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Dubai ranked as world’s second most important shopping destination

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A day after a leading retail boss warned that Dubai shopping has become too expensive for tourists, the emirate kept its spot as the second “most important international shopping destination globally” in a major poll.

The 2015 edition of ‘How Global is the Business of Retail?’ by international property advisor CBRE placed Dubai second for the fourth consecutive year, “closely behind” London. CBRE said that Dubai has a presence of 55.7 per cent of international retailers.

The figure was above Shanghai, which scored 53.4 per cent, in third and comfortably ahead traditional shopping favourite New York. The Big Apple had a 46.3 per cent presence of international retailers.

CBRE said that during the course of 2014, Dubai attracted 45 new international brands, with high-profile retailers including Hollister, Cavalli Cafe and McQ Alexander McQueen opening outlets in the emirate.

Nick Maclean, managing director, CBRE Middle East, said: “Dubai continues to remain the clear destination of choice for the majority of the brands looking to enter the region for the first time, frequently using the emirate as a stepping stone to wider regional expansion.”

On Monday, Arabian Business reported the CEO of Lals Group, Jayant Ganwani, as saying that Dubai had become “unaffordable” for a lot of tourists – and that European goods were a lot more expensive in the emirate than Europe.

But retailer globalisation “remained a key theme” in CBRE’s research, with half of the 164 cities attracting at least five new retailers.

Abu Dhabi had 55 new brands, ranking the emirate in third place for new retail entrants during 2014.

Maclean said: “The increased number of new retailer brands entering Abu Dhabi has been driven in part by a significant increase in supply in the capital amidst the opening of a number of new malls, most notably Yas Mall which opened in November 2014.”


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