The Senior Team Case Studies Our Clients - McARTHUR · The Senior Team Connect with our ... to host shows on the scale of Cirque du Soleil. Mall of Qatar also boasts amongst the world’s

Global experience in shopping centre planning, development, leasing and management

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Case StudiesRead about recent project execution

Our ClientsExplore our advisory

and leasing experience

The Senior TeamConnect with our

international expertise

Issue 1 Winter 2015 - 2016

The McArThur System®Discover our unique delivery model

Global experience in shopping centre planning, development, leasing and management

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www.mcarthurcompany.com 32

IntroductionMall of QatarScope of workFinancial EngineeringOur ClientsThe McArThur System®Team Experience Mall rescue: Cityland Meet the Team International Offices

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Contents

WWW.MCARTHURCOMPANY.COM

M c A R T H U R + C O M P A N YS H O P P I N G C E N T R E S P E C I A L I S T S

D E V E L O P M E N T A D V I S O R Y + R E T A I L L E A S I N G + M A N A G E M E N T A D V I S O R Y

GLOBALLY EXPERIENCEDSHOPPING CENTRE & RETAIL SPECIALISTSGlobally ExpEriEncEd ShoppinG cEntrE & rEtail rEal EStatE StratEGiStS


Welcome to the first issue of the McARTHUR + COMPANY Magazine, designed to introduce you not just to our firm, McARTHUR + COMPANY, but to provide insights into the world of developing and running shopping centres.

A factor that frequently crops up in business and marketing management textbooks is establishing exactly the type of business you’re in. Although seemingly obvious, this can be profoundly deceptive. In the case of McARTHUR + COMPANY, it’s true we help our clients invest in and build shopping centres – but in actual fact we’re in the retail business.

Nothing works unless retailers want to rent the space, so it’s crucial to think from a retail perspective. At the same time we also need to focus on the end user, the consumer. Making sure you get it right for both the retailer and consumer leads to secure and profitable business for owners and investors.

Another consideration is the demographic characteristics of the shopping centre’s trade area. Whether it’s one of the world’s biggest shopping centres, or a more localised community mall project, it’s our job to advise investors using meticulous research to develop an informed strategic position. We make it our business to understand consumer behaviour, source the right retailer mix for the specific project in hand, and gather our collective experience to produce the end result.

Researching the market to get the right retail mix covers so many aspects – the location; the potential consumers within the trade area; the shops they want; the supermarket with the best fit; the amenities they need – these are all key components.

During the development of our firm’s business plan, we examined the shopping centre industry globally and saw many international property consultants providing some services to shopping centre owners. What we noticed was that none specialised specifically in shopping centres and retail real estate. We found our market position and focus… McARTHUR + COMPANY only focuses on retail and mixed-use real estate. We have deep experience in the real world of shopping centre planning, development, leasing and management. We are proud to provide what could be seen as an end-to-end solution. We recognise this is our unique expertise, and we’ve been delighted to serve many prestigious clients in the retail development community.

We hope you enjoy the first issue of the McARTHUR + COMPANY Magazine and the background to how we approach the dynamic world of shopping centre investment and development.

Phil McArthur, CrX, CDP, CSMFounder and Managing Director

Phil McArthur, Founder and Managing Director of McARTHUR + COMPANY, shares his views on the key factors that make a successful shopping centre investment and some of the strategic foundations on which the company was built.

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“Making sure you get it right for both the retailer and consumer leads to secure and profitable business for owners and investors”+ Phil McArthur, Founder and Managing Director

It's all about retail


The Qatari developer Urbacon Trading & Contracting, has assembled a team of experts worldwide to create a mega destination project. It expects more than 20 million visitors during its first year with a steady growth forecasted well into the future.

McARTHUR + COMPANY commenced work with the developer in December 2012. As Phil McArthur, Founder and Managing Director, McARTHUR + COMPANY, explains, the mall itself had already been basically designed: “Our job was to help improve the design and make it as exciting as possible for the visitors to the mall. McARTHUR + COMPANY’s remit was to establish the best way to position the mall – right from initial marketing to leasing and onto operations.

“A mall has to be all things to all people – to appeal to a wide demographic. Between December 2012 and March 2013 we conducted a series of internal workshops and brought in experts to augment our team and to work with us on master-planning the new town centre around the mall.”

At the time of conception, there was no major housing activity around the project, however the owners were always confident of the growth potential of the Al Rayyan district of Doha. McArthur observes: “Now housing is booming because everyone wants to live near a mall, look at what happened around Mall of the Emirates and the growth of Al Barsha district in Dubai. Mega shopping centres offer convenience and services for a large local community.”

Expecting to be fully leased before the end of this year, with leasing progress having reached 90% of its total capacity to date; signees include flagship stores H&M and Hamleys toy store, a Signature Carrefour Hypermarket, Salam luxury department store,

Mall of QatarDoha, Qatar

The promise of a world-class shopping, outstanding dining and unique entertainment is what makes Mall of Qatar one of the most eagerly anticipated projects in the region.

