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.
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.
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...
Although Dubai has led the way in the development of the GCC tourism and hospitality industry, it may soon be able to adapt its own offerings, by benefitting from the development of arts and cultural attractions being built in neighbouring Abu Dhabi. The focus of this activity in the capital is on a 25.9-sq-km natural island. Three internationally acclaimed architects...
With decades of experience in hosting international contests, Dubai is looking to increase its repertoire of sporting events by investing in new facilities and expanding existing sites. In 2014, plans were announced for the construction of new stadiums, but Dubai Sports Council is also keen to see smaller sports facilities built to serve new and existing communities....
By some measures the tourism and hospitality sector in Dubai is already in a league of its own internationally. In terms of overnight visitor arrivals’ spend per resident, for example, Dubai stands head and shoulders above every other major destination city in the world. In its relatively short history, Dubai’s hospitality sector has learned how to constantly reinvent...
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