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ME Retail Sales Gaining Ground on Increasing Availability of Space
Oct 17, 2008
Our newly launched research report, “Middle East Retail Sector Analysis (2007-2010)”, has anticipated the retail sales in the Middle East region to surge at a CAGR of 11.40% by 2010.
The report says that rising availability of retail space (despite escalating rental prices across the region) is one of the prime reasons for high growth in the retail sales in the region. Rising availability of Gross Leasable Area (GLA) is also contributing to the growth by attracting retailers from all over the world to expand their business in the region. Besides, the rate of expansion in GLA is anticipated to reach between 15% and 20% and the UAE, along with Saudi Arabia, will record the highest increase in GLA. The countries are expected to contribute 44% and 30% of total GLA in the region respectively by 2010. Besides, the report says, Dubai will have two of world’s five largest shopping malls by 2008 end, and its GLA will increase by over 250% by 2010.
Apart from the increasing availability of retail space, increase in real estate activities is giving diverse options of shopping and entertainment under one roof to consumers. As a result, consumers are increasingly coming to shopping malls, leading to high purchasing. Rising number of shopping malls in the region is also contributing to the growth in retail sector as young consumers are particularly attracted by organized retailing.
“Middle East Retail Sector Analysis (2007-2010)” offers comprehensive research and rational analysis on the retail industry of the Middle East. It gives detailed information on the retail industry of various countries in the region with focus on every aspect underlining the key issues related to the industry. The report also helps clients to analyze the opportunities and challenges critical to the success of the retail industry in the region.
It also provides forecast on apparel retail sales by region, share of organized & unorganized retail by region, consumer durable retail sales by region and retail GLA by country.
For more information visit: http://www.rncos.com/Report/IM518.htm
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