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...
Retail
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Articles & Analysis | Two of Dubai's retailers have recently listed on the local financial market from The Report: Dubai 2015
The retail and wholesale sector continues to be the largest driver of the emirate’s economy, with figures for the first quarter of 2014 showing that retail contributed $6.32bn in the first three months of the year, up 4% from the same period in 2013. Major plans were announced in 2014 for the world’s biggest mall, while the number of community-focused malls is also on the rise. Looking ahead,...
In many respects 2014 marked the transition from strong recovery to promising growth for Dubai. With many exciting projects in the pipeline, not least the hosting of Expo 2020, the emirate is continuing to build on its reputation as a dynamic and international centre for business.
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.
A cooling economy, persistently high inflation and tighter credit regulations will maintain pressure on Mongolia’s retail sector throughout 2015, though demand for shop space in certain segments remains strong.
Long established as a destination for major brands, Kuwait has witnessed steady retail expansion in recent years, but falling oil prices and forecasts of a budget deficit risk clouding the outlook for 2015.