New Market Report: United Arab Emirates Retail Report Q1 2015

Consumer and business sentiment in the UAE remains positive, with prices across real estate and equity markets having started to head sharply higher in recent months - boding well for prospects of a positive wealth effect. Household spending is forecast to rise from USD32.2bn in 2015 to USD43.1bn by 2018 as incomes rise and more households move into the USD50,000-plus wage bracket. With more than a third of all households at this income level by 2018, the growth prospects for retail sectors such as clothing & footwear are very strong.

The UAE retail report provides an extensive and comprehensive forecast of various retail indicators. These include: household spending and headline total spending across each retail subsector; household income and employment forecasts; demographic forecasts; and a detailed breakdown of household and per capita spending across a large number of retail areas including food & drink, clothing & footwear, household goods and a number of other subsectors.

Full Report Details at
- http://www.fastmr.com/prod/951083_united_arab_emirates_retail_report_q1_2015.aspx?afid=301

Developers and retailers alike are attracted by the UAE's increasingly wealthy population, which aspires to branded and luxury goods. An increasing number of major shopping malls are opening in the largest emirates of Abu Dhabi, Dubai and Sharjah, with new centres such as The Galleria at Sowwah Square in Abu Dhabi attracting leading retail names. Yas Mall, the latest retail destination in Abu Dhabi, opened in November 2014, showcasing the country's first Lego store, Joe Fresh, stand-alone Under Armour store and two-level Go Sports outlet. The mall, located on Yas Island, has also marked the entry of Hamleys, Hollister, Brook Brothers, Geant Hypermarket, The Cheesecake Factory and Pie Face.

UAE-based real estate firm Nakheel has leased 90% of the outlets at Warsan Souk, its new retail development in Dubai, according to a statement by the company. Warsan Souk, situated between Sheikh Mohammed Bin Zayed Road and Manama Road, next to International City in Dubai, will...

The United Arab Emirates Retail Report has been researched at source and features Business Monitor International (BMI)'s independent assessment and forecasts for the retail sector. The report examines key drivers of retail sales growth and future prospects, including consumer spending and private sector investment.

BMI's United Arab Emirates Retail Report also examines the level of development and potential for growth of the retail sector, the commercial initiatives of major players, changing consumer demographics that influence demand and the regulatory environment. Key sub-sectors include mass grocery retail, autos, over-the-counter pharmaceuticals, computers and consumer electronics.

Key Benefits

* Benchmark BMI's independent retail industry forecasts for United Arab Emirates to test other views - a key input for successful budgeting and strategic business planning in the Emirati retail market.

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