The United Arab Emirates retail division is approximated to develop more than 33% by 2015, according to a report released in September.
That progress is fascinating investment into other nations in the GCC, including Kuwait, Oman and Saudi Arabia, and to a smaller level Bahrain and Qatar.
Dubai is the nation’s primary retail destination, with the second biggest number of international brands after London. The Dubai Mall and the Dubai Shopping Festival only appeal and fascinate near to 35 million visitors for every year.
New expansions on the prospect include Dubai’s newly announced ‘Mall of the World’ entertainment and hotel district, which will comprise the world’s largest mall, spread across eight million square metres, at an approximated cost of USD 6.8 billion.
A leading shopping mall, retail and leisure developer in the Middle East and North Africa, which owns and operates 17 shopping malls across the region, stated that UAE has made a status as thriving international and luxury retail brands destination since it fascinates well-off guests from around the world.
They also anticipate an even greater investment in tourism and retail field in the lead-up to the Expo 2020. An increase in customer purchasing control and an increasing young and brand know-how inhabitants have made Dubai one of the world’s most attractive hubs for retailers.
Primary retailers across the world are all shouting to enter a GCC souk which has big capability and possibility and that is really good news for the developer in the country.