Slated to represent three of every four people in the global workforce by 2025, millennials have preferences and spending habits that directly impact telecommunications service providers and content providers. Global network operators should plan for continued capacity growth, greater flexibility, a larger array of services and corresponding billing models to address societal changes brought on by the millennial generation, according to CommScope research into the lifestyles and spending trends of people born between 1980 and 2000.
Morgan Kurk, chief technology officer, CommScope said: “Millennials will represent the lion’s share of purchasing power in a few years, and since they prioritize devices and access to fast internet, they are expected to continue to put high levels of spend towards connectivity. However, they need to be served differently than previous generations in order to meet their expectations.”
Dubai needs more large-scale malls in order to curb rising retail rents, according to one of the emirate’s biggest family trading companies, which manages over 370 brands.
The emirate is famous for its impressive retail landscape, with consultancy firm Savills ranking it fourth in its Global Retail Destination Index 2016 ahead of London’s Regent Street, New York’s Fifth Avenue and Paris’ Champs-Elysees.
Dubai is already home to The Dubai Mall, the world’s largest retail hub, and Mall of the Emirates, and there are more mega retail projects in the pipeline. Dubai Holding is working on Mall of the World, which will span a land area of 1.7 million square metres. Ilyas and Mustafa Galadari Group has said it is committed to developing the stalled Mall of Arabia retail complex, initially announced in 2008, in the next 10 years.
Abdulla Al Gurg, group general manager of Easa Saleh Al Gurg Group LLC (ESAG) told Zawya he believed another mega mall was needed in order to bring the rising retail rental rates under control.
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