Shopping power of Dhs53,000 per household boosts Dubais retail sector to Dhs150 Billion
Dubais impressive average spending power of $14,400 (about Dhs53, 000) per household per year has seen the retail sector riding a wave of growth to reach record figures. According to the latest data from Colliers International, Dubais households spend between Dhs37,000 and Dhs85,000 each year. The city is now rivaling established global shopping hotspots like London, Milan, New York and Sydney, with the UAE now ranked as the worlds 4th most attractive retail destination in AT Kearneys latest global index. Meanwhile Business Monitor International (BMI) is projecting that by the end of this year, Dubais retail sector will be worth a phenomenal Dhs150 Billion.
In even more positive news for the local retail industry, the options for shoppers have widened even further following the opening of The Galleria Mall in the heart of Jumeirah. Shoppers can now take a quick tour of renowned international brands such as Home Bakery, Cities Dubai, Valleydez, Via Rodeo, Zayan the Label, United Pharmacy, Cara Jewellers, Stenders, Yateem Optician, Coco Chic, Beach Bunny, Saucette and Sauce Rocks, Tashas, Adore, Hallmark and Catimini, covering everything from luxury fashion, fine dining, leisure, family entertainment and more.
Shahab Lutfi, Founder and CEO of The Galleria Malls developers H&H Investment & Development LLC explained: The Galleria Mall and Villas is a fresh concept based on family quality time, in Dubais trendy suburb of Jumeirah Beach. The attractions are as diverse as Dubais multicultural population. By bringing famous global brands here, we are bringing the world to Dubai and helping to make our city the worlds undisputed shopping paradise.
The retail revolution is set to intensify, as Dubai welcomes 25 million visitors in the build-up to World Expo 2020. As part of this long-term view, The Galleria Malls sister development, The Galleria Villas offers upmarket residences near the mall in close proximity to Dubais golden beachfront, with both developments totaling 324,300 square feet.
Fine dining is one of the markets currently enjoying unprecedented growth, and The Galleria Malls upmarket eateries serve signature South African, Japanese, American, Italian and Arabic cuisine.
Commenting on what Dubais shoppers and tourists can expect, Shahab Lutfi added: Its no longer enough to simply have a massive mall, because the quality of the visitors experience is equally as important as the quantity of attractions. From the beautiful setting to the convenient parking and intimate family-friendly atmosphere, The Galleria Mall is helping Dubai to raise the bar in retail therapy. With even more shops opening soon, we are living up to our promise that this is truly where you belong.
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