DUBAI // High inflation and blood-boiling temperatures have not deterred shoppers from opening their wallets, say officials at the Dubai Shopping Festival (DSF), where sales may have broken records during this year's summer leg of the event.
Dubai runs two festivals; the DSF during the cooler winter months from January to February, and the Dubai Summer Surprise (DSS) from July to August. In previous years both events were administered directly by the emirate's Economic Department, but their growth prompted the Government to establish a stand-alone autonomous office last year, the DSF, to run the events.
Consumer spending at this year's summer festival, which ends today, was an estimated 25 per cent more than the Dh3.2 billion (US$871 million) spent by shoppers last year, officials said. The number of visitors also jumped by about 10 per cent, up from last year's count of two million people.
"There were really high expectations this year since it was the first season we organised the festival since we were converted to a Government body, and I think we exceeded people's expectations," said Laila Suhail, the chief executive of the summer event. "We are really proud because we are the only Government body all over the world that is organising such a festival."
The first festival was created by a team of four people in 1996 under the umbrella of Dubai's Economic Department. It grossed Dh2.15bn and hosted some 1.6 million visitors. Last year's event had a staff of 45 people and was attended by 3.5 million visitors who spent more than Dh10.2bn. The summer version was launched in 1998, when it attracted more than 600,000 visitors who spent Dh850m.
The total budget allocated this year, for everything from the marketing campaign to event management, was Dh85m, said Ms Suhail. "We have been so successful all of these years in our efforts to convert the summer season into a shopping season here in Dubai," she said.
Sponsors participating in this year's event included 16 major corporations such as Etisalat, Emirates airline, Emarat petrol stations, Dubai Refreshments Company, Dubai World Trade Centre and Dubai Gold and Jewellery Group. Most of the major shopping centres and retail property groups were also involved, including Majid Al Futtaim (MAF) Shopping Malls, Dubai Shopping Malls Group, Wafi, Burjuman, Al Futtaim Group and Emaar Malls Group, which opens the colossal Dubai Mall in October.
"The key sponsorship of the DSS by Emaar Malls Group will help us position our malls as the latest value additions to Dubai's retail sector," said Jim Badour, the chief executive of Emaar Malls Group. "By integrating shopping and entertainment, the two drivers of retail today, DSS has outlined a model of growth for malls in the region."
Typically, the biggest sellers during Dubai's shopping festivals, gold and jewellery, remained strong during this year's DSS, with sales at participating outlets estimated at around Dh500m for the nine-week festival. Officials with Dubai Gold and Jewellery Group (DGJG) said this figure surpassed their expectations, particularly given rising inflation rates and market volatility in recent months.
"We really did very well," said Swapna Nair, the general manager at DGJG. "Summer tends to be a little slow but we actually did much better than expected, probably because of the slump in gold prices recently."
Officials with the shopping festival are now setting their sights on next year's Dubai Shopping Festival, scheduled to begin in January.
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Milestones on the road to union
1970
October 26: Bahrain withdraws from a proposal to create a federation of nine with the seven Trucial States and Qatar.
December: Ahmed Al Suwaidi visits New York to discuss potential UN membership.
1971
March 1: Alex Douglas Hume, Conservative foreign secretary confirms that Britain will leave the Gulf and “strongly supports” the creation of a Union of Arab Emirates.
July 12: Historic meeting at which Sheikh Zayed and Sheikh Rashid make a binding agreement to create what will become the UAE.
July 18: It is announced that the UAE will be formed from six emirates, with a proposed constitution signed. RAK is not yet part of the agreement.
August 6: The fifth anniversary of Sheikh Zayed becoming Ruler of Abu Dhabi, with official celebrations deferred until later in the year.
August 15: Bahrain becomes independent.
September 3: Qatar becomes independent.
November 23-25: Meeting with Sheikh Zayed and Sheikh Rashid and senior British officials to fix December 2 as date of creation of the UAE.
November 29: At 5.30pm Iranian forces seize the Greater and Lesser Tunbs by force.
November 30: Despite a power sharing agreement, Tehran takes full control of Abu Musa.
November 31: UK officials visit all six participating Emirates to formally end the Trucial States treaties
December 2: 11am, Dubai. New Supreme Council formally elects Sheikh Zayed as President. Treaty of Friendship signed with the UK. 11.30am. Flag raising ceremony at Union House and Al Manhal Palace in Abu Dhabi witnessed by Sheikh Khalifa, then Crown Prince of Abu Dhabi.
December 6: Arab League formally admits the UAE. The first British Ambassador presents his credentials to Sheikh Zayed.
December 9: UAE joins the United Nations.
Company%20Profile
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20Takestep%0D%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%20March%202018%0D%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Mohamed%20Khashaba%2C%20Mohamed%20Abdallah%2C%20Mohamed%20Adel%20Wafiq%20and%20Ayman%20Taha%0D%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Cairo%2C%20Egypt%0D%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20health%20technology%0D%3Cbr%3E%3Cstrong%3EEmployees%3A%3C%2Fstrong%3E%20%2011%20full%20time%20and%2022%20part%20time%0D%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%3C%2Fstrong%3E%20pre-Series%20A%3C%2Fp%3E%0A
Padmaavat
Director: Sanjay Leela Bhansali
Starring: Ranveer Singh, Deepika Padukone, Shahid Kapoor, Jim Sarbh
3.5/5
The%20Roundup%20%3A%20No%20Way%20Out
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'The Ice Road'
Director: Jonathan Hensleigh
Stars: Liam Neeson, Amber Midthunder, Laurence Fishburne
2/5
UAE currency: the story behind the money in your pockets
Specs%20
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Company%20Profile
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COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
What the law says
Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.
“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.
“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”
If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.
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Match statistics
Dubai Sports City Eagles 8 Dubai Exiles 85
Eagles
Try: Bailey
Pen: Carey
Exiles
Tries: Botes 3, Sackmann 2, Fourie 2, Penalty, Walsh, Gairn, Crossley, Stubbs
Cons: Gerber 7
Pens: Gerber 3
Man of the match: Tomas Sackmann (Exiles)
The years Ramadan fell in May