Retail sales in Dubai, UAE are expected to reach around Dh160 billion ($43.7 billion) next year, as against an estimated Dh152 billion ($41.5 billion) in 2014, marking a rise of 5.3 per cent, said a top official.

“Retail sales in 2013 were recorded at around Dh145 billion ($39.6 billion) and according to a specialised study they are expected to increase to Dh204 billion ($55.7 billion) in the coming seven years,” added Abdul Rahim Al Zarooni, chairman of the Al Zarooni Group of Companies.

“We expect the Expo 2020 to give the retail businesses a strong boost," Al Zarooni said, noting that retail and the wholesale sector play a very important role in contributing to the economy of the emirate as it represents 29.2 per cent of the Gross Domestic Product (GDP) of Dubai.

Al Zarooni was speaking to Dubai Festivals and Retail Establishment (DFRE), an agency of the Department of Tourism and Commerce Marketing (DTCM), addressing Al Zarooni Group’s long-standing association with DFRE and Dubai Shopping Festival (DSF) and the company’s future growth plans.

In 2014, Dubai was ranked only second after London as a city that has the largest collection of international retail brands under one roof, ahead of major cities such as New York, Moscow, Shanghai, Paris and Singapore, he said.

Dubai’s retail sector is strong and enjoys a leading position worldwide. Studies show that the size of the current retail sector in Dubai is around 2.8 million sq m and it is expected to increase to 3.2 million sq m in the coming two years, he noted.

Al Zarooni Group of Companies’ association with Dubai Shopping Festival (DSF) dates back as far as 1996 when the festival was launched with the aim of positioning Dubai as a year-round family tourism destination.

“The partnership, which has spanned two decades, will see the Group continue to support DSF, which this year is celebrating its 20th milestone anniversary edition,” Al Zarooni said.

He hailed the DSF as an innovative initiative that has truly reinforced and strengthened Dubai’s position as a leading international destination for shopping and tourism. The daily display of fireworks that light up the skies over Dubai each day of the festival every year, are presented by the Al Zarooni Group, he explained.

In addition, the popularity of the Group’s two prominent shopping malls, Mercato and Town Centre Jumeirah, has gradually grown with the festival, which incidentally, spurred the growth of the shopping malls industry in Dubai.

The impact of DSF has been very positive especially on the retail, tourism, hospitality, entertainment and other related sectors, said Al Zarooni.

The Al Zarooni Group has constantly worked on new projects including properties, buildings, hotels and shopping malls like Mercato and Town Centre Jumeirah and an even bigger project – Dubai Sports City.

Mercato is a unique mall and a key landmark of Dubai that attracts several tourists for shopping as well as an opportunity to soak up the Italian-inspired theme of the mall. A lot of effort and hard work went into creating this incredible shopping experience at our malls.

Al Zarooni Group is planning on building a new shopping mall in Karama and details of the second one will be announced at a later stage.

“But, what I can tell you now, is that the second mall will be a distinctive addition to the current portfolio of shopping malls in Dubai and will become one of the popular icons of the city,” said Al Zarooni.

“In addition to the shopping malls, the company is currently looking at expanding Mercato to be able to accommodate a growing number of retail shops, as well as shoppers who are looking for a unique shopping experience. Finally, Al Zarooni Group will soon launch six projects in the retail, real estate and hospitality sectors.”

“Al Zarooni Group as usual will continue to delight visitors and residents, both children and grown-ups from around the world, with the daily DSF fireworks shows, which gives everyone a chance to unite with one another and create unforgettable memories.  The duration of the fireworks will be longer this year in celebration of the 20th anniversary edition,” Al Zarooni added.

“Mercato is also gearing up to offer shoppers valuable prizes throughout the festival in addition to all the discounts and promotions that are up for grabs at the mall’s exciting line-up of retail stores. Entertainment shows and festive decorations will enhance the shopping experience for visitors further,” he concluded. – TradeArabia News Service