Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Saudi retail trade value poised to reach SR267bn  Join our daily free Newsletter

MENAFN - Arab News - 10/05/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab News) Saudi arabia’s retail market is projected to grow at an estimated value of 73.6 billion (sr267 billion) by the end of 2014 compared to 66.7 billion (sr250 billion) in 2012 local media said quoting a report released by oxford business group (obg).

the projected growth of the retail market is attributed to many factors including high rates of consumption growing population and expansion of incomes the report said.

the growing number of young population and consumers has triggered firms businesses and factories to open new branches and outlets which in turn led investors open more stores hypermarkets and open-and-closed malls in different parts of the kingdom the report said.

manufactured items for direct use captured 38.5 percent of the market share whereas electronc devices textiles and clothes sanitary items and cosmetics accounted for 27.3 percent 23.3 percent and 17.9 percent respectively the report said.



meanwhile per capita spending in retail markets is expected to increase to sr 15200 ( 4000) by 2015 or higher by 50 percent compared to figures of 2010 the report said.

for his part head of commerce committee at the council of saudi chambers (csc) yusuf al-dosari said the volume of retail sector in the kingdom is bigger than what has been declared.

the sector is enormously dominated by expatriates whose proceeds (returns) are being sent abroad he said.

the expansion in malls and points of sales (poss) in this sector is not as beneficial to saudi economy as required where rates of (male and female) saudization are extremely low he said.


 


Arab News




  MENA News Headlines
 May 31 2016 - Saudi's Marafiq signs USD 0.41bn loan with SIDFMENAFN
(MENAFN) The Power and Water Utility Co. (Marafiq) signed a loan agreement value USD 0.41bn with the Saudi Industrial Development Fund (SIDF).Additionally, the loan will be used to enhance and apply ...

 May 31 2016 - ICF will invest USD 25mn in Egypt's Carbon HoldingsMENAFN
(MENAFN) The Intl' Finance Corporation (IFC) will invest USD 25mn in Carbon Holdings Limited, an Egyptian downstream petrochemical producer.Moreover, the Co. will support regional entrepreneurs and ...

 May 31 2016 - Morocco, Belgium sign USD 18.74mn on Collaboration ProgramMENAFN
(MENAFN) Morocco and Belgium recently signed a new cooperation program value USD 18.74mn for 2016 and 2020.Accordingly, the program hits on four broad lines, such as; the promotion and protection of ...

 May 31 2016 - UNRWA Lowers Fiscal Deficit from USD 81 Million to 74 MillionQatar News Agency
(MENAFN - Qatar News Agency) The United Nations Relief and works Agency for Palestinian Refugees (UNRWA) has lowered its fiscal deficit for this year from USD 81 million to USD 74 million. The ...

 May 31 2016 - Al Khor to Play Three Friendlies at Camp in GermanyQatar News Agency
(MENAFN - Qatar News Agency) Al Khor will be partaking in a foreign training camp in Germany from July 31 until August 19. The camp is in preparation for the 2016/2017 season. The team will be ...

 May 31 2016 - Qatar Chamber Participates in 19th Arab-German Business Forum in BerlinQatar News Agency
(MENAFN - Qatar News Agency) Qatar Chamber has participated in the 19th Arab-German Business Forum which was organized by the Arab-German Chamber of Commerce and Industry in Berlin from May 25 to 27. ...

 May 31 2016 - Qatar Stock Index Drops 123.62 PointsQatar News Agency
(MENAFN - Qatar News Agency) Qatar Stock Exchange (QSE) index dropped 123.62 points or -1.28% when the bourse closed trading at 9,552.04 points Monday. The volume of shares was up to 3,587,120 from ...

 May 31 2016 - QDB, Qatar Shell Reveal Six new Business Opportunities to Qatari SMEsQatar News Agency
(MENAFN - Qatar News Agency) Qatar Development Bank (QDB) and Qatar Shell hosted their fourth annual 'SME Business Opportunities Workshop' to reveal six new specific business opportunities that will ...

 May 31 2016 - Economy Minister: Qatar's GDP Expected to Grow 4.3 Percent This YearQatar News Agency
(MENAFN - Qatar News Agency) The State of Qatar's GDP is projected to achieve stable growth of about 4.3 percent during this year, HE Minister of Economy and Commerce Sheikh Ahmed bin Jassim bin ...

 May 31 2016 - Al Muhallab Mall 'Fitness Donation Program' gets significant participationArab Times
(MENAFN - Arab Times) Al Muhallab Mall lately launched its first ever fitness program where donations are dedicated to Fawzia Sultan Rehabilitation Institute (FSRI). The program is organized by the ...

more...


 





Google

 
 

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