The combination of alluring destination malls and a rapidly expanding airline has created a “fly-and-buy” shopping economy in Dubai in recent years, but retailers in the emirate have found it more difficult to tap into the broader global potential of e-commerce. “E-commerce is the largest threat and the biggest opportunity,” Nisreen Shocair,...
Dubai’s efforts to position itself as a global centre for the Islamic economy, combined with its standing as the world’s second-largest showcase for global brands, allows it to play a pivotal role in retail development and innovation. In October 2015 Dubai played host to the Global Islamic Economy Summit, where experts gathered to consider the...
Footfall numbers, sales figures and consumer confidence indicators all point to solid growth in Dubai’s retail and wholesale sector, the single-biggest driver of the emirate’s economy. Furthermore, plans unveiled in the summer of 2014 look set to take the shopping experience in Dubai to a whole new level.
In the largest public offering on the Dubai Financial Market (DFM) in seven years, Emaar Properties raised Dh5.88bn ($1.6bn) with the initial public offering (IPO) of its malls division, Emaar Malls Group (EMG), operator of The Dubai Mall. Shares were priced at the top of the range at Dh2.90 ($0.79) and oversubscribed by 30% for the institutional segment and by 20% for...
While Dubai may be renowned for its numerous large-scale shopping centres, a number of the emirate’s big developers are shifting some of their efforts to retail community centres. Indeed, convenience and proximity to residential areas are the value proposition for a number of new retail developments.
With already more modern retail space per person than all other markets in the region, Dubai in theory should have difficulty in justifying any expansion. Yet that would be to underestimate the emirate’s plans to double its number of tourists in the next seven years to 20m and also to expand its resident population. During the first half of 2013...
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