Dubai has maintained its number two spot international as a vend destination, just behind London and well ahead of New York, Moscow and Shanghai.
A report was released by global real estate consultancy put the emirate ahead of 187 other worldwide cities based on the number of global retailing brands operating in the marketplace.
Dubai gives incomparable level of occurrences for foreign industries and remains the center for tourism and trade in the state.
The UAE economy has been distinguishing fixed growth over the past years. Dubai has evidently benefitted from the economic competitiveness and the emirate’s retail area remains to be driven on the back of strong growth exhibited by capital inflowtourism, aviation and capital inflow. Almost 55% of global brands being tracked by the study are present in Dubai.
Abu Dhabi, despite the fact beyond the overall top 10, placed fourth in the number new retail participants for the year, at 42. Paris led the category with 50 new participants.
For many worldwide retailers, the Middle East is a prime place for new representation and with an extensive shopping centre pipeline under progress, Abu Dhabi represents an important opportunity for them.
Dubai’s shopping malls had seen robust annual increase with tourists making up an important share of visitors – 25% for the Mall of Emirates.
The UAE’s economic development is back on track and retailers continue to be driven by the prospects of a rise in consumer purchasing power, a growing young population and an ever-increasing height of mode elegance. The UAE’s increasing attraction as a multi-cultural hub and lifestyle destination gives ultimate situations for luxuriousness retail brands to prosper.