Food & Drink Alcohol brands blocked from Dubai target Abu Dhabi Independent alcohol brands blocked from the Dubai market are entering the UAE by breaking into the more open Abu Dhabi market, industry insiders have said. The alcohol market in the UAE is regulated at the emirate level, and each has different levels of access and competition. Dubai’s market is a duopoly. Two distributors – Maritime […] March 8, 2024
Food & Drink Kuwait’s Alshaya lays off Mena Starbucks staff Kuwait’s Alshaya Group, one of the Gulf’s largest franchise owners, is cutting jobs at its Starbucks outlets. The coffee brand has suffered from calls for a boycott since the start of the Gaza conflict. “As a result of the continually challenging trading conditions over the last six months, we have taken the sad and very […] March 5, 2024
Video length: 05:02 VIDEO Food & Drink Made in UAE: consumers turn to local food brands UAE consumers are increasingly turning to locally produced products, according to the head of a multi-billion-dirham food and beverage conglomerate. Consumption patterns in the region are changing rapidly, prioritising healthy lifestyles, time-saving and convenience while maintaining authentic tastes. “If you can produce something locally, give them good value for money, they are much more open […] February 27, 2024
Agriculture Onion prices surge 300% in Oman Onion prices have increased by 300 percent in Oman, primarily due to a ban on exports from India, according to a local media report. Prices rose from 0.14 baisas ($0.36 cents) per kilogramme in 2023 to 0.47 baisas per kilogramme in December of 2023, before surging to 0.6 baisas per kilogramme by mid-February 2024, the […] February 19, 2024
Leisure & Hospitality Cenomi Centers gets $1.4bn to support growth plans Cenomi Centers, Saudi Arabia’s largest shopping mall operator, has secured sustainability-linked financings worth SAR5.3 billion ($1.4 billion) from a consortium of regional banks. HSBC Saudi Arabia led the syndication, with participation from Saudi National Bank, Saudi Awwal Bank, Arab National Bank, Commercial Bank of Dubai, Mashreq Bank, and Qatar National Bank. The new facilities consist […] February 14, 2024
Video length: 04:37 Retail Look to lab-grown diamonds, says Bollywood’s Vivek Oberoi When you google the word “lab”, among the top three predictions in the search bar is likely to be “lab-grown diamonds”. Gen Z are driving the sales and demand of lab-grown diamonds, which are surging as the fastest growing segment within the jewellery sector. Being 40 to 50 percent cheaper than natural diamonds, the gems […] February 14, 2024
Opinion Retail Gulf retailers are missing a digital trick Consumer behaviour on social platforms has rapidly evolved and companies need to keep up February 13, 2024
Media & Advertising Tihama board member rebels as group’s losses exceed $37m A board member at troubled Saudi Arabian media group Tihama has rebelled over the company’s decision not to appeal against a court ruling that blocks its rescue plan. Sultan Abdul Latif Nuqli, a non-executive director, has filed a unilateral request to appeal against the Riyadh Commercial Court decision to reject Tihama’s restructuring proposal. The move […] February 12, 2024
Retail Free delivery is decisive for UAE and Saudi shoppers Among the myriad discounts and perks offered by the Gulf’s retail sector, one factor that stands as a vital consideration for UAE and Saudi shoppers is free delivery, a report has found. A survey by the buy-now-pay-later platform Tabby found that free shipping outweighs the allure of customer loyalty schemes. In all, 29 percent of […] February 9, 2024
Exclusive Retail Asia’s largest beauty retailer plans GCC expansion Watsons, Asia’s largest health and beauty retailer, is to launch in two more GCC markets after recording sales growth of 53 percent in the region last year. The company has 18 stores in the UAE, Saudi Arabia and Qatar through a franchise deal with AI Futtaim Group. It is targeting expansion into Bahrain