Retailers should aim for the UAE as Abu Dhabi's ambitious plans, including the Formula One Grand Prix development on Yas Island and museum projects on Sadiyaat, put the country among the top five emerging markets with the most retail potential, an international management consultancy says.
The Emirates is the fourth most potentially lucrative markets in the world for retailers on AT Kearney's annual Global Retail Development Index, which ranks 30 emerging countries.
The UAE climbed 16 places this year, the highest jump by any country, thanks to its resilience during the economic downturn and Abu Dhabi's projects in the pipeline, such as Reem Island and the carbon-free Masdar City, which have major retail components.
"These are all things that will attract retail around it," said Robert Ziegler, the vice president of AT Kearney in Dubai
India leads the index, ahead of Russia, China, then the UAE. Saudi Arabia is fifth, up two places.
aligaya@thenational.ae
Scoreline
Liverpool 3
Mane (7'), Salah (69'), Firmino (90')
Bournemouth 0
Company%20Profile
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UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
Vidaamuyarchi
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Rating: 4/5
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Friday: First practice - 1pm; Second practice - 5pm
Saturday: Final practice - 2pm; Qualifying - 5pm
Sunday: Etihad Airways Abu Dhabi Grand Prix (55 laps) - 5.10pm
THE LIGHT
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Starring: Tala Al Deen, Nicolette Krebitz, Lars Eidinger
Rating: 3/5
Company profile
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Based: Dubai
Launch year: 2017
Number of employees: 90
Sector: Online gaming industry
Funding: $1.2m from a UAE angel investor
COMPANY PROFILE
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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
The years Ramadan fell in May
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
ENGLAND TEAM
Alastair Cook, Mark Stoneman, James Vince, Joe Root (captain), Dawid Malan, Jonny Bairstow, Moeen Ali, Chris Woakes, Craig Overton, Stuart Broad, James Anderson