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Building a legacyMall of Qatar, in the country’s capital Doha, is a groundbreaking $1.4 billion shopping centre project based in the Al Rayyan growth corridor. Construction began in 2012 and will open in Q3 2016. The McARTHUR + COMPANY team provides their own insights into how the project was originally conceptualised and then turned into a reality.


Debenhams, CinemaCity Cineplex, Kidzmondo a kid’s edutainment city, and much more. The success of retailer negotiations – more than 500 in total – included key retailing groups such as Alshaya Co, Apparel Group and Majid Al Futtaim, which helped significantly with the mall’s positioning.

McARTHUR + COMPANY was responsible for assisting the mall owners with the brand direction and strategy. “We felt strongly that the project has so many world-class and compelling features that Mall of Qatar was a powerful and representative name. The Nation’s Mall, it is strong.”

As David Richardson, McARTHUR + COMPANY’s General Manager of Leasing for Mall of Qatar, explains, “There will be over 100 restaurants, a two-storey Hamleys toy store, many exciting high street brands and a 19-screen cinema which will have a sushi bar and bowling alley. The family entertainment centre spread over 16,500 sqm will include Kidzmondo from Lebanon and Extreme Land.

‘The Oasis’, the entertainment area in the heart of the mall, is something that’s never been done before. As long as a football pitch but wider, it has a revolving stage and has been engineered for full scale productions and performances. The Oasis will be able to host shows on the scale of Cirque du Soleil.

Mall of Qatar also boasts amongst the world’s best infrastructure and road network connectivity. This includes user-friendly access, the most convenient parking in Qatar and a direct link to the upcoming Doha Metro. The new passenger rail service between the GCC countries will also have a terminal adjacent to the mall site.

Of course there are always challenges along the way. “In Doha there are more than 20 mega and community shopping centres under construction,” says David Richardson. “This means we had to work very hard to develop the strongest mix of retailers to ensure we were competitive. Having such a strong relationship with the region’s retailers built over years has been hugely helpful.”

Throughout the project, the McARTHUR + COMPANY team worked closely with Urbacon’s General Manager Rony Mourani and Deputy Managing Director, Shem Krey. “As far as developers go, the Mall of Qatar team is by far the most passionate and dedicated to getting it right, and looks for ways to improve every aspect of the guest experience. It's the right way,” says McArthur.

“Developing a mega project is complex and many parties have been instrumentally involved from the outset. This communal team spirit to create something completely unique and special is why Mall of Qatar is on the best foundations to be a success on a world-class scale.”

“As far as developers go, the Mall of Qatar team is by far the most passionate and dedicated to getting it right, and looks for ways to improve every aspect of the guest experience. It's the right way.”+ Phil McArthur, Founder and Managing Director


here’s our systematic approach to getting a shopping centre project started on the most sustainable foundations and solid footings for success:

Research + Market Analysis This is absolutely crucial to getting the right position for the shopping centre investment. Through our in-depth research and analysis, we provide deep market intelligence and strategic recommendations based on each market’s supply and demand dynamics. We make it our business to track the commercial delivery for both new and existing retail assets.

Design + Development Planning We create tailor-made solutions for each one of our retail development projects. We provide development concept design and functionality advisory at the early stages of the development life cycle – delivering a strong centre for the consumer and retailer, and resulting in solid rate of return on investment.

Merchandising + Leasing Services We provide a leasing strategy and detailed planning as well as lease negotiation and administration services. By combining our strong connections within the retail and shopping centre industry we engage in strategic recommendations, and provide a comprehensive understanding of local and international retail brands and global trends.

Management + Operations Services With more then 200 years of combined shopping centre operations and management experience, the McARTHUR + COMPANY team brings a wealth of real-world experience to the market. Our experience as strategic management and operations advisory experts is completely focused on guaranteeing the long-term health and functionality of our client’s retail asset.

Branding + Marketing Advisory The brand is the image and identity of any retail development. Building B2C and B2B marketing relationships is essential to creating awareness and visibility. We determine high-level strategic marketing plans and connections to a global network of experienced and proven marketing professionals.

Financial + Investment Systems Project feasibility and investment modeling are key parts of the strategy to understanding the commercial viability of any real estate development. We develop and financially model real estate projects against the highest international benchmarks, combined with McARTHUR + COMPANY’s vast experience in global retail asset development.

Retail Site Selection + NegotiationSite selection is a vital step in understanding the impacts of a planned retail development. Issues such as accessibility, visibility and commercial viability require on-the-ground research and analysis in order to ensure sound investment decisions. Through our detailed analysis, we establish the critical success factors when evaluating a potential site.

The McARTHUR + CoMpAny Delivery Model


Furqan, can you tell us how McARTHUR + COMPANY assists clients in the mall planning stages? Over the past four years of providing services to our clients, we see that frequently they rely on us to help in both understanding shopping centre investment financial modeling and improving their own existing plans.

