12 April 2016
Decision to choose Dubai as the venue for 10th World Retail Congress - the first Congress to be held outside of Europe - affirms the Emirate's status as a global retail hub

Dubai, UAE: The 10th World Retail Congress, the world's most exclusive retail event for senior executives, officially opened in Dubai's Madinat Jumeirah this morning under the Patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. Held in Dubai for the first time, the internationally acclaimed retail congress cements the Emirate's status as a market leader for the global retail sector and a pioneer in retail innovation.

In partnership with Majid Al Futtaim and the Dubai Chamber of Commerce & Industry, the World Retail Congress 2016 is held under the theme "Attracting and Engaging the Modern Customer". Over 1,000 leading retailers and industry experts are confirmed to attend over the next three days, showcasing the region's potential in the sector and discussing topics such as disruption and innovation within retail, how to effectively engage with customers, and what's next for the sector, both within the region and globally. 

Delegates and media were welcomed to the congress by Ian McGarrigle, Chairman of the World Retail Congress, and the first session to mark the proceedings was entitled 'Reinventing the Retail Experience: What can the industry learn from the Dubai Vision' led by Alain Bejjani, CEO of Majid Al Futtaim, which served to position the Congress in the context of the unique position that Dubai holds in the international retail space.

Other key speakers leading sessions throughout the three day event include Tommy Hilfiger, Principle Designer, The Tommy Hilfiger Group,Jo Malone,                Founder, Jo Malone, Jo Loves, and Solomon Lew, Chairman, Premier Investments. These three retail giants have all been inducted into this year's World Retail Hall of Fame. Further sessions will be led alongside leading local retail experts including Patrick Chalhoub, CEO, Chalhoub Group and Nisreen Shocair, President, Virgin Megastores MENA.

Opening the Congress, H.E. Eng. Mohammed Ahmed Bin Abdulaziz Al Shehhi, Undersecretary of the UAE Ministry for Economic Affairs, said;

"The retail sector is one of the UAE's most promising sectors, and forms a key part of our economic diversification plan and Vision 2021, that looks to promote sustainable development across the country. The retail industry currently contributes 23% of total foreign direct investment inflows to the UAE, and we expect to see further growth, thanks to the country's robust infrastructure and advanced environment, which make the UAE an ideal place for doing business."

Ian McGarrigle, Chairman, World Retail Congress, said; "We are very excited to be here in Dubai for the 2016 World Retail Congress. When deciding where to host our milestone 10th Congress, Dubai, one of the most important retail capitals of the world, was the clear choice. Over the next 3 days, experts from across the retail sector, both locally and internationally, will look at a number of key industry trends, as well as challenges and opportunities across retail, and I greatly look forward to hearing the insights shared over the course of the next few days. I would also like to extend special thanks to everyone who has supported the 10th Congress, in particular our main partners, Majid Al Futtaim and Dubai Chamber, whose support has been invaluable in bringing the Congress to Dubai."

HE Majid Saif Al Ghurair, Chairman, Dubai Chamber of Commerce and Industry, said; "This is a special occasion for Dubai considering that the World Retail Congress is being held outside Europe for the first time. As a leading global business hub, Dubai offers the perfect stage for the World Retail Congress, which has come as an opportunity to celebrate global excellence in retail. The broad platform offered by this event will help highlight the latest trends and provide a major opportunity to share experiences on the key developments in the retail industry. Dubai Chamber has always encouraged retail development and promoted Dubai as an international business and retail center."

According to recent Dubai Chamber analysis, Consumer spending in Dubai is expected to support the retailing activity to expand by 7.7 per cent in 2016, with growth thereafter at a CAGR of 8.1 per cent until 2020, when retailing sales turnover are expected to surpass US$52 billion.

