Dubai: A recently-released Dubai Chamber analysis indicated that Dubai's retail sector has shown a high growth performance thanks to the concept of modern retailing as well as high per capita income levels.
The analysis further pointed out that in spite of the challenging economic environment, shopping malls continue to expand in the UAE. In 2009, three main Dubai shopping malls opened their doors to shoppers namely, Dubai Mall, the Arabian Centre and Marina Mall. In addition, the biggest mall under construction in the world — Mall of Arabia, with 929,000 square metres of leasable space is expected to open this year. In addition, at least six shopping malls are scheduled to open in Abu Dhabi by 2012 which will add to the buoyancy and robust growth of the retail sector.
The Dubai Summer Surprises (DSS) event, aimed at stimulating Dubai's retail and tourism sectors in the slow summer months continues to have an effect. Sales at the emirate's malls rose by 17 per cent during the 65-day festival in 2009, with total revenues at 23 shopping malls across Dubai reaching Dh1.49 billion, up from Dh1.27 billion at the same shopping malls in 2008. What is significant is that retailers have said that their sales during the 2010 DSS were up on 2009 levels.
