Dubai named world's second biggest retail destination

  • Share via facebook
  • Tweet this
  • Bookmark and Share

Dubai has been ranked as the world’s second most important retail destination for the second year running, according to a study by CBRE.

The real estate services firm’s report found that London retained its crown as the planet’s leading retail city, with Paris, Moscow and New York filling out the top five.

The CBRE ‘How Global is the Business of Retail?’ study maps 320 top retailers’ global footprints across 200 cities. The report also ranked Dubai as the world’s fourth ‘hottest’ retail market, with 25 new retail brands entering the emirate in 2012, including Franklin & Marshall, Galvanni and Cheesecake Factory.

“Dubai’s success in retaining its position as the second most important city for ‘cross border’ retailers is reflective of its leading status as a regional hub for individual and family tourism. The doubling of its visitor numbers to 10m per annum in 2012 and its commitment to double these numbers again by 2020 makes the emirate highly attractive for existing and new retailers,” said Nick Maclean, managing director of CBRE Middle East.

“This retail success is primarily a result of Dubai’s infrastructural and particularly, aviation, investment over many years,” he added.

Other cities to feature in the top 20 of targeted retail markets included Kiev, Berlin, Singapore, Tokyo and New Delhi. The only other Middle Eastern destination to feature was the Omani capital Muscat, which came in at 16th place.

The CBRE report found that American retailers were the most aggressive in terms of targeting Middle East markets, accounting for 18 percent of new openings by American brands last year.

Related:
Companies
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
How the UAE is sewing together a top industry

How the UAE is sewing together a top industry

In the shadows of oil and aviation, the UAE’s textiles industry...

Mall talk

Mall talk

Plans for Dubai’s Mall of the World have made headlines all over...

1
Dubai's nightlife bubble: When is it going to burst?

Dubai's nightlife bubble: When is it going to burst?

A new breed of clubs and bars is sprouting in the city, but which...

12
Most Popular
Most Discussed