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FINANCIAL NEWS
UAE retail sales to reach USD21.6b by year-end
19 Jul 2011
(MENAFN) The Dubai Shopping Malls Group’s board of directors’ member, Eisa Adam Ebrahim, said that by year-end, total retail sales in the country would be forecasted to go up to USD21.6 billion as a result of discounts on goods that reached 70 percent and attracted more shoppers, reported Gulf News.
Ebrahim added that this year, business at malls recorded better performance from 2010, since retailers were still affected by the global financial crisis, adding that due to the Dubai Summer Surprises (DSS) campaign, growth at malls group would be expected to increase notably.
He also said that during the last year, retail sales rose above 10 percent due to the extension of operating hours at 30 malls until midnight, in addition to the DSS campaign.
It is worth noting that due to an expansion in the number of tourists, malls at the country were enjoying stable consumer spending.
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