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FINANCIAL NEWS
GCC retail sector to expand 7.3 percent to USD284.5b
12 Jul 2015
(MENAFN) Continuous growth across key economic sectors such as FMCG, retail, oil and gas, is fuelling demand for high quality materials handling products and services across the Middle East, Saudi Gazette reported.
This is reflected in the Gulf region’s retail sector, as retail space across the GCC stood at 10 million sqm in 2013, while regional retail sales are set to grow 7.3 percent annually to reach USD284.5 billion by 2020.
The UAE logistics market alone is expected to be worth USD27 billion in 2015, up 15 percent from 2013, thanks to strong import and export figures as well as an uptick in local manufacturing, according to Frost & Sullivan.
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