Dubai maintains firm grip on global retail

Dubai maintains firm grip on global retailImage Credit: Supplied

Dubai remains the second most important international retail destination for the third consecutive year, according to this year's edition of CBRE's How Global is the Business of Retail? report. Dubai and chart topping London have built a significant lead over New York, Moscow and Shanghai, the other locations that make up the top five, says the report.

The annual survey covers 334 leading international retailers in 189 cities and 61 countries. Dubai Chamber of Commerce and Industry, in association with Majid Al Futtaim Properties, hosted the launch of the report in the Middle East.

Hamad Buamim, President and CEO of Dubai Chamber, said, ''Dubai has clearly benefited from the economic competitiveness, and the emirate's retail sector continues to be driven on the back of strong growth exhibited by tourism, aviation and capital inflow.''

There were 19 new retail entrants in Dubai last year, according to Buamim.

Source: Staff Report, Property Weekly


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