Mohamed Iqbal Alwi, Vice President and Managing Director of Al-Sarh Holding Company and an expert in retail, malls, and shopping centers, emphasized that the success of shopping centers and retail projects is no longer linked solely to the size of the project or its investment cost, but rather depends primarily on understanding customer needs and conducting a thorough market analysis. He emphasized that a successful investor is one who identifies their target audience before embarking on any project.
During his appearance yesterday, Tuesday, June 23, on the program "Behind the Scenes of the Retail Mall Industry," hosted by Mr. Khaled Hamza, Al-Alawi explained that the first step in developing any commercial project is to analyze the market and competitors, identify strengths, weaknesses, and available opportunities, and study demographic changes and the needs of target segments—whether young people, families, or middle-income earners. He noted that urban expansion and increasing congestion in cities require developers and investors to think differently when establishing commercial projects, by providing integrated infrastructure that includes operational systems, human resources, and modern technologies, thereby ensuring the project’s sustainability and growth potential.
He added that successful projects do not necessarily have to start on a massive scale; rather, they can be developed gradually in well-planned phases, allowing investors to expand in a safe and balanced manner, while maintaining the quality of services provided to customers. Al-Alawi emphasized the importance of continuous innovation in shopping center management, noting that consumer needs are constantly changing, especially with the growth of tourism and the diversity of visitors and cultures, which requires constant development of the facilities, entrances, facades, and services provided within shopping centers.
He noted that global shopping centers maintain their appeal by continuously updating their various elements, whether through improving designs, developing entertainment areas and restaurants, or enhancing access and transportation, thereby enhancing the visitor experience and increasing foot traffic. He also emphasized that technology has become an essential element in the management of modern shopping centers, ranging from operating systems, inventory management, and supply chains, to customer data analysis and the provision of smart services that help improve the shopping experience and save shoppers time and effort.
Al-Alawi noted that the future of the retail sector is closely linked to digital transformation and the use of modern technologies, explaining that shopping centers that successfully leverage technology and continuously develop their services will be best positioned to compete and attract visitors in the coming years.
In closing, Al-Alawi emphasized that continuous change and keeping pace with customer expectations have become a necessity rather than an option, especially in light of the rapid transformations the global retail sector is undergoing following the changes brought about by e-commerce and the COVID-19 pandemic.