Our approach is to work with our clients closely so we can tailor a bespoke solution for each investment. We provide the planning and administration management tools they need to design, construct, lease and manage their shopping centres.

Can you help us understand the key areas you look at when planning a new project’s financial feasibility? Often our clients come to us with a financial feasibility model that requires thorough review and analysis. ‘Financial engineering’, as it’s often known, is where we measure an investment using a variety of different techniques to assess whether it’s a viable proposition.

Through the results, we pinpoint opportunities to improve – for example the returns by reducing development costs, or by making changes to other contributing factors affecting the investment. Examples of what we measure – particularly in the retail real estate sector – include revenue and construction costs per square foot, net present value, internal rate of return, and net operating income. We want to look at it from all angles and make sure our clients have solid numbers for their financial planning.

That's a very comprehensive approach. Furqan, how does the McARTHUR + COMPANY financial advisory validate the numbers to ensure accurate projections? Let me answer this on a number of levels. First we help our clients set appropriate projection targets. Planning is a very important aspect of real estate development and these targets keep everyone on track.

We always make sure our clients have clear investment hurdles or targets in mind. We help them focus on what’s important in meeting stakeholder expectations and avoiding over-engineering.

Next, we give our clients accurate and relevant industry benchmarks to ensure realistic analysis, and examine and highlight any anomalies in detail so we can present practical business solutions.

On a last note, we teach our team and our clients’ investment teams to challenge everything. Every assumption should be looked at before concluding and getting the plan approved.

Can you give us a few examples of more specifics? Sure. Some of the key areas we examine and challenge include:

Construction costs – are they realistic in light of prevailing steel and concrete prices? Is it feasible to hedge the costs through supplier agreements or directly?

Land costs – are they in sync with the market? Is it reasonable?

Finishes – what options have been considered for materials and finishes? Are there any new or improved products that could help reduce initial or ongoing costs?

Borrowing costs – has the optimum level of debt been achieved? Can costs be reduced by negotiating better terms with the bank? Is it worth hedging the interest? What’s the rate risk?

Payment terms – which payments can be delayed or deferred? To what extent can inflows and outflows be matched to deliver a better return in the earlier years when there is pressure on cash flow?

Revenue – has the right balance been struck between the high-profile retail concepts and the smaller shops and services, so revenue can be optimised? Is the balance between anchor stores, retail and F+B appropriate?

These are all the crucial questions we ask and address.

We understand that the shopping centre investment model can change over the lifecycle of any project. Furqan, how do you account for these shifting priorities? We use a technique called stress testing which allows us to understand how the financial model will look if some or all the assumptions vary to some degree. We help our clients make sure there is room to manoeuvre in the event that not everything goes according to plan. The stress testing model also identifies and focuses on the critical assumptions which must be kept on track to deliver a successful result.

Furqan– thanks to both of you. Your insights have been extremely helpful and shed light into many of the aspects of Financial Engineering. “our approach is to work with our clients closely so

we can tailor a bespoke solution for each investment”+ Furqan Athar, Partner and Director of Strategic Planning & Finance

Financial EngineeringWe caught up with McARTHUR + COMPANY’s Furqan Khalifa Athar, Director of Strategy and Planning, to understand how he and the finance team work with their clients and share some strategic and operational insights


