Milan a top retail destination for UAE residents

Galleria Vittorio Emanuele Milan
Milan and Italy continue to be a top retail destination for many UAE and Middle Eastern residents, according to a report.

Jones Lang La Salle published its latest report on retail real estate trends in Milan which provides some interesting analysis of one of the world’s top fashion destinations.

The report titled “Milan loves Shopping” will be presented today, during an event organized at Spazio Forma. It analyzes the real estate market of the nine main fashion streets in Milan (Corso Vittorio Emanuele, Via Dante, Via Manzoni, Via Montenapoleone, Corso Venezia, Via Torino, Corso Vercelli, Corso Buenos Aires and Vittorio Emanuele Gallery).

In the complex world of retail, the high street segment represents a constantly interesting evolving and changing theme. Attention to this particular market has lately become particularly pressing for national and international retailers, as they consider it as a fundamental part of their core expansion strategy. The shops in the main streets of Milan are perceived by consumers as a commercial hub offering a varying, high-quality and sometimes unique offer. Despite the crisis, the luxury goods market continues to perform well has not been affected as much as more mainstream retailers.

“This report is our response to growing demand for information regarding this particular market segment, analyzing the main commercial streets of Milan, a city known worldwide as the capital of fashion. We have looked at existing brands, sectors of activity, the expansion process, rent values and much more. Jones Lang LaSalle’s considerable knowledge of the retail market is combined with the 40 years of experience of Sincron Inova, a firm specializing in the analysis and statistics of the retail sector, to create a major qualitative and quantitative analysis of this important commercial segment, now experiencing a rebirth,” Camilla Bastoni, Head of Development and Regeneration Advisory and Research at Jones Lang LaSalle in Italy, said.

“For those working within the retail sector in this region, there is potentially much we can learn from this report. There is an opportunity to learn from what is happening in Milan to help anticipate and analyse potential new trends in the retail sector in our part of the world, particularly given the significant investment that has been made in the Middle East in recent years into developing a range of premier shopping malls which include many European luxury and High Street brands.”

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