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FINANCIAL NEWS
Abu Dhabi retail, tourism to grow slower than Dubai in 2013: Report
23 Dec 2012
(MENAFN) A recent report by Jones Lang LaSalle expected Abu Dhabi’s tourism and retail sectors to expand at a slower pace than neighboring Dubai next year, Arabian Business reported.
The report expected hotel rates in the near term to be stranded still absorbing a large number of new hotels.
It also said that the UAE capital’s retail market needed to develop to match the “high level of retail spending available”.
The report expected the Gulf emirate’s retail offering to improve as new high quality retail projects come online in 2013, including the Galleria on Al Maryah Island and Deerfields Town Square.
Also, the Yas Mall is slated for completion in 2014.
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