Development Advisory & Retail Leasing Assignments

AzerbaijanAF holdingsCentro Mall, Baku20,000 M2

IranKhorshid Derakhshan hashtomJahan Mall, Mashhad200,000 M2

KSAAssaudiaKingswalk, Jeddah40,000 M2

KuwaitTalal Al Fozan EntreprisesReef Waterfront, Safat15,000 M2

OmanMajan DevelopmentAl Muzn, Muscat11,000 M2

Taameer InvestmentJasmine Complex, Muscat3,500 M2

QatarConvert Engineering and TradingPalms Mall, Doha10,000 M2

Urbacon General ContractingMall of Qatar, Doha180,000 M2

uAECityland real Estate DevelopmentCityland Mall, Dubai100,000 M2

Ishraqah for Development Ltd.The Onyx, Dubai8,000 M2

Sobha HartlandHartland Square, Dubai11,000 M2

Tanmiyat Development LLCLiving Legends, DubaiN/A M2

Development Advisory Assignments

BahrainAmlakBahrain Marina, Bahrain35,000 M2

IraqBabylon Development CompanyBDC Mall, Babylon20,000 M2

Dar Al SabahBaghdad Mall, Baghdad13,000 M2

KSADammam hotelsAl Nakheel Mall, Al Khobar80,000 M2

Hadia Abdul Latif JameelCorniche Towers, Jeddah24,000 M2

Kingdom holdingKingdom Centre, Riyadh40,000 M2

Omar Kassem Alesayi GroupPrint Land, Jeddah40,000 M2

KuwaitAl hamra real EstateAl Hamra Centre, Kuwait City25,000 M2

LebanonBeirut SouksSolidere, Beirut20,000 M2

Hawat InvestmentByblos Mall, Byblos15,000 M2

OmanAl Khonji DevelopmentRimal Galleria, Muscat7,500 M2

Mustafa Sultan EnterprisesOcean Shopping Mall, Qurum3,000 M2

Silver Circle redSarooj F&B Complex, Muscat6,000 M2

QatarEnergy City QatarPalms Mall, Doha7,000 M2

Kittco ContractingTawar Mall, Doha75,000 M2

uAEAbu Dhabi Capital GroupAbu Dhabi Outlet Mall, Abu Dhabi131,000 M2

AbyaarJadaf, Dubai10,000 M2

Albarakah Investment holding Co.Al Maqtaa Canal, Abu Dhabi50,000 M2

Al Aroud GroupPearl Jumeirah, Dubai9,000 M2

Al Rostamani GroupAl Wasl, Dubai5,600 M2

Dubai Properties GroupBusiness Bay Promenade, Dubai

Dubai Properties GroupDubai Wharf, Dubai38,000 M2

Jumeirah GroupSouk Madinat Jumeirah, Dubai25,000 M2

Jumeirah GroupThe Boulevard at Emirates Towers, Dubai15,000 M2

Leader GroupLeader Sports Specialty Centre, Dubai25,000 M2

rAK PropertiesMina Al Arab, Ras Al Khaimah30,000 M2

union PropertiesAutomall, Dubai41,000 M2

uSA Limited BrandsUAE/KSA Shopping Centre Evaluation

our ClientsMcARTHUR + COMPANY is proud to work with an outstanding group of clients. We assist developers in shaping successful projects around the globe into memorable destinations, generating lasting value for our clients and their communities.

Al Muzn CentreMuscat, Oman Majan Development entrusted McARTHUR + COMPANY with the task of helping them develop and lease Al Muzn Centre. We contributed to building a mall that would include a strategic blend of customer convenience amenities, a strong retailer and services mix, and a variety of dining options.

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Mall of Qatar, Doha

Mall of Qatar will boast a strong mix of retailers that will ensure it remains competitive in the market. In fact, its F&B offer will be one of the most extensive in the region.

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“We are proud of our collective experience working on over 100 exceptional shopping centre projects in north Africa, the Middle East and Asia with the world’s leading developers. We proudly salute these properties and their owners for their dedication to excellence and innovation”+ Furqan Athar, Partner and Director of Strategic Planning & Finance


Tom Dvoracek, Director, retail Development, leads McARTHUR + COMPANY’S operations and advisory team in terms of research, analysis, development and design. Lee Talbot, Director, Leasing, provides his merchandising expertise on both huge regional malls and smaller community shopping centres in both retail, services and food & beverage mix planning. here, they discuss the key success components of what’s become known as the McARTHUR System® – the company’s process to deliver a successful shopping centre investment.

Tom, how in essence does the McArThur System® work in terms of initial analysis? We have a defined step-by-step process we have developed and proved to work over the years. First and foremost we analyse whether the investor’s chosen location is a good site. We look for easy accessible roads to the site as well as visibility from main roads. A great example in Dubai is Mall of the Emirates, located at the intersection of two major highways. Next we carry out market research based on real market dynamics. We visit each competitive mall in the catchment as well as assemble relevant data to help us define the correct positioning and mix of a retail project. This is the cornerstone of our approach…good reliable data, strong analysis and methodical feasibility planning. Once this has been defined we work with the developer and their architects reviewing and fine tuning the design, and determining the best circulation and centre layout with the architects and owners.

OK, so Lee - how then does the company’s leasing strategy work? By studying the demographics of the area, we can then roll-out the merchandising strategy. Whether it is high-end; more community service-based; family-oriented; what are the food and beverage requirements? From there, we start preliminary discussions with the major retail groups in the area – and at the same time survey the market for those unique local retailers that are essential in every centre.

What about the crucial aspect of marketing and branding? Tom? Stephanie Chartier, our Director of Marketing, plans the strategy for the review of the branding aspects – shopping centre name and logo, determining the look-and-feel of the marketing collateral and helping to develop branding guidelines. We also plan out a strategy to market the leasing space to retailers and then we migrate the marketing direction to the B2C operating cycle when we launch and start operating projects.

Lee, how do you agree on a final leasing plan strategy for the shopping centre? We sit with the developer and present every detail – the size of the mall; how many levels it should be; how many parking spaces will be needed; or whether or not it will have an

affiliated hotel for example. All forms part of the strategy which we develop into the leasing plan. We take the data from Tom’s team report and we determine the right mix of supermarket or hypermarket, department stores, major fashion, local fashion, personal services and of course F+B and entertainment.

