Dubai retail sector to hit $41bn

Average spending power is now AED53,000 per household
Dubai retail sector to hit $41bn
By Staff writer
Wed 27 Aug 2014 11:05 AM

Spending in Dubai’s retail sector is expected to reach $41bn by the end of 2014, according to the latest data from Colliers International, in comments reported by Trade Arabia.

The report says  Dubai households spend between AED37,000 and AED85,000 each year, and as a result Dubai has become the world’s 4th most attractive retail destination.

Dubai is planning to welcome 25 million visitors in the build up to Expo 2020. One of the latest attractions to open is the Galleria Mall in Jumeirah Beach.

Shahab Lutfi, CEO of the mall’s developers H&H Investment and Development, said: “The Galleria Mall and Villas is a fresh concept based on family quality time, in Dubai’s trendy suburb of Jumeirah Beach. The attractions are as diverse as Dubai’s multicultural population.

"By bringing famous global brands here, we are bringing the world to Dubai and helping to make our city the world’s undisputed shopping paradise.”

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Last Updated: Thu 26 Jan 2017 01:27 PM GST

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