Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

KSAranks high among attractive retail markets  Join our daily free Newsletter

MENAFN - Arab News - 10/12/2013
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab News) Saudi Arabia has cemented its position as a major retail market in the world as it becomes one of the most attractive countries for retailers to expand into, says EC Harris in its second annual global retail study, the Retail International Programme Expansion Index.
The annual Index by the leading global built asset consultancy ranks 48 major international retail markets according to five factors that have a major impact on successful retail expansion, including quality of infrastructure, capability of the construction supply chain, legal framework, quality of project delivery and business environment.
With high end retail developments in Saudi Arabia and across the Middle East becoming increasingly more attractive for both residents and visitors from around the world, the industry is now one of the most important sources of economic growth in the region.
The index sees Saudi Arabia, as well as Qatar and the UAE all achieve high placement in this year's rankings. Saudi Arabia is currently placed in 13th place while Qatar is seeing great success in 7th place, building on the success of its 2012 ranking in 11th place. The UAE has also moved up the rankings from 15th in 2012 to 11th.
Due to a reputation for efficient project delivery and ease of transition, Middle Eastern markets are proving increasingly attractive to international retailers. This is set to continue and the future will no doubt see the market become a strong contender to the Western markets, which currently remain the most desirable according to the index, with the UK, Germany and the Netherlands topping the list.
Terry Tommason, head of property, Middle East, at EC Harris, commented: "Retailers are increasingly seeing the benefits of expanding their businesses into Saudi Arabia and other Middle Eastern markets with their strong consumer base, high levels of wealth and established construction market."
"Successful retail expansion in the Middle East as a whole relies heavily on the pace of delivery of major programs and a high quality store end product. The region's ability to access and retain the best program capabilities both in terms of supply chain and project delivery is a source of competitive advantage for the Middle East as it will allow retailers to mitigate risk and reputational damage. Each of these factors will enable the Middle East to cement its position as a global retail hub," he added.
While many of the top ranking countries, including those in the Middle East, are those with established markets and a well-developed consumer base, those that rank lower include developing BRIC nations who pose greater risk and reputational damage to retailers.
This is despite China's emergence as one of the world's largest consumer markets. The country remains around the midpoint of the index in 23rd place, though above the other BRIC countries - Brazil, India and Russia.
With renewed focus on compliance, ethics and business governance arising from the Bangladesh factory incident, retailers are increasingly putting proactive measures in place to protect the brand from direct and indirect damage and to minimize reputational risks. The likelihood of risk and reputational damage to a retailer is much greater in emerging and developing markets, and the report highlights the need to maintain brand protection while retaining quality and speed when entering new markets.
Tommason added: "No matter where retailers are looking to expand, property development programs must be streamlined to ensure efficiency. In today's volatile market, the competitive advantage will come to those retailers, which implement practical solutions throughout the supply chain to expand faster and save money, while protecting the brand."

 


Arab News




  MENA News Headlines
 Nov 26 2014 - Kuwait's Mabanee to invest USD910m on projectMENAFN
(MENAFN) Mabanee, the Kuwaiti real estate firm, announced it is planning to spend USD910 million on building the fourth phase of its development of The Avenues mall, Arabian Business reported.The ...

 Nov 26 2014 - Oman's Sezad, OOC sign MoU on Duqm refineryMENAFN
(MENAFN) The Special Economic Zone Authority of Duqm (Sezad) announced it has signed a Memorandum of Understanding with the Oman Oil Company (OOC) regarding construction work on the planned refinery ...

 Nov 26 2014 - Emirates Airlines adds new flight to Maldives routeMENAFN
(MENAFN) Dubai's Emirates Airline announced it has added a third daily service to Mal", the capital of the Maldives, which will begin servicing passengers on December 1, Arabian Business reported.The ...

 Nov 26 2014 - Abu Dhabi Int'l passenger traffic up 17 percent in OctoberMENAFN
(MENAFN) Abu Dhabi International Airport announced that it registered an increase by 17 percent in its passenger in October, Arabian Business reported.The airport said that it has registered a total ...

 Nov 26 2014 - Oman's Rolls-Royce sales grow 46 percent in Jan.-Oct.MENAFN
(MENAFN) Rolls-Royce Motors announced it has registered an increase in its sales in Oman by 46 percent during the January-October period, compared to the same period last year, Times of Oman ...

 Nov 26 2014 - GCC petrochemical industry to decline on falling oil pricesMENAFN
(MENAFN) Gulf countries' petrochemical industry is expected to begin facing challenges due to the falling of oil prices, US shale gas and China's polyethylene, Khaleej Times reported.These factors ...

 Nov 26 2014 - Syrian economy decline 40 percentMENAFN
(MENAFN) According to the Undersecretary General for Humanitarian Affairs and Emergency Relief Coordinator, Syria's economy has declined by almost 40 percent since 2011, due to the effects of the ...

 Nov 26 2014 - Qatar to invest USD43.62b on railways infrastructureMENAFN
Qatar's Ministry of Transportation announced it is currently working on the development of advanced transport infrastructure in the country, with several projects currently in the planning stages or ...

 Nov 26 2014 - Dubai's Kcal to expand to EgyptMENAFN
(MENAFN) Kcal, the Dubai-based restaurant chain announced it is planning to expand its business in the MENA region with its first store slated to open in Egypt by December this year, followed by 14 ...

 Nov 26 2014 - MENA's value of M&A deals hit USD9.3b in Q3MENAFN
(MENAFN) The Middle East and North Africa's (MENA) merger and acquisition activity increased by 17 percent during the July-September period of this year, with 109 deals announced compared with 93 ...

more...


 






Google

Click to Apply

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help