That’s interesting. Tom, in what way is the company’s local knowledge an advantage? Local knowledge isn’t just an advantage but absolutely crucial. Our operations span 15 countries and in each territory we engage people who know the market and we are on the ground in those markets. At the same time, we compliment this with our international experience and expertise. We have a team of close to 35 experienced shopping centre professionals. Our team comes from over 9 countries and collectively we have over 200 years of development, leasing, managing and marketing experience.

Lee, how do you form your overall retail business plan? This starts with producing revenue projections for the mall owners. Budgets are signed off based on the target list of retail brands and the rent yield investors and owners expect. From Tom’s market research, my team and I formulate a leasing plan of key brands we intend to target. We then share this vision with our retail clients. A key USP is our relationship with both local and international retailers, built over the team’s collective experience and contact network. We have a long relationship with more than 1000 international brands, most with an existing presence in the GCC. We know these brands and have struck deals with them over a number of years. We are also proud of our relationships with local retailers. This is an area we continue to expand year-after-year.

Tom, how does your initial analysis contribute to this? The analysis we conduct essentially aims to get the right balance between large and small shops, and store categories – to name just a few of the complex and diverse examples: cosmetics, opticians, children’s shoes, supermarket outlets, sports stores, coffee shops, restaurants, cinemas and entertainment. The formula to achieving the right mix for each catchment area and its community needs is different for every property. How important is each category for the purpose? It’s all about creating and delivering the right mix/balance offer and hopefully delighting the shopping centre guest and retailers.

The McARTHUR System®

“This is the cornerstone of our approach…good reliable data, strong analysis and methodical feasibility planning.”+ Tom Dvoracek, Director, Retail Development

North AmericaRockland CentreMontreal, Canada

Burlington MallBurlington Ontario, Canada

Guildford Town CentreSurrey, Canada

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EuropePolus City Center Bratislava, Slovakia

Shopping PalaceBratislava, Slovakia

Silesia City CenterKatowice, Poland

AsiaDLF Cyber Greens Gurgaon, India

Suzhou VillageSuzhou, China

Shanghai VillageShanghai, China

Middle EastDeira City CentreDubai, UAE

Mall of the EmiratesDubai UAE

Yas MallAbu Dhabi, UAE

Dubai Festival CityDubai, UAE

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UKIntu Victoria CentreNottingham, UK

Intu DerbyDerby, UK

Intu BroadmarshNottingham, UK

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North AfricaCitystarsCairo, Egypt

Cairo Festival CityCairo, Egypt

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OceaniaWarringah Mall Sydney, AUS

Macquarie Centre Sydney, AUS

World Square MallSydney, AUS

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“McARTHUR + CoMpAny has 200 years’ cumulative experience with over 100 successful shopping centre projects worldwide.”+ Phil McArthur, Founder and Managing Director

TeamExperienceEach member of the McARTHUR + COMPANY team has been handpicked for their years of experience specific to shopping centres and retail. Canadian, British, Serbian, Slovakian, Pakistani, Pilipino, Indian, Lebanese and Moroccan team members combine their expertise to bring our clients truly international expertise.



Cityland as it is now known was originally designed to be a global pavilion marketplace representing a diverse mix of countries from different continents. Adjacent to the current site of Global Village and covering over 1,000,000 square feet of shop and restaurant space, the project was around 80% complete before being halted in 2009 at the height of the global downturn.

Says Phil McArthur, Founder and Managing Director, McARTHUR + COMPANY, “Our client (the current Cityland management) negotiated a deal giving them the rights to significantly re-develop the site into a regional shopping centre and bring it back to life.”

The McARTHUR + COMPANY team worked with the project architects for around five months to see how they could maximise footfall and sales within the site’s unusual semi-circular design.

As Tom Dvoracek, Director Retail Development, McARTHUR + COMPANY explains, “When we work with the architect and developer we look at a number of different aspects in terms of design and layout. First and foremost, it’s important to work out both the customer circulation and shop distribution and the relationship of anchor retailers and smaller operators. This is probably the most challenging aspect because it has to work in the best way for both consumers and retailers. It’s something we term as district planning”

The team placed the service and convenience retail cluster (hypermarkets, dry cleaners, pharmacies and so forth) at one end of the mall, and at the other end family entertainment comprising cinemas, food court and other leisure facilities. A third major cluster was designed to feature fashion retailers.

Next the team leveraged the developer’s groundbreaking idea – to create a huge botanical garden in the core of the Cityland space – blending the properties of a world-class shopping centre with a unique tourist attraction.

“There’s no other mall in the world – not at least that we’re aware of – that has such a unique attraction,” says Lee Talbot, Director of Retail Leasing, McARTHUR + COMPANY. “It will be a mass of garden with all sorts of flora and trees, but will have its own cluster of restaurants. It will also be a great educational opportunity for students.”

The design aspects of Cityland ran in direct parallel with in-depth market research. “We extensively looked at the population within a 20-minute drive of the site, to understand their characteristics including factors such as age, income and driving time,” says Stephanie-Alexandra Chartier, Director of Marketing, McARTHUR + COMPANY.

