Middle East retail market gaining ground on
increasing availability of space
20-10-2008
INTERNATIONAL.
A new research report from RNCOS 'Middle East
Retail Sector Analysis (2007-2010)' has
anticipated that retail sales in the Middle East
region will surge at a CAGR of 11.40% until
2010.
The report says that rising availability of
retail space (despite escalating rental prices
across the region) is one of the prime reasons
for high growth in the retail sales in the
region. Rising availability of Gross Leasable
Area (GLA) is also contributing to the growth by
attracting retailers from all over the world to
expand their business in the region.
The rate of expansion in GLA is anticipated to
reach between 15% and 20% in the region, and the
UAE, along with Saudi Arabia, will record the
highest increase in GLA. These countries are
expected to contribute 44% and 30% of total GLA
in the region respectively by 2010. Besides, the
report says, Dubai will have two of the world’s
five largest shopping malls by 2008 end, and its
GLA will increase by over 250% by 2010.
Apart from the increasing availability of retail
space, the widespread increase in real estate
activities is giving diverse options of shopping
and entertainment under one roof to consumers.
As a result, consumers are increasingly using
shopping malls as multi-use centres, leading to
high purchasing. The rising number of shopping
malls in the region is also contributing to the
growth in retail sector as young consumers are
particularly attracted by organised retailing.
'Middle East Retail Sector Analysis (2007-2010)'
offers comprehensive research and rational
analysis on the retail industry of the Middle
East. It gives detailed information on the
retail industry of various countries in the
region with focus on every aspect underlining
the key issues related to the industry. The
report also helps clients to analyse the
opportunities and challenges critical to the
success of the retail industry in the region.
It also provides forecasts on apparel retail
sales by region, share of organised and
unorganised retail (souks and corner stores) by
region, consumer durable retail sales by region
and retail GLA by country.
INTERNATIONAL.
A new research report from RNCOS 'Middle East
Retail Sector Analysis (2007-2010)' has
anticipated that retail sales in the Middle East
region will surge at a CAGR of 11.40% until
2010. 
