PHOTO
24 May 2017
Dubai and Doha were the most attractive locations for new retail brands expanding to the Middle East last year, according to a global list released on Tuesday by the CBRE global consultancy firm.
Dubai ranked third overall on the worldwide list, welcoming 59 new retail brands, according to the tenth and most recent edition of the report. Doha followed in the fourth place with 58 new brands entering its market in 2016.
The results were released at an event hosted by the Dubai Chamber of Commerce and Industry on Tuesday. The report also highlighted the rapid growth of the e-commerce sector in the Middle East, fuelled by the region's young and tech-savvy population.
"With a rapidly expanding internet audience and strong logistics infrastructure... the Middle East has become a fertile soil for e-commerce," Nick Maclean, CBRE's managing director in the Middle East, was quoted as saying in a press release.
The food truck industry was listed as one of the best performing segments in the food and beverage sector in the United Arab Emirates, according to the CBRE report.
Globally, Hong Kong held the first position in terms of the number of new retail entities in 2016, with 87 new entrants, followed by London, with 65 new entrants.
Further reading:
© Express 2017
Dubai and Doha were the most attractive locations for new retail brands expanding to the Middle East last year, according to a global list released on Tuesday by the CBRE global consultancy firm.
Dubai ranked third overall on the worldwide list, welcoming 59 new retail brands, according to the tenth and most recent edition of the report. Doha followed in the fourth place with 58 new brands entering its market in 2016.
The results were released at an event hosted by the Dubai Chamber of Commerce and Industry on Tuesday. The report also highlighted the rapid growth of the e-commerce sector in the Middle East, fuelled by the region's young and tech-savvy population.
"With a rapidly expanding internet audience and strong logistics infrastructure... the Middle East has become a fertile soil for e-commerce," Nick Maclean, CBRE's managing director in the Middle East, was quoted as saying in a press release.
The food truck industry was listed as one of the best performing segments in the food and beverage sector in the United Arab Emirates, according to the CBRE report.
Globally, Hong Kong held the first position in terms of the number of new retail entities in 2016, with 87 new entrants, followed by London, with 65 new entrants.
Further reading:
- Amazon's Souq v Alabbar's Noon the Middle East's e-commerce battle
- E-commerce set to revolutionise Middle East retai
- GCC e-Commerce market to reach $20bln by 2020 - AT Kearney
- Dubai food truck restrictions announced
- UAE's exploding food truck scene
© Express 2017
