Released on = July 24, 2007, 2:50 am

Press Release Author = Shushmul Maheshwari

Industry = Retail

Press Release Summary = As per Retail City 2007, the sheikdom of eastern UAE, Dubai,
has turned into the most attractive destination for retailers due to vast
availability of real estate and now retail sector has become vital for the
city’s growth.

Press Release Body = From June 3 to June 5, 2007, Dubai organized the Retail City
2007 and registered the participation of over 3500 professionals from retail
industry. It was an industry platform for investment and development of retail
realty, closed at the Dubai International Exhibition Centre.

A major development at the event was the number of international trade visitors from
developing Eastern Europe and Asian markets. Inaugurating the show, HE Sultan Ahmed
bin Sulayem, Head, Dubai Ports World, stated, “The retail sector is vital to
the growth of Dubai and we will continue to support events such as Retail
City”, in a statement reported by Albawaba on June 18, 2007.

Middle East is undergoing a retail revolution and the current value of retail sector
is estimated at US$ 100 Billion. But in recent times, dealers of luxurious
properties have particularly been very successful because of the emergence of Dubai
as a unanimous choice for retailers. And shopping being among the favorite leisure
activities in the city, developers are constructing holistic shopping cum
entertainment destinations to cater to the rapidly changing needs of locals and
tourists.

The RNCOS report “Middle East Retail Sector Analysis (2007-2010)”
identifies huge availability of real estate for retail sector as the reason for
this. Dubai has emerged as a retail hub in the entire Middle East (ME). The city
accounted for nearly 1000 Square Meter of retail space for every 1000 people, or
over 50% of the total retail space across UAE.

Colliers International, a top property service consultants globally, said, Dubai is
poised to see the biggest actual increment in Gross Leasable Area (GLA) by the
decade end, from around 1.35 Million Square Meter in 2006 to over 4 Million Square
Meter. As against some other states in Gulf Cooperation Council, Dubai’s
retail realty will not stagnate in foreseeable future.

According to “Middle East Retail Sector Analysis (2007-2010)”, a report
by RNCOS, the ME retail market is principally concentrated in GCC and it will grow
triple-fold by 2016. It is because the thriving tourism industry and growing
regional population incite the long-term prospects for the retail industry of the
region. Dubai will account for 30% of the total retail space in GCC during 2006 to
2010.

The market research report discusses the major retail markets in ME, with emphasis
on real estate, consumer spending, retail formats (modern and traditional),
opportunities, challenges, drivers, and future forecast.

About RNCOS E-Services Pvt Ltd.:

RNCOS, incorporated in the year 2002, is an industry research firm. It has a team of
industry experts who analyze data collected from credible sources. They provide
industry insights and analysis that helps corporations to take timely and accurate
business decision in today\'s globally competitive environment.


For more information visit: www.rncos.com/Report/IM518.htm
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Shushmul Maheshwari
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