessories, décor and fabrics.

Created for both day and night zones, designs are carefully selected for their compatibility in terms of shape, material and color, displayed within a bright but softly lit environment. Read more...

Alabbar-led vehicle closes in on $2.4bn takeover of Americana

Kuwait Food Co's (Americana) biggest shareholder said on Wednesday conditions for Gulf-based Adeptio to buy its 69 percent stake have been met, paving the way for the completion of the $2.4 billion deal. Al Khair

National for Stocks and Real Estate said Adeptio will now proceed with the acquisition of the shares according to the Kuwait market's rules and regulations. Read more...

Egypt's retail market is back in business, says report CAIRO -- Largely recovered from the political and economic instability of 2011 and 2012, Egypt is back to enjoying a fast-growing economy, according to A.T. Kearney's 'Egypt's retail market (cautiously) Back in Business' report. The face of the retail market in particular is changing, with the discounter segment growing rapidly as the industry steadily shifts away from traditional retail towards modern trade. Forward-thinking

investors have been able to find their footing in a country that is now back on solid ground. Read more...

Dubai conglomerate Al Ghurair takes first step into F&B franchisingUS brand Smoothie King has announced that it has expanded into the Gulf via a partnership with Dubai conglomerate Al Ghurair. The franchise said it had opened its first regional outlet in the BurJuman mall, in Bur Dubai, with a view to launching an additional 45 stores across the GCC over the five years. Al Ghurair Retail, a division of the family giant, has the rights to operate the franchise in the GCC. It is the first move into the food and beverage sector for Al Ghurair Retail, which currently represents six fashion brands. Al Ghurair also owns and manages the Al Ghurair Centre, a mall in the Deira district of Dubai. Read more...

UAE investment firm buys stake in Saudi's Ice Cream Dana

UAE-based investment firm Food Capital and its coinvestors have announced the acquisition of a significant stake in Saudi Arabia's Ice Cream Dana group. Ice Cream Dana owns 20 stores in Saudi Arabia operating under the Yummy Yogurt, Bun & Patty, Pimneto and Maltoot

brands. As part of the deal, plans have been revealed to open 27 additional outlets under its existing brands within the next three years. Food Capital said in a statement that it aims to achieve 40-50 company owned and operated outlets by 2019. Read more...

Industry Insight: In retail, it's all about the customer Retail sales continue to grow globally. In the US retail market, one of the worlds largest, the annual turnover today is greater than $4.5 trillion. Ecommerce sales accounted for approximately six per cent of the total annual retail turnover. Surprisingly the growth rate of ecommerce has slowed. Retail analysts Robin Report states that the growth of ecommerce has slowed from 30 per cent in 2004, to 16 per cent growth in 2014 and growth is expected to continue to slow into the future. Why? Read more...

Our team at the MECSC looks forward to your ongoing feedback and support for our organization. We value your communication and feedback on our plans, goals and objectives as a growing and vibrant retail organization in 2016.

MEMBER UPDATES Welcome on Board! NEW MECSC MEMBERS!!! See who have recently joined the organisation

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