Dubai is known for building things bigger and better than anyone else in the world, and now it has another accolade – the globe’s most important shopping destination. A report by CBRE claims the city has more international brands than anywhere else in the world, and has overtaken London.
According to Gulf News, the study shows that Dubai is home to 62 percent of global retailers, after introducing 59 new brands in the last year.
“Dubai remains the most attractive market in the region for retailers, with many using the emirate as a ‘launch pad’ for regional expansion,” said Nick Maclean, managing director of CBRE Middle East and Turkey Region.
“Advancements in retail technology and e-commerce have, however, forced retailers to rethink their strategies. Several retailers are changing their approach in the market with a focus on opening digital platforms and increasing operational efficiencies.”
The extensions added a staggering one million square feet the mall, which was already the largest on the globe before work began.