Dubai sets up Retail Business Group

17/08/2011 - Dubai Investment News Posted by Bob Brunskell
Dubai sets up Retail Business Group

A Retail Business Group has been set up in Dubai with the aim of supporting the industry and boosting the economic development of the emirate.People with property in Dubai could be interested to hear that the group, launched by the Dubai Chamber of Commerce and Industry, is the 25th sector-specific group to be created.It will be made up of 30 members who represent the retail sector and should enhance communication among business groups and government authorities as the sector looks to grow by 5.5 per cent this year."The key factors behind the optimistic forecast are attributed to the strong underlying economic growth, increasing household consumption and the inflows of tourists to the emirate," explained HE Hamad Buamim, director general of the Dubai Chamber."With its steady rise, the retail sector has emerged as one of the most important economic sectors associated with the growth of modern Dubai."Indeed, retail chains are opening up each month in Dubai, with the most recent addition being luxury fashion designer Christian Louboutin. The store will open on Fashion Avenue in Dubai Mall.