Emirate to overtake London as world's premier retailer hub, says boss of Dubai Festivals and Retail Establishment ahead of Future Retail conference Dubai, UAE, 28 November, 2013: Dubai's successful 2020 Expo bid could have an impact on the emirate's destiny of being the number one city in the world for international retail representation, the head of the Dubai Festivals and Retail Establishment (DFRE) has said today. Her Excellency Laila Mohammed Suhail, CEO of DFRE, the company tasked with organising city-wide shopping festivals such as the world famous Dubai Shopping Festival (DSF), said that winning the 2020 bid will no doubt help attract scores of new retailers, further advancing an emirate whose performance looks set to overtake the global competition thanks to its sizeable retail segment and successful tourism industry. “There is enormous anticipation for the Dubai Expo 2020, and we are delighted that the Emirate will be hosting the event,” said Suhail, who is a headline speaker this month's Future Retail Conference, taking place from 8-9 December at the JW Marriot Marquis Hotel Dubai. “DFRE will now be working closely with its partners from the private sector and other Government bodies to develop more retail festival concepts that will add to the experience of the millions of visitors attending the Expo. “However being the number one international retail hub in the world remains our target regardless of the Expo; we are determined to reach that spot and maintain it for years to come.” According to the 2013 How Global is the Business of Retail Report by market research specialists CBRE, Dubai currently ranks only second to London as the city with the highest percentage of international retailers. The rank is based on a survey of 323 major international fashion retailers, of which 53.8% (174 retailers) said that they currently have outlets in Dubai. Mat Green, Head of Research & Consultancy UAE, CBRE Middle East, commented, “Given the growing number of international brands entering the market, Dubai could soon be in a position to challenge the English capital as the most important international retail destination. “The influx of new brands over the past five years has seen Dubai vying with London for top spot, and now with the recent Expo 2020 award the emirate is primed to mount a sustained challenge to London's recent dominancy. “After a relatively quiet period in Dubai's retail development pipeline, the next three years will see significant expansion of the emirate's major malls, with Mall of Emirates, Dubai Mall and Ibn Battuta each looking to add additional space to their existing offering. We will also see a number of entirely new malls complete by the end of 2017 that will attract a host of new names into the market.” Suhail said that Dubai's rich history in trade, dating back more than a century, sets it up as a model example for other cities in the Middle East and North Africa (MENA) region when developing their own retail infrastructure. “If you take a look at Dubai's history, you discover that the culture of trade and shopping dates all the way back to 1894, when the emirate's leaders declared the city a tax free port,” said Suhail. “More than century later, events such as the Dubai Shopping Festival have undoubtedly played a leading role in reinvigorating the UAE's retail sector. This is evident by the fact that when DSF was launched in 1996 there were only five major shopping centres. Today there are 70 shopping malls and 40,000 outlets in malls and souks catering to a variety of visitor tastes. “The retail sector in the MENA region is still emerging but is poised to take off if it is planned right. The Dubai model of explaining the essence of retail culture – both to retailers and consumers – would bring great benefits to emerging markets across the region.” Last year, Dubai was the fourth most attractive market internationally for new entrant retailers, attracting 25 newcomers for 2012, coming in behind Honk Kong, Kiev, and Berlin. Meanwhile the MENA region was a key market for US retailers, attracting 18% of total US export brands for the year. Suhail is one of 36 experts speaking at the two-day Future Retail conference, delivering the opening session on Day One with her presentation about diversifying business growth in retail. Other headline speakers include Mohammed Abdel Rahim Al Fahim, CEO of Paris Gallery Group; Justin Cooke, former CMO of Topshop and current Owner of Innovate7; and Asil Attar, CEO of Lead Associates, and former CEO of Majid Al Futtaim Fashion. Held under the patronage of Dubai Festivals and Retail Establishment, and supported by the Department of Economic Development, Future Retail focuses on four central retail themes: Business Models, Location and Traffic, The Customer Experience, and Marketing & Retention. Organised by Informa Exhibitions, the conference spotlights the latest trends and technology advancements of the MENA retail sector, highlighting the hottest retail locations regionally, whilst unearthing the latest innovations in e-commerce, mobile platforms, and communication technology. For more information about Future Retail or to register, go to: www.futureretail.ae.
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