Posted by Neil King
Dubai's retail sector has demonstrated a high growth performance thanks to a spate of recent outlet openings and high per capita income levels among residents and visitors, a new report has claimed.
According to an analysis by the Dubai Chamber, shopping malls in the UAE have continued to expand despite the challenging global economic climate.
It pointed to the fact that in 2009, three main Dubai shopping malls opened their doors - namely Dubai Mall, the Arabian Centre and Marina Mall.
In addition, the chamber noted that Dubai's Mall of Arabia, the biggest mall under construction in the world with 929,000 square metres of leasable space, is expected to open this year.
"The annual Dubai Summer Surprises (DSS) event, aimed at stimulating Dubai's retail and tourism sectors in the slow summer months continues to have an effect," added the report. "Sales at the emirate's malls rose by 17 per cent during the 65-day festival in 2009 … What is significant is that retailers have said that their sales during the 2010 DSS were up on 2009 levels."
Meanwhile, it was reported last week that members of the Dubai Chamber saw their exports and re-exports rise by a collective 14 per cent during the first half of 2010 compared to the same period last year.