(MENAFN- Khaleej Times)Retail sales in the UAE are set to grow by 32.9 per cent from Dh114 billion in 2011 to Dh151 billion in 2015 a recent report by Business Monitor International forecasts.
Khalid Shraim general manager of Hili Mall Al Ain's biggest community shopping centre noted that retail growth in the city has been extremely robust since the beginning of the year backed by strong competitive offerings rolled out across main shopping destinations. Similarly an Alpen Capital report detailed that the GCC retail industry continues to maintain positive momentum driven by key factors such as robust economic growth rising purchasing power a growing population comprising a large proportion of expatriates changing consumption patterns and increasing penetration of international retail players. "We are monitoring trends in Al Ain's retail sector. Among the factors that have contributed to the vibrant shopping environment are new brands shopping outlets with easy accessibility regular entertainment activities and attractive offers" Shraim said. According to the Retail Operations Index by construction consultancy Arcadis the UAE is the eighth-most popular global location among international retailers and the highest ranked in the Middle East. The UAE scored highly for the quality of its infrastructure and its economic environment (third in both categories) but lower (11th) for market demand and the ease of establishing operations. "The quality of transportation such as roads and metros is a key factor contributing to a retailer's success as the growing young population and increased number of expats and tourists make the decision to shop based on their accessibility from direct metro links to shopping malls" said Christopher Seymour head of Middle East markets at Arcadis. "The strategic location and physical presence of a store will continue to help successful retailers in the UAE make the greatest use of their store portfolios and brand marketing to attract customers." The index was based on five key criteria: quality of infrastructure; market demand; the economic environment; the ease of setting up (including business freedoms); and the ease of operating in a country. The top three nations in the list were Hong Kong Singapore and the United States. Qatar was ranked 15th Saudi Arabia 18th and Kuwait 32nd. Egypt was the lowest-ranked nation of the 50 countries in the survey. Arcadis noted that Qatar and Saudi Arabia were ranked lower because their infrastructure was not as well developed. They are also more restrictive in terms of regulations. In addition the quality of transportation and ease of getting up and running is holding back other countries in the region. 5 reasons why is the GCC retail industry continuing to enjoy a positive momentum? . Robust economic growth . Rising purchasing power . Growing population comprising a large proportion of expatriates . Changing consumption patterns . Increasing penetration of international players -
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