UAE makes it to top 10 retail rankings yet again

Mall owners build to the future, overlooking the current lukewarm sentiments

June 3, 2015

Dubai: The UAE has yet again been named among the top ten retail destinations in the world, being ranked seventh for ‘opportunities in retail development’.

This is as per the rankings issued by A.T. Kearney Global. This is the eighth straight year that the UAE features in the top ten.

Clearly, the decline in Russian and other tourist arrivals will not put a brake on the pace of new developments as mall owners and retail chain owners look to the future rather than the now.

“The UAE is exhibiting a pattern typical of most retail hubs… the UAE’s economic strength has allowed it to attract the biggest retail brands in the world, introducing them to further lucrative markets in the rest of the GCC and beyond,” said Shamail Siddiqi, Principal of the Consumer and Retail Practice, A.T. Kearney Middle East.

And who will the new developments attract? Luxury brands will continue to steam in as well all manner of food and beverage ( F&B) concepts, according to the report.