A new retail investment firm has pledged to embark on a new spending spree

21/09/2011 - Dubai Investment News Posted by Neil King
A new retail investment firm has pledged to embark on a new spending spree

The retail and hospitality sector in the UAE is set to be given a significant boost, investors could be interested to learn.A start-up investment firm named Alif Investments has announced that it is to embark on a multi-million dirham spending spree, The National reported.According to the news provider, the firm is to open 150 retail units across the Gulf over the next five years.This could see a number of property investors look to increase the size of their portfolios in order to capitalise on the growing reputation of the Middle East as a global retail hub.Asif Jabbar, director and group chief executive of the organisation, told the newspaper: "This is the best time to invest. There is so much bounce in the market. If you have the right product at the right price, you should not miss this opportunity."It comes shortly after technology giant Apple announced the launch of its first online store in the UAE.