Alain Bejjani, CEO, Majid Al Futtaim said; "We are proud to have played a role in bringing the World Retail Congress to Dubai, our home market. The importance of hosting it here for Dubai and the MENA region cannot be overstated. It provides local retailers and mall operators with the chance to showcase their innovation and offer to a global audience and highlight the immense growth potential of the retail sector here, and the opportunity this presents for international brands. We look forward to continuing discussions tomorrow about the future of retail and reiterating our unwavering commitment to contributing towards making Dubai the world's number one retail destination"

Retail remains a key pillar of the Emirate's economy, with sales expected to reach AED 160bn this year, and 400,000 square metres of additional retail space expected to be completed by the end of the year across Dubai, according to real estate consultancy JLL.

-Ends- 

About World Retail Congress
The World Retail Congress, part of i2i Events Group portfolio, was launched in 2007, to be a platform for senior retail executives to meet and discuss the most important topics affecting retailers across the world. It has been held in Barcelona (2007-9), Berlin (2010-11), London (2012), Paris (2013-14) and Rome (2015) and is attended by up to 1,000 industry leaders from more than 60 countries.

The co-sponsors of the 2016 World Retail Congress are Majid Al Futtaim - Holding and Dubai Chamber.

For more information please visit https://www.worldretailcongress.com/

Please follow us on:

 https://twitter.com/worldretail

About i2i Events Group
i2i Events Group delivers world-class exhibitions and large scale events in key sectors including home and gift, fashion, retail, healthcare, energy, environment, education, technology and media. Its portfolio of world-wide events includes World Retail Congress, Bett, Spring Fair International, RWM, CWIEME and Pure London. It prides itself on opening up possibilities for its customers and each year brings more than 260,000 decision makers together to network, source, test, buy and sell brilliant products, services, ideas and solutions. The company is headed up by Mark Shashoua who joined EMAP as Group MD of EMAP Connect in November 2011 and became CEO of i2i Events Group in March 2012. i2i Events Group is powered by Top Right Group, formerly known as Emap International Ltd.

About Dubai Chamber of Commerce & Industry
Established in 1965, Dubai Chamber of Commerce & Industry is celebrating its milestone anniversary of 50 years empowering vision in Dubai's business community. A non-profit public entity, Dubai Chamber supports Dubai's vision as a global player by empowering businesses, providing innovative value added services and access to influential networks. Its mission is to represent, support and protect the interests of the business community in Dubai by creating a favourable business environment, supporting the development of business, and by promoting Dubai as an international business hub. For more information visit: www.dubaichamber.com

About Majid Al Futtaim
Founded in 1992, Majid Al Futtaim is the leading shopping mall, retail and leisure pioneer across the Middle East and North Africa (MENA).

A remarkable business success story, Majid Al Futtaim started from one man's vision to transform the face of shopping, entertainment and leisure to 'create great moments for everyone, every day'. It has since grown into one of the United Arab Emirates' most respected and successful businesses spanning 13 international markets, employing 33,000 people, and achieving the highest credit rating (BBB) among privately-held corporates in the Middle East.

Majid Al Futtaim owns and operates 19 shopping malls, 11 hotels and three mixed-use communities in MENA, with further developments underway in the region. The shopping malls portfolio includes Mall of the Emirates, City Centre malls, and also four community malls which are in joint venture with the Government of Sharjah. The Company holds exclusive rights to the Carrefour franchise in 38 markets across Middle East, Africa and Central Asia, operating a portfolio of 70 hypermarkets and 90 supermarkets in 13 countries. 

Majid Al Futtaim operates 182 VOX Cinema screens and 22 Magic Planet family entertainment centres across the region, in addition to iconic leisure and entertainment facilities such as Ski Dubai and iFly Dubai, among others. The Company launched the first LEGO-certified store in the Middle East and is parent to the consumer finance company issuing 'Najm' and "Voyager" credit cards, a fashion retail business representing international brands such as Abercrombie & Fitch, AllSaints and lululemon athletica, and a healthcare business that operates a network of City Centre Clinics. In addition, Majid Al Futtaim operates Enova, a facility management company, through a joint venture operation with Veolia, a global leader in optimised environment resource management. The Company also operates in the food and beverage industry through a partnership with Gourmet Gulf.

www.majidalfuttaim.com

© Press Release 2016