uae retail sector surges with 33 growth forecast for 2015
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

UAE retail sector surges with 33% growth forecast for 2015

Arab Today, arab today

Arab Today, arab today UAE retail sector surges with 33% growth forecast for 2015

United Arab Emirates retail sector
Dubai - WAM

The United Arab Emirates retail sector is expected to grow over 33 percent by 2015, according to a September 2014 report by Ventures Middle East released in conjunction with The Big 5 building and construction exhibition.
That growth is attracting investment into other countries in the GCC, including Saudi Arabia, Kuwait and Oman, and to a smaller extent Qatar and Bahrain, the report said.
Dubai is the region's leading retail destination, with the second largest number of global brands after London, according to the report. The Dubai Mall and the Dubai Shopping Festival alone attract close to 35 million visitors per year.
New developments on the horizon include Dubai's recently announced ‘Mall of the World' entertainment and hotel district, which will include the world's largest mall, spread across eight million square metres, at an estimated cost of US$ 6.8 billion.
George Kostas is the CEO of Majid Al Futtaim - Properties, a leading shopping mall, retail and leisure developer the Middle East and North Africa, which owns and operates 17 shopping malls across the region.
He says the U.A.E. has earned a reputation as successful global and luxury retail brands destination since it attracts wealthy visitors from around the world.
"We expect an even greater investment in the retail and tourism sector in the lead-up to the Expo 2020,” said Kostas, whose company will expand and refurbish its Mall of the Emirates – including two new hotels - build a new shopping mall in the International Media Production Zone and a new luxury hotel at City Centre Deira.
"A rise in consumer purchasing power and a growing young and brand savvy population have made Dubai one of the world's most attractive hubs for retailers. To meet these future demands, Majid Al Futtaim has committed to over Dh 3bn (US$ 817m) of new investment across our Dubai portfolio.”
Leading shopping projects across the region include the Vendome Mall at Lusail in Qatar, which is under construction at an estimated value of US$ 1.37 billion, the planned Al Diriyah Festival City in Saudi Arabia, which has a value of US$ 1.6 billion, and the planned Muscat Festival City Mall in Oman.
"Leading retailers from around the world are all clamouring to enter a GCC market which has huge potential,, and that's only good news for developers in the region,” said Andy White, Group Event Director of The Big 5.
"We are seeing increased activity across the entire GCC as countries continue to position themselves as destinations for major tourism events. Increasingly, visitors to The Big 5 are sourcing products for retail projects and we continue to develop our event to help professionals take advantage of this exciting opportunity.”
The Big 5 runs from 17 – 20 November at the Dubai World Trade Centre and is open from 11:00am to 7:00pm daily.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

uae retail sector surges with 33 growth forecast for 2015 uae retail sector surges with 33 growth forecast for 2015

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

uae retail sector surges with 33 growth forecast for 2015 uae retail sector surges with 33 growth forecast for 2015

 



GMT 10:06 2012 Saturday ,28 July

Querrey advances at ATP LA Open

GMT 21:15 2017 Thursday ,01 June

Trump condemns deadly Kabul explosion

GMT 02:15 2017 Thursday ,24 August

Is your country on the Qatar free entry list of 80?

GMT 19:48 2016 Monday ,03 October

Controversial boxing champ Tyson Fury retires

GMT 08:20 2015 Tuesday ,08 December

PC market woes show no sign of easing

GMT 17:27 2017 Tuesday ,25 April

20 Yemeni soldiers killed, injured in explosion

GMT 11:52 2017 Saturday ,30 December

OIC condemns Mar Mina Church attack

GMT 00:03 2017 Saturday ,25 March

Arab Meeting to Examine Anti-Corruption Methods

GMT 13:12 2017 Thursday ,20 April

Deputy premier meets Arab League chief

GMT 14:13 2014 Friday ,10 January

Opel Astra GTC

GMT 18:27 2016 Tuesday ,02 August

Turkish Foreign Minister arrives in Islamabad

GMT 11:27 2016 Tuesday ,13 December

Saudi woman arrested for challenging social norms
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday