Retail in United Arab Emirates

  • Dubai’s retail space expands as growth cools

    UNITED ARAB EMIRATES, 2017/04/16 Last year saw Dubai’s retail space grow by 26,000 sq metres, though revenues could remain muted this year as slower economic growth and a stronger US dollar impact trading. Room to grow The growth in floorspace, the highest seen since 2010, takes the emirate’s existing retail space to 3.4m sq metres, according to real estate consultancy JLL’s “The UAE Real Estate Market Review”. This figure is set to be dwarfed by the 350,000 sq metres scheduled for release in 2017 and the 367,000 square metres listed for completion in 2018. Though retail vacancies grew by only one percentage point in the fourth quarter last year to 9%, there are concerns that this rapid expansion could lead to a glut of formal retail space in the short term.

  • Over $1bn worth of Swiss watches shipped to UAE in 2013

    UNITED ARAB EMIRATES, 2014/03/06 The price of Swiss watches imported into the UAE has risen 36 % in the last three years, putting the emirates in the top ten of nations for the luxury accessories, official figures showed. Cumulative 2013 figures released by the Federation of the Swiss Watch Industry have ranked the UAE as the primary Middle Eastern country for the importation of Swiss timepieces. The total price of Swiss watches into the UAE last year was 934.1 million Swiss Francs ($1.05bn), up a staggering 36 % since 2011 and up 9 % since 2012, reflecting the strengthening position of the UAE’s luxury retail market in 2013.
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