“From there we put together a strategic model of the different demographic groups that would make up the mall’s main customer base, and what they would really

Creating CitylandDue to open its doors in early 2017, Cityland will offer a unique retail + tourism proposition. The McARTHUR + COMPANY team tells the story about how the company first became involved in this unique shopping centre project and its strategic development since.

need in terms of retail - taking into account the proximity of the other malls. This meant deeply studying the competitive malls as well as those opening over the next 3-5 years. Through this we were able to form a considered and realistic positioning strategy for Cityland.”

Currently, the team is involved with the leasing of the mall. Essentially this involves sourcing the right retail mix. “As with other mall development projects, we polled the major retail groups across the GCC,” offers Lee Talbot. “We asked them about their expansion plans – both within Dubai and regionally – including their appetite for expansion across their entire brand portfolio. This is bearing in mind that some of these retail groups have 60 or 70 brands in their stable”.

“Our day-to-day working relationship with these retail groups, leads to strong commercial relationships where they trust us to come up with a strategy that fits their brands.”

Throughout the process, McARTHUR + COMPANY worked closely with the developer's advertising and marketing agencies, to ensure the mall’s own branding was appropriate for a regional shopping centre – and in creating a powerful marketing campaign for leasing. This involved designing a leasing and marketing exhibition centre, where you can see a model of the mall, look at the floor plans, discuss the leasing opportunities and see the mall traffic flows in terms of the anchor stores, entrances and car parking.

“With every decision we make in terms of leasing, development, or planning how to run the mall, it’s at the forefront of our mind that it has to be a good marketing decision, good for the retailers and most important great for the guests of the centre. We take a careful look at the details – the comfort of parking, access to the mall as well as comfort and customer service within the project,” says McArthur. “We examine every detail to ensure the customer’s comfort and secure their loyalty.”

“Retail groups trust us to come up with a strategy that fits their brands.”+ Lee Talbott, Director, Leasing

Cityland MallDubai, UAE

Cityland Mall is Dubai’s latest regional shopping centre. The differentiating factor of this mall will be an open air botanical garden created by those responsible for Dubai’s Miracle Garden.

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Phil McArthur, CrX, CDP, CSMFounder and Managing Director

With a 35-year career track record in the development and expansion of shopping centres globally, Phil has an international reputation for delivering highly-successful projects across the Middle East, North America, North Africa and Asia. His past senior executive positions include companies such as global Real Estate giant Ivanhoe Cambridge, Al Futtaim Group, CityStars, MAF Shopping Centres and Brookfield Properties. Just some of the prestigious projects he has under his belt are Dubai Festival City, City Centre Deira, Mall of the Emirates, City Centre Muscat and CityStars in Cairo.

Furqan Athar, CA, CMA (uK)Partner and Director of Strategic Planning & Finance

Furqan’s expertise in shopping centre investment, underwriting, and operational finance is well-known across the region. He has extensive experience in all aspects of the shopping centre industry, most specifically in investment management and value creation. In previous management positions with Majid Al Futtaim Shopping Centres and Al Futtaim Group Real Estate, he has been instrumental in the financial and strategic planning of some of the Middle East and Asia’s most successful shopping centers and mixed-use developments.

Lee Talbott, BSc, MrICSDirector, Leasing

Over a 23-year career in retail leasing, asset management and project planning, Lee has worked with some of the leading property companies and real estate consultants in the UK, Europe, China, Australia and UAE. Lee is well-known throughout the retail world and has completed hundreds of commercial leases in the region. At Aldar Properties, Abu Dhabi’s largest developer, he headed up the leasing of Yas Mall, a 2.5 million sqft shopping and entertainment centre. At Nakheel, he was responsible for the asset management and leasing of the 1.5m sqft wholesale and retail centre, Dragon Mart.

Tom DvoracekDirector, Retail Development

Tom leads the operations, research and advisory team at McARTHUR + COMPANY. He has more than a dozen years of experience in retail development, operations and leasing with Dubai-based real estate giants such as Majid Al Futtaim and Al Futtaim Group Real Estate and Emaar Malls Group. At Majid Al Futtaim, he was instrumentally involved in the planning, re-development and leasing of City Centre Deira. As Senior Asset Manager at Emaar Malls Group, Tom oversaw Downtown Dubai retail assets, Dubai Marina Mall and the Dubai Gold & Diamond Park.

Stephanie A. Chartier, CMDDirector, Marketing

With more than 15 years’ experience in real estate, Stephanie has spearheaded the development of unique marketing campaigns and strategies for mixed-use development projects across North America – notably she was Marketing Director with a focus on shopping centres for global real estate giant Ivanhoe Cambridge. Her thorough understanding of marketing and consumer behavior, combined with her innate fascination with fashion and retail, allow her to create truly immersive campaigns that deliver a seamless brand experience across any platform – driving traffic, community, conversation and loyalty.

