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Thu 24 May 2018 11:57 AM

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Three reasons why Dubai's retail landscape continues to expand

New CBRE report ranks the city as the top destination for international retailers as more outlets are set to open

Three reasons why Dubai's retail landscape continues to expand
New CBRE report ranks the city as the top destination for international retailers as more outlets are set to open
Three reasons why Dubai's retail landscape continues to expand
Brands keep coming: During 2017, a total of 59 new international brands arrived in Dubai for the first time, which was second only to Hong Kong. This means that 62 percent of the 334 international retailers surveyed by CBRE are now present in Dubai – and helping to sustain occupancy rates of 98 percent in The Dubai Mall and Mall of the Emirates.
Three reasons why Dubai's retail landscape continues to expand
New facilities: There are a number of new retail developments coming onto the market, including The Nakheel Mall on the trunk of The Palm, the expansive Cityland Mall near Global Village, Deira Mall and Dubai Creek Harbour. In total, 1.5 million sqm of extra retail space will be added before 2020, which is a 50 percent increase on the current total.
Three reasons why Dubai's retail landscape continues to expand
Retail tourism: One of the factors that continues to power Dubai’s retail is the scale of tourist spending in the city. According to the MasterCard Global Destination Cities Index, international visitor spend totalled $28bn, which is 77 percent greater than London. Overall, the total value of retail sales in Dubai is expected to reach $43.8bn by 2021.