Business | General
Sharjah promotions get Dh10m funding
Sharjah Spring Promotions (SSP) 2009 will see government spending of about Dh5 million with additional spending from the private retail sector, bringing the total to Dh10 million, officials said.
- By Nadia Saleem, Staff Reporter
- Published: 23:42 January 13, 2009
- A sign advertising Sharjah Spring Promotions. Last year saw a 16 per cent increase in retailers' contribution to GDP during the promotion period.
- Image Credit: Atiq-ur-Rehman/Gulf News
Dubai: Sharjah Spring Promotions (SSP) 2009 will see government spending of about Dh5 million with additional spending from the private retail sector, bringing the total to Dh10 million, officials said.
Kicking off on January 15 and lasting to February 25, all malls in Sharjah will participate in the promotions, with outlet participant numbers going beyond 1,000.
Hussain Mohammad Al Mahmoudi, director-general of Sharjah Chamber of Commerce and Industry (SCCI), said 2008 saw a 16 per cent increase in retailers' contribution to the gross domestic product (GDP) during SSP.
"Last year, revenues from retailers were Dh800 million, compared to almost Dh700 million in 2007. I would expect 2009 to also be a good year," he told Gulf News.
Al Mahmoudi said the impact of the economic slowdown is not being felt in Sharjah.
"Shopping malls are eager to either maintain the same budget as last year or increase it. There isn't any mall in Sharjah that will be cutting back on spending."
Commenting on consumer confidence during the credit crunch, Al Mahmoudi admitted people are getting more cautious. "This is normal. I don't think this will affect buying habits. It will only make consumers much more smarter," he added.
This year, SSP will engage all parts of Sharjah. Desert activities will take place in the Al Badayer region, Khorfakkan, the eastern areas of Sharjah, as well as the beach.
The UAE will now witness two emirates attempting to boost their economies as the SSP coincides with the Dubai Shopping Festival (DSF). Al Mahmoudi said the overlap only adds to the visitors and spending in Sharjah.
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