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Article: With annual growth in GCC consumer spending over the coming five years projected at 10-20 per cent, it is easy to see why the region is witnessing a boom in the construction of shopping malls.(Special Report: Retail)(Brief article)
- Article from:
- MEED Middle East Economic Digest
- Article date:
- August 8, 2008
CopyrightCOPYRIGHT 2008 MEED Middle East Economic Digest. All Rights Reserved. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Caption: With annual growth in GCC consumer spending over the coming five years projected at 10-20 per cent, it is easy to see why the region is witnessing a boom in the construction of shopping malls.
Not only do these iconic developments allow property developers to tap into the increased spending power of Gulf residents, they also provide landmark attractions aimed at driving residents, businesses and tourists to stay at a particular development.
Unsurprisingly, the Gulf retail boom is attracting the attention of international retail chains such as Marks & Spencer, Carrefour, Debenhams and Toys R Us. But it is the ...