Retail interior and fit out over $640 million in the GCC in 2011

Retail interior and fit out over $640 million in the GCC in 2011

Dubai, Index, Retail

The total spend on retail projects in the UAE reached $1084 million in 2010, with the forecast for 2011 in GCC expected to go over $640 million on interiors and fit-out projects.

The demand for retail space is said to grow at a rate of 9.5% per annum in 2011 and 2012 in the GCC region (UAE, Saudi Arabia, Kuwait, Bahrain, Oman and Qatar), according to the latest ‘GCC Construction Overview’ by Ventures Middle East.

The InRetail Exhibition will take advantage of this growth and take place alongside the INDEX Design Exhibition 2011 in Dubai. It will provide the retail industry with a platform where retail professionals can view the latest services and systems for their stores.

“The GCC region is home to many of the most impressive and luxurious retail establishments in the world,” said Michaella Black, InRetail project manager.

“Increasingly, retailers are changing their tactics to make sure that they achieve optimum business success.  There is a greater need to enhance retail experiences through innovative store designs, ambient settings and technologies that all help to combat competition and build brand integrity,” she said.

InRetail will introduce a regional conference alongside the exhibition to allow the retail industry to capitalise on new market opportunities, meet with other professionals and explore new business opportunities.

Black added that the retail market is one of the fastest growing industries in the GCC, and the growth figures show that there is life in retail market and the region offers lucrative business opportunities.

“There is still a huge opportunity across the GCC for developing Hypermarkets, Supermarkets and Convenience Stores due to the changing shopping trends within the region. Consumers are changing from traditional markets to a more convenient one stop shop,” said Clifford Morris, group retail operations manager, EMKE.

The InRetail Exhibition will take place on October 22-25, 2011, along with INDEX.

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