US retailers eyeing up space in Dubai market

30/08/2011 - Dubai Investment News Posted by Bob Brunskill
US retailers eyeing up space in Dubai market

Growing consumer confidence is leading to a number of big US retailers eyeing up units in the United Arab Emirates, property investors in Dubai could be interested to learn.Limited Brands and American Eagle Outfitters are thought to be among those interested in finding retail space in Dubai as sales have already risen ten per cent this year alone.The Economic Times reports that US brands have previously been reluctant to enter the market because of subdued sales, but this could be about to change.Sheeraz Hasan, the founder Millions of Milkshakes, opening its first branch outside of the US this year, told the news provider that Dubai is drawing people to its shores."There are more people in the malls here in Dubai than anywhere else in the world," he explained."We wanted to show the West that Dubai is the place to be."MasterCard's Worldwide Index of Consumer Confidence, published earlier this month, revealed that confidence is at its highest in the UAE since 2004.