Meet the team


Sylvie Saddik, MScManager, Business Development

Sylvie is a strategic thinker and CRM expert who builds McARTHUR + COMPANY’s market position developing, negotiating and closing business relationships. She was previously part of the operations management team at Dubai Miracle Garden, a highly popular outdoor family entertainment venue in the heart of Dubai. In the development of Cityland Mall in Dubai, she proved to be an essential asset in driving business expansion through aggressive deal negotiations.

David richardson, BSc hons.General Manager, Leasing

David leads our leasing efforts on Mall of Qatar where he has managed leasing strategy from the advisory and conceptual phase through to negotiation and completion. His understanding of the retail real estate industry is extensive and varied, having worked with some of most prestigious projects in the UK. During his time at Savills PLC and subsequently FHP Property Consultants, he was part of the multi-award winning retail consultancy division, which won the award for the region’s highest number of completed transactions per year, for five consecutive years.

Amit Puri, MrICSGeneral Manager, Leasing

Amit is a passionate real estate professional with more than 15 years’ experience in India and Dubai. He currently spearheads the implementation and management of strategic leasing initiatives, and conducts in-depth analyses of markets and customised tenant mix solutions. He has worked in India with prestigious companies such as Ivanhoe Cambridge, Prestige Developers and Cushman and Wakefield, and has vast experience in sales/leasing strategies, business development, investment advisory and research functions.

Pavol KopernickýGeneral Manager, Leasing

Pavol is a strategic planner and lease negotiator with 11 years’ shopping centre experience in Eastern Europe. At Trigranit Bratislava, he was responsible for leasing Polus City Center’s shopping and entertainment components. He was also assigned to the leasing of centres in Poland and Romania. At Bifrost Investment Group, he was property manager for the firm’s owned assets, responsible for all aspects of property management from leasing to development plans. Later at ECE Projektmanagement Praha, he dedicated himself exclusively to leasing. He speaks English, Slovak and Russian.

Lima Darwich, CLSSenior Manager, Leasing

Lima Darwich has a strong legal background, with a career that began at a prime legal firm with a strong focus on the commercial real estate industry. She later joined CITYMALL Lebanon as Retail Leasing Manager where she gathered her experience in leasing, mall management, mall operations and project coordination. Lima holds a Master’s in Business Law and an ICSC certificate for Shopping Center Management. She is also an advanced AutoCAD technician.

Glen Ferguson, MrICSSenior Manager, Leasing

Glen is a credentialed and experienced chartered surveyor specialising in retail leasing in both Europe and the UAE. He began his career within property management at DTZ in Dublin, and later joined Colliers International as a retail agency surveyor. He was subsequently involved in the leasing and asset management of numerous shopping malls, retail parks and high-street retail premises throughout the UK. At Emirates Leisure Retail, Glen acquired Costa coffee outlets throughout the UAE and provided advisory on the company’s wider portfolio lease renewals.


Azmel MansorDirector, Business Development – Malaysia

Heading up business development for our Malaysia operations, Azmel specialises in corporate finance, franchising, retailing and property development. At Asian International Merchant Bankers Berhad, he was involved in IPOs, mergers and acquisitions, bond issues and independent advice. He later joined Government Link Corporations, where he was directly involved in government-led business initiatives and policy-making. He successfully headed a foreign franchise acquisition plan, and the development of a retail prototype concept store at the request of the Malaysian Prime Minister.

Aziz Khyari, MScManager, Development Advisory

Aziz has more than nine years FMCG and retailing consulting experience. Before joining McARTHUR + COMPANY, he worked at Accenture, Euromonitor and IMS, responsible for drafting complex market appraisal proposals and strategic plans for leading retailers in the region. He gained his international experience in Western Europe, north and Sub-Saharan Africa, the Subcontinent and Middle East.

Nebojsa Zaric, MBADevelopment Advisory Consultant

Nebojsa has more than six years’ experience in asset, property and leasing management for office and retail projects. He was part of the largest Serbian development company – MPC Properties/Merrill Lynch and also at Confluence Property Management, the largest property management company in the Balkans. While at Confluence, he led the property management team at Usce Tower – and subsequently became Leasing Manager of the Usce Shopping Center, the largest in the Balkan region.

Matthew Stych, BA hons.Manager, Market Research

Matthew has spent more than 12 years researching and analysing retailer performance, as well as macro-economic retail and consumer trends in both developed and emerging markets. Before joining McARTHUR + COMPANY, he worked at Planet Retail in London and Hong Kong, and was previously head of retail research at Euromonitor International. As well as his retail industry reports in both print and broadcast media, he has spoken at a number of trade events, including the National Retail Federation’s BIG Show and Reuters’ Consumer and Retail Summit.

