With Covid-19 restrictions leading to the closure of Dubai’s shopping malls, some major players in the emirate are turning towards online platforms to stimulate retail activity.
UAE: Dubai Retail
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Economic view | Patrick Chalhoub, CEO, Chalhoub Group
17 Apr 2019
During the first year of its implementation, what overall impact did value-added tax (VAT) have on consumer demand and operating costs in the retail sector?
Analysts expect consumers in Dubai to take a more cautious approach to spending after the implementation of the new value-added tax (VAT) on January 1.
Last year saw Dubai’s retail space grow by 26,000 sq metres, though revenues could remain muted this year as slower economic growth and a stronger US dollar impact trading.
Economic update | Dubai’s shift to digital retail
17 May 2016
Online shopping is expected to drive retail growth in Dubai in the coming years, though migration toward e-payment remains a stumbling block for some consumers.
Dubai’s famous mega-malls are doing brisk trade, with the companies behind the emirate’s two biggest shopping centres reporting double-digit revenue growth in 2014. Additionally, plans for further expansion are also in the works.