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Centrum Plaza is a compact retail and commercial center located in Jumeirah Lake Towers (JLT) along Sheikh Zayed Road, Dubai, United Arab Emirates. Built in 2008 with operations starting around 2010, it spans approximately 40,000 square feet of gross leasable area across two levels, featuring about 25 retail units. The tenant mix prioritizes community essentials: 50% food and grocery anchored by Carrefour supermarket, 30% services including pharmacy chains and fitness studios, and 20% fashion with boutiques like H&M and Zara.
Quick-service restaurants such as Subway and local eateries enhance dining variety, promoting cross-shopping synergy. Situated in a high-density district with over 150,000 residents in towers, it targets a primary catchment of 500,000 people within 5 km and secondary of 20 km, dominated by expatriate professionals. Occupancy rate is 88% as of 2023, below Dubai's 94% average due to post-pandemic selective leasing, with 5% vacancy mainly in non-food categories.
Rent levels average AED 200 per square foot annually on a base-plus-turnover model (8-12% of sales), more affordable than prime destinations like Dubai Mall at AED 400+.
Accessibility benefits from adjacency to Sheikh Zayed Road and Al Khail Road, plus 300m to DMCC Metro station, driving pedestrian traffic. Footfall reaches 15,000-20,000 weekly (peaking at 30,000 weekends), with annual totals around 800,000, dwell time of 90 minutes, and 30% conversion rate slightly under the 5% benchmark.
Leasing advantages encompass flexible 1-3 year terms suitable for startups and pop-ups, 5-7% annual escalations, renewal options, break clauses, and reduced fit-out costs from standardized units.
Market position leverages JLT's 2.5% population growth and masterplan expansions for better connectivity, yet contends with e-commerce (25% sales shift), market saturation (15% oversupply per JLL 2024), and competition from larger nearby centers.
Operational quality includes CCTV security but faces aging facades needing AED 500,000 upgrades, summer power intermittency, and humidity wear, positioning it as a stable neighborhood option for resilient retail categories amid Dubai's 6% sector growth driven by 17 million tourists in 2023.
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Hours of Operation
Hours
| Monday | 10:00 AM — 09:00 PM |
| Tuesday | 10:00 AM — 09:00 PM |
| Wednesday | 10:00 AM — 09:00 PM |
| Thursday | 10:00 AM — 09:00 PM |
| Friday | 10:00 AM — 10:00 PM |
| Saturday | 10:00 AM — 10:00 PM |
| Sunday | 11:00 AM — 06:00 PM |
Hours may vary on public holidays. Check with individual stores for specific holiday schedules.
Insights
Demographic Profile
Primary catchment covers 500,000 residents within 5 km, with secondary area to 20 km featuring multicultural expatriates (70% from South Asia, Western countries, Arab nations). Visitor base is 60% millennials and Gen Z aged 25-40, median age 33, household size 3.5, 50% tertiary education, median income AED 20,000 monthly. Retail spending averages USD 5,000 per capita yearly: groceries USD 3,200, apparel USD 2,000, electronics USD 1,500. This supports essentials demand but exposes to risks from expat turnover in oil-linked economy, with 2.5% unemployment and cost of living index 62.5 (US=100), favoring affordable over luxury retail in JLT's young professional demographic.
Competition and Market Position
Centrum Plaza faces medium competition in JLT from Cluster Mall and The Walk JBR, which draw 40% more leisure footfall via entertainment and dining. Competitor density contributes to 20% saturation per Colliers reports, amid Dubai's 70+ shopping centers and 15% oversupply forecast by JLL 2024. Strengths include community focus and 5% projected footfall growth from JLT expansions, but weaknesses like 3% conversion below 5% benchmark stem from office-residential mix causing 15% weekday dips. Tourism rebound to 17 million visitors boosts sector 6% per Knight Frank 2023, yet smaller plazas risk pressure if occupancy falls to 80% with slowing tourism.
Lease Terms and Operational Risks
Leases feature base rents AED 180-280 per sq ft yearly (average AED 200 plus 8-12% turnover, AED 2,000 per sq m), 1-3 year terms with renewals, break clauses, and 5-7% escalations. Flexible for startups, lower fit-outs aid entry. Risks involve anchor dependency (10-20% sales drop if Carrefour relocates), e-commerce eroding 25% sales with 99% internet penetration and 40% click-and-collect. Operations note 88% occupancy, limited 150 parking spots causing overflows, aging infrastructure (AED 500,000 facade upgrades needed), summer power issues, humidity wear, and construction bottlenecks on Sheikh Zayed Road reducing access 15% on peaks, in volatile economy.
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Dubai
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