UAE is world's second most desirable retail destination

15/05/2010 - Dubai Investment News
UAE is world's second most desirable retail destination

Posted by Bob Brunskill

The UAE has been ranked second in the world among the countries which attract the most international retailers.

According to CB Richard Ellis' (CBRE) How Global is the Business of Retail? 2010 report, the UAE is a particularly popular draw for global retail investors, with 54 per cent of the surveyed brands having a presence in the country.

This was second only to the UK, where 58 per cent of brands have outlets.

The survey mapped the global footprint of 294 of the world's top retailers across 69 countries so as to explore the globalisation of the retail industry at national and city levels.

In terms of year-on-year growth, the UAE also moved up to second after coming third last year.

Commenting on the findings, Peter Gold of CBRE said: "The inherent medium-term growth potential of many emerging markets remains a key strategic magnet, helped by the fact that in some cases these markets have as yet only been targeted by relatively few international brands.

"Finding suitable real estate is a common barrier to entering a new market, and we are finding that the opening of new retail space and shopping centres are key triggers for international retailers considering a move into particular new markets."

The news comes after Billionaire Italian Couture, a high-end fashion brand founded by media and sports tycoon Flavio Briatore, opened its first boutique at Dubai Mall last week.

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