Qatar and the UAE rank fourth and seventh on AT Kearney’s GRDI


June 7, 2015 | By RetailME Bureau

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.

Comments

comments

Previous Article Next Article

YOU MAY ALSO LIKE /


Almarai, Carrefour, Emirates have the most loyal customers

UAE-based Carrefour will become the first retailer in the region to offer new levels 

Continue Reading

February 22, 2021 | By RetailME Bureau

The Organic Farmers’ Market is back in Bay Avenue for its 12th 

Continue Reading

February 17, 2021 | By RetailME Bureau

UAE-based  Lulu Group recently inaugurated its first-ever all-female staff store in Jeddah, 

Continue Reading

February 15, 2021 | By RetailME Bureau
Jones the grocer

Jones the Grocer, the gourmet grocer and cheese retailer launches the Jones 

Continue Reading

February 1, 2021 | By RetailME Bureau

UAE-based Al Maya Supermarkets is hosting a two-week food festival at select 

Continue Reading

January 17, 2021 | By Lawrence Pinto

Locally-owned supermarket Spinneys has launched its ‘Power of Plants’ initiative in the 

Continue Reading

January 17, 2021 | By RetailME Bureau
Cookit

Carrefour UAE has launched “Cookit Yourself” — a curated recipe box created 

Continue Reading

January 5, 2021 | By RetailME Bureau
Al Islami Plant-Based Burger

UAE-based Al Islami Foods, one of the largest frozen food companies in 

Continue Reading

January 3, 2021 | By RetailME Bureau
Marks & Spencer's plant-based range

Marks & Spencer’s plant-based range now offers over 25 vegan products including meat-free 

Continue Reading

December 23, 2020 | By RetailME Bureau

World’s largest fully integrated online brand in fresh fish and meat e-commerce 

Continue Reading

December 14, 2020 | By RetailME Bureau
Koita

Homegrown, organic and plant milk company, Koita has announced its expansion into 

Continue Reading

December 9, 2020 | By RetailME Bureau
Middle East's vegan revolution

Today’s on-demand streaming services are ripe with docu-series and explainer videos on 

Continue Reading

December 3, 2020 | By Shruthi Nair




Download Images RetailME Magazine