In H1 2026, Dubai's retail estate market retained a solid foundation despite the caution shown by some tenants amid regional uncertainty. Lease renewal activity in key shopping malls declined, resulting in the emergence of vacant space. The shortage of quality retail space supported rental growth in landmark shopping malls and in selected segments of top malls, while owners continued to expand and upgrade their flagship malls.

The bulk of new development will shift to H2 2026, driven by the opening of small-format community malls serving residential clusters. A mega project worth USD 16.9 billion has been announced in the south of the Emirate, involving Dubai South and Majid Al Futtaim. Russian retailers maintain their presence in the market — despite the suspension of some projects, new brand openings continue.