The shopping and retail businesses of the UAE are set to be 20 years ahead of the region, with Dubai’s launch of the Mall of the World in the run up to EXPO 2020, says the CEO of a leading general trading company based in the UAE.
Dubai was 10 years ahead of other regional markets as far as shopping and retail is concerned. In 1996, the Emirate set itself apart from the region with the launch of the Dubai Shopping Festival, which made a theatrical upswing in the UAE retail sector. With the pronouncement of Mall of the World, the scale and extent have been augmented which will surely take Dubai 20 years ahead of the local market.
This new mega-project that will include 100 hotels, cultural, wellness and theatre districts is the world’s first temperature-controlled city competent of receiving 180 million guests each year. These talks volumes for the vision of Dubai and no risk management specialists will inform global retail brands against setting up presence in the emirate as Dubai administration is investing sturdily to take the shopping and retail division to a completely new stage.
Commenting on the cultural theatres and indoor park to be included in the new Mall of the World, it was said that this is a salute to the variety of cultures in Dubai and escalating number of tourists making Dubai a top priority destination. It is a formula for the victory of Dubai by delivering all people’s needs and making ethnically alluring attractions.
Family tourism is on top of the agenda of the Dubai administration and this means more business to retail and shopping businesses. It also means tougher presence of retails brands in the Emirate and significant partiality to Dubai as a launch pad to other markets in the region.