Geoff RimmerCountry Director – Malaysia

Geoff is a British national with over 30 years of multi-disciplinary international business experience in property development, retail, hospitality, F&B and FMCG across the Middle East, UK, Europe, USA, Canada and Asia. During his two decades of experience in the Middle East, Geoff has garnered experience in shopping centre, residential and commercial building development; including all aspects of operational management and leasing.Geoff brings his acumen as an accomplished negotiator and key partnership developer with strong commercial and project management skills as he heads the newly established office in Malaysia.

Peter Lazarus, LL.B (Wales) Hons.Legal Manager

A UK-qualified solicitor and corporate lawyer with extensive experience in the UK and GCC, Peter focuses on protecting client interests and finding solutions to complex real estate legal matters. He advises our shopping centre investment clients and assists with negotiating, drafting and closing transactions. His approach is to resolve issues between clients and retailers - ensuring a good relationship between all parties involved.

hamidreza hassanzaddeh, MBAManager, Business Development – Iran

An Iranian national with more than seven years’ experience in real estate development, Hamidreza specialises in leasing, marketing, asset and property management for office and retail projects – delivering McARTHUR + COMPANY’s knowledge and experience to Iran’s dynamic retail property market. Earlier on he was with one of the Middle East’s most prominent development companies, Majid Al Futtaim Properties, involved in the leasing and property management of Hyper-Star in Iran. He later led leasing, marketing and property management teams at Palladium Mall, a luxury mall in Tehran.

Paresh Mishra, MBADirector, Business Development & Operations – India

Having established many of India's leading shopping centres and retail concepts, Paresh plays a key role in researching, planning and establishing our shopping centre advisory services for our new projects across the wider subcontinent. Within his 25 years in shopping centre portfolio and retail house management, he has worked with leading shopping centre developers including Mumbai based K Raheja, Runwal and Virtuous Retail.

Louay YoussefGeneral Manager, Business Development - GCC

After a successful assignment assisting in the leasing of one of our signature projects, Mall of Qatar, Louay joins our business development team where he utilises his real estate and retail development expertise in assisting the growth of McARTHUR + COMPANY in the region. Within his business development role, he was instrumental in the expansion plans of Carrefour in Qatar and Kuwait. He has invaluable experience in customer service, sales and tourism in Beirut and the wider Middle East.


Sarooj F&B ComplexMuscat, Oman Silver Circle Red solicited the expertise of McARTHUR + COMPANY for the creation of a food & beverage complexin Muscat, Oman. With thecollaboration of the designarchitects at DLR Group,this unique collection ofcasual dining restaurants wasdesigned to cater to both thelocal and tourism clientele.McARTHUR + COMPANYproduced a detailed overviewof the site and the existingcompetition, followed by adesign brief and a proposedtenant mix.

+“Retail is our core specialty, as retail lies in the center of many of the world’s most adored and successful destinations. We understand retail and what it takes to create new shopping centres or rescue older centres that require new energy”+ Phil McArthur, Founder and Managing Director


Dubai, UAESuite 402 – 03,The Pinnacle Building, Sheikh Zayed Road,PO Box 283850

Sylvie SaddikManager, Business DevelopmentT : +971 4 392 8304F : +971 4 399 0421 M: +971 5 640 [email protected]

Doha, QatarPO Box 36303

Louay YousefManager, Business Development T : +974 4 429 7979 M: +974 6 689 [email protected]

Al Khobar, KSAINSO Office # 110,Saudi Business Center,Madinah Road,PO Box # 4543,Jeddah 22234

Majed Al-GothmiRepresentativeT : +966 12 651 5333 Ext. 110F : +966 12 652 0700M: +966 50 565 [email protected]

Kuala Lumpur, Malaysia Unit 29-01, Level 29, Tower A Vertical Business Suite,Avenue 3 Bangsar South, No. 8, Jalan Kerinchi, 59200

Azmel Reza Abu MansorDirector, Business DevelopmentT : +603 2 783 9614F : +603 2 783 9615 M: +60 13 393 [email protected]

Tehran, Iran 5th Floor, North Tower, Palladium Mall,Moghaddas Ardebili st.

Hamidreza HassanzadehDirector, Business DevelopmentT : +98 21 22010600 M: +989 12 458 [email protected]

Mumbai, IndiaLevel 17, DLH Park, Ramlal Compound, S V Road, Near Goregaon Flyover,Goregaon (West), 400 064

Paresh MishraDirector, Business Development & Operations M: +96 1 957 [email protected]

Toronto, Canada116-993 Queen Street, West Toronto, Ontario,M6J 1H2

Michael Duncan McArthurCreative AdvisorM: +1 416 858 [email protected]

International Offices

T: +971 (0) 4 392 8304 | F: +971 (0) 4 399 0421 | E: [email protected]

Documents

The Senior Team Case Studies Our Clients - McARTHUR · The Senior Team Connect with our ... to host shows on the scale of Cirque du Soleil. Mall of Qatar also boasts amongst the world’s