(MENAFN) UAE's annual retail sales boosted to its highest ever after the 5 percent rise in 2013 to reach USD65.46 billion, ranking fourth in the global developing market index, according to Khaleej Times.
The emirate"s increasing spending helped the retail sector to claim its highest position ever on the highly respected A.T.
Kearney Global Retail Development Index, or GRDI, said: "On the one hand, consumers are seeking greater proximity of outlets, leading to more community formats like Majid Al Futtaim's My City Centre in Sharjah, which caters to local community residents with retail and lifestyle-orientated store, and on the other hand, retail saturation has led to innovative concepts like The Beach, the outdoor cinema and beachfront mall at Jumeirah Beach Residence in Dubai."
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