AT Kearney recently revealed its Global Retail Development Index (GRDI) ranking the top 30 developing countries for retail investment. Within the Middle East, Qatar is ranked for the first time at the fourth position owing to its stable economy, high GDP per capita and high levels of retail spending.
The UAE drops from fourth to seventh position largely due to new entries in the rankings. The retail market in the UAE continues to grow steadily with retail space growing by 7% in 2014 to reach 17.2 million sqft and sales growing 6% to $70.9 billion.
Saudi Arabia occupies the 17th rank as retail space grew 5.6% to 22.6 million sqft in 2014, and sales increased 6.4%. In KSA traditional shops (bakalas) still form a large part of the market offering enough room for modern retail to grow.
Jordan, Oman and Kuwait hold 25th, 26th and 27th ranks, respectively. In the past year the Middle East has faced substantial economic and political upheaval and the drop in rankings this year is due to increased country risk in Jordan and GDP slowdown from falling oil prices in Kuwait.
However, despite the record drop in oil prices, retail sales growth is expected to continue. The retail space pipeline remains strong with several major projects underway in Qatar, the UAE and Oman. Kuwait has felt the impact disproportionately due to its high reliance on oil and relative lack of diversification.
The trend of regional expansion by local champions also continues as several UAE and Saudi players, including Majid Al Futtaim (MAF), Landmark Group and Panda build strong capabilities and retail networks across the region. Additionally, the Middle East continues to welcome international brands such as Macy’s in the UAE and Harvey Nichols in Qatar in addition to expansion from existing retailers.
Watsons to open 20 new stores in the GCC
In 2020, global health & beauty retailer AS Watson Group signed its
April 29, 2024 | By Rupkatha BAsda and Deliverect Deepen Partnership to Power Rapid Delivery Across Asda Express
SQUATWOLF’s Kuwait Flagship Store Anchors Its Regional Growth Ambitions
Global beauty icon Ulta Beauty to make Riyadh debut at Panorama Mall
/ 
For decades, Haldiram’s built deep recall across the UAE through its packaged
When House of Habanero opened its first physical location at Alserkal Avenue
Union Coop has completed a significant expansion of its Hatta Souq branch,
Saudi Arabia is set to welcome U.S. food exporters this week, as
Majid Al Futtaim has officially entered the discount retail segment with the
As convenience increasingly becomes currency in the region’s grocery landscape, Union Coop
As wellness becomes a lifestyle in the UAE, the grocery aisle is
Grandiose, one of the leading grocery retailers in the UAE with a
With shifting consumer behaviour, rising cost pressures, regulatory changes, and rapid digitization,
Union Coop’s blend of retail expansion, digital innovation, and community focus is
Abu Dhabi-based MAIR Group has marked a pivotal stage in its transformation
In a move that blurs the line between shopping and investing, Apparel
/ 
Saudi Arabia’s retail sector is rapidly transforming under Vision 2030. E-commerce, brick-and-mortar
At the heart of retail lies the consumer, Deloitte pointed out while
The GCC retail industry is projected to grow at a compound annual
The retail landscape in the Middle East is undergoing a seismic shift,
Akshay Jayaprakasan, Associate partner, REDSEER in his research presentation at the Internet
In an exclusive interview Krishna Dhanak, Managing Director, Alpen Capital shared insights
A Tabby survey indicates that 82% of shoppers find online shopping frustrating.
Adgild Hop, Market Lead, Partner Retail for Deloitte took to stage at
Previous Article
