People back to shopping centres after pandemic - GulfToday

People back to shopping centres after pandemic


Photo used for illustrative purpose.

The traditional shopping experience will never be copied. It is true that during COVID 19 the online business grew sharply. However, post-pandemic, we see people return to our shopping centres because it’s not only about shopping where the online segment you mention is focused on; people come to shopping centres to enjoy time with friends and family.

It is much more than just shopping. It is about the whole experience and vibe where people can come together and spend time together while enjoying a shopping experience. 

This was revealed by D. John Miller, CEO and Founder at DJM Capital Partners, during an exclusive interview with Gulf Today. Highlighting the higher inflation, Miller noted that DJM Capital and his personal experience have come across four decades where they saw inflation and deflation.

“We saw the different Heads of State and currency fluctuation. We have seen more growth recessions, and with that experience comes knowledge on how to deal with each era, depending on the circumstances and the impact of that factor on the business. I don’t see inflation as a challenge for us; however, we do not take it lightly. At the same time, we will balance our operations based on the development of the figures and statistics that are available to us,” Miller added.

He mentioned that there is no doubt that buying real estate is a straightforward process that many high-net-worth people favour as it is an easy, transparent transaction.Investing in shopping centres could be an unclear operation for them, and they may get worried about how they will manage, who will do it, how to get the tenants, how to arrange the facility management, and so on.

“So we are introducing products they can invest in shopping centres as straightforwardly as any other real estate unit. We do this by giving them clear advice and a transparent deal where we will manage the entire operation and keep them posted and aware of how their investment is doing. So we are looking to welcome such calibre into our future projects.”

“With our experience, skills, and track record not only managing but creating from a concept into fully operational centres, we believe that we can advise about the best practices and steps of creating successful and engaging committees that will maximise the potential of any centre within the minimum timeframe,” Miller concluded.

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