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UAE - Most Preferred Retail Market in MENA
Dec 09, 2009

UAE’s tourism sector is expected to play a major role in the retail growth in 2010, with major events like Formula One and FIFA World Cup Tournament fast approaching.
 
According to a latest research by a leading real estate consultancy, it has been found that more than 80% retail respondents who intend to expand business in the Middle East and North Africa (MENA) region have their eyes set on the UAE market, as reported by ArabianBusiness.com.
 
UAE, as per the latest CB Richard Ellis (CBRE) report findings, is considered as the entry point for brands and retailers with their expansion plans set for the gulf region next year.
 
Further, based on the interviews that were taken over 2009’s summer season, the CBRE’s report examined the 2010 expansion plans and present attitudes of 220 retailing giants.

It was also found in the survey that both Abu Dhabi and Dubai expects the tourism sector to play a crucial role in the retail sector’s growth in 2010. This is because both these regions will enjoy added glamour, glitz and shoppers with the upcoming events like Formula One and FIFA World Cup Tournament.

Moreover, the Dubai Metro has set up a sustainable business environment for its retailer associates. Road and Transport authority said, “In line with this, we are progressively opening retail outlets in the Stations to add value to our passenger's daily lives as they in turn help create a sustainable business environment for our strategic retail partners.”
 
According to “Booming Retail Sector in UAE”, a market research report by RNCOS, notwithstanding the global economic slump, the UAE retail sector continues to surge at a fast pace with an anticipated CAGR of over 12% set to be achieved during 2009-2013. Future growth of the retail sector will be driven by factors like growing household consumption and thriving service industry, which encompasses banking, tourism and trading sectors.
 
According to a Research Analyst at RNCOS, “Due to the worldwide recession, consumers have become more cautious of shopping and spending; as a result, 2009 has been a tough year for the retailers. Most of the brands are, however, optimistic. Moreover, Dubai’s state-of-the-art hypermarkets, together with a host of shopping events such as Dubai Shopping Festival, makes it the most promising and preferred destination for the overall retail sector.”
 
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