The report tracks headline rents across the world’s most sought-after retail destinations, placing Fashion Avenue firmly among the top tier.
Global retail trends continue to point upward. 58% of the global retail streets tracked recorded rent increases, which shows that demand for prime space is still far greater than the supply available. This pattern is even more visible in Dubai. Super regional malls are running at near full occupancy, and with a 9% rise in prime retail rents, Dubai sits among the top five cities globally for rental growth.
Dubai’s luxury retail landscape is somewhat different from other ultra-prime markets. In cities like London and New York, luxury brands dominate high streets such as New Bond Street and Upper Fifth Avenue. In Dubai, the ultra prime retail experience sits almost entirely inside key super-regional malls. There are many experiential offerings combining retail, F&B, leisure, and entertainment, such as the Van Cleef & Arpels Maison in the Dubai Opera District or the Dior collaboration with Nammos in Jumeirah, but malls remain the core retail format in the city.
Dubai’s ultra prime high street equivalent is Fashion Avenue in Dubai Mall. It brings together the world’s top luxury brands and commands the highest rents in the city, and Dubai Mall remains one of the most visited retail destinations worldwide, with more than 111 million visitors in 2024 and expectations of surpassing this in 2025.
Retail remains the cornerstone of Dubai’s economy, contributing 25.3% of its GDP, the highest share of any sector, and this momentum is supported by powerful tourism drivers. Dubai has some of the highest levels of brand penetration globally, along with one of the highest levels of retail GLA and spending power per capita. The city is also attracting unprecedented levels of global wealth, with one new millionaire moving to Dubai every hour, while population growth is at its highest recorded pace.
These shifts are influencing how retailers shape their offerings. Brands are investing more in experience, building digital layers into the shopping journey, and creating phygital concepts that resonate with both international visitors and a diverse resident population across income levels.
As Dubai opens the 31st Dubai Shopping Festival this December 2025, and enters peak tourism season, the city continues to strengthen its position as a global retail hub.
