Shopping malls in Dubai will hold a three-day mega sale this month, just before Ramadan begins.
The Dubai Tourism on its website said that retailers across the city will offer 30 percent to 90 percent discounts from May 18 to 20 on electronics, jewellery, homeware and fashion products.
“Get ready for more savings in May, just in time for the start of school holidays and Ramadan. Retailers across the city will slash prices, knocking 30 to 90 percent off in-demand items,” the tourism authority said.
“There will be something for everyone among the sale items,” it added.
In December 2016, the Dubai Festivals and Retail Establishment (DFRE), an agency of Dubai Tourism, launched “National Day Sale”, offering discounts of between 30 percent and 90 percent on selected items.
During the last Dubai Shopping Festival, a 12-hour flash sale was organised at Majid Al Futtaim-owned malls.
Real estate advisor CBRE said last year that Dubai has a presence of 57 percent of international retailers, second to London at 57.9 percent and followed by Shanghai at 54.4 percent.
Nick Maclean, managing director, CBRE Middle East, said: “Dubai's global connectivity and stature as hub for trade between the East and West has clearly given an impetus in the retail sector. Over the last decade the emirate has established itself as a globally recognised retail tourism destination, attracting millions of visitors from across the globe each year.”
However, Sapna Jagtiani, primary credit analyst with S&P Dubai, said in February that an appreciating dollar is making it more expensive for tourists looking to shop in the UAE, with Dubai likely to lose it’s coveted “shopper’s paradise” label if the currency pressure persists.For all the latest retail news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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