Tag Archives: dubai investment news
Dubai retains status as global retail hotspot
Dubai has retained its status as an important global retail hub, as a new study confirmed it is streets ahead of other renowned shopping hotspots like Paris and New York.CBRE's latest report – entitled How Global is the Business of Retail? – suggested the UAE-based city only plays second fiddle to London when it comes to worldwide “hot markets”.Dubai has attracted some of the most famous and exclusive brands in the past few years, which is hardly surprising given the emirate's incredible reputation.Indeed, the city is home to the largest malls on the planet and it is also a playground for the rich and famous, so there is always a stream of wealthy holidaymakers looking to add expensive new items to their wardrobes.Global retailers are well aware of this and the CBRE research indicated that Dubai is still the highest ranked target market for brands that are looking to increase their presence in the Middle East.In total, 25 new retailers launched outlets in Dubai for the first time in 2012, including established names such as Franklin & Marshall, Galvanni and Cheesecake Factory.Managing director of CBRE Middle East Nicholas Maclean said Dubai's status as a family-friendly tourism destination also makes it an appealing location for retailers to open stores.”The doubling of its visitor numbers to ten million per annum in 2012 and its commitment to double these numbers again by 2020, makes the emirate highly attractive for existing and new retailers,” he remarked.There is every chance that Dubai will remain near the top of CBRE's future retail hotspot lists, as a multitude of well known firms have outlined their intention to take advantage of the lucrative Middle Eastern market in the next few years.Leaders of UAE conglomerate Majid Al Futtaim recently revealed that US clothing manufacturer Abercrombie & Fitch has agreed to open its very first Dubai-based store in 2014.It is yet to be confirmed exactly where the company may locate its store, but there is every chance it will be in one of the city's main malls. Continue reading
More airlines expected to move to Dubai World Central
Leaders at Dubai Airports have confirmed that talks are ongoing with a number of airlines with a view to bringing more services to the new Dubai World Central (DWC) Airport.Chief executive officer at the organisation Paul Griffiths told Arabian Business that a “stampede” of carriers are expected to move into the facility.DWC only opened in 2010 and has been used solely to transport cargo thus far, although the airport has now been redeveloped to enable it to accommodate passengers.The aviation complex will take some of the strain off the city's main airport – Dubai International – which seems to get busier every year. Indeed, 66 million people are predicted to fly into the facility in 2013.Mr Griffiths thinks that as soon as one or two airlines have committed to providing services from DWC, others will follow.”We're talking to a great number of airlines but airlines really don't like being the first mover and when you see an airline go in and be successful, then you'll find that we're overtaken by a complete stampede of airlines wanting to be there,” he was quoted as saying.”I'm hopeful that over the next few months we will be announcing some more carriers will be operating from DWC.”The airport's cargo operations have been very successful to date, so much so that March 2013 was a record month for freight volumes.Mr Griffiths believes this will encourage airlines to use the airport for passenger services and he hopes tens of thousands of people will pass through DWC in its first year of operation.Meanwhile, work to extend Dubai International Airport is ongoing and plans are in place to raise the annual capacity to 90 million people in the coming years.Dubai Airports recently revealed details of an 80-day project that will see the facility's runways given a new lease of life.The organisation said the work – which will begin in May 2014 – is vital if the ambitious expansion targets are to be achieved. Continue reading
Emirates adds A380 aircrafts to Brisbane route
Emirates has announced that Brisbane will be the third Australian destination to be served by its doubledecker A380 planes.The airline already operates such services to Sydney and Melbourne and this latest announcement will ensure even more people can travel between Dubai and Australia.It will open up an extra 135 seats per flight – the equivalent of 1,890 a week – and the service will also go on to Auckland in New Zealand.Salem Obaidalla, Emirates' senior vice president of commercial operations in the Far East and Australasia, said the firm is the first to bring this revolutionary aircraft to the Queensland-based airport.He added that the decision to enhance services on this particular route was made on the back of rising demand for travel between Australia/New Zealand and the UAE.”The Dubai-Brisbane-Auckland route is a popular choice among business and leisure travellers alike and the new Emirates A380 service will be instrumental in helping Emirates meet its passenger demand as well as deliver considerable economic benefits through inbound seats and travel connections,” he remarked.Mr Obaidalla said Australia is an important market for Emirates and the country is in the top three countries on the carrier's international network.The new A380 offering will launch in October 2013 and by then the company will be providing six daily A380 services between Dubai and Australia.Emirates only started to offer A380 flights in 2008, but since then it has carried 14 million passengers on 35,000 trips around the world.The firm recently secured a deal with prominent Australian airline Qantas, which will further help to connect the two countries.Earlier this week (May 13th), the pair announced that New Zealand's minister for transport had approved the agreement. This is important, as Emirates is keen to increase its presence in New Zealand.President of Emirates Tim Clark labelled the organisation's relationship with Qantas as a “game-changing partnership” that brings together two of the world's leading carriers. Continue reading
