Despite the drop in oil prices, the GCC retail market and sales are expected to continue growing steadily. Trend reports state that the GCC retail market is growing steadily and is poised to reach $221 billion by 2015. According to Alpen Capital’s report “GCC Retail Industry, released in January 2015, GCC retail sales are forecasted to grow at a compound annual growth rate (CAGR) of 7.3 per cent between 2013 and 2018 to reach $285 billion.
Among the GCC countries, Qatar, UAE, Saudi Arabia, Oman and Kuwait have been ranked the most attractive retail destinations worldwide by AT Kearney’s Global Retail Development Index (GRDI) 2015.
There are US$ 28 billion worth of standalone shopping mall projects at various stages of development – under construction, planned, design, or at tender stages. This is excluding retail elements within mixed use projects.
Ventures Onsite has released new report titled GCC Retail Construction Market – August 2015, commission by dmg events for The Big 5 Dubai 2015.
You can download the report direct: fill in the box on the right (below on mobile).