Dubai retains 2nd spot in the world of retail

RetailME Bureau

Dubai has retained its position as the second most important international retail destination globally, closely behind London, according to a survey by CBRE. The list of top 20 global cities with international retailer representation includes Kuwait City and Riyadh at the 8th and 14th positions, respectively.

While London is most important international retail destination, ahead of Dubai, Paris, Moscow and New York, Dubai is now the highest ranked target market for new retailers. According to the report, Dubai ranks in the fourth place amongst the world’s hottest retail markets with 25 new retailer entries during 2012. Hong Kong takes the lead position, attracting significantly more new retailers than any other city with a total of 51 new retailers. Muscat broke into the top 20, ranking in the 16th place. This is due to the recent opening of Muscat Grand Mall and increasing interest in the Sultanate from international brands in categories such as coffee and restaurants and speciality clothing.

The sixth edition of CBRE’s annual survey maps the global footprint of 320 of the world’s top retailers across more than 200 cities, tracking cross-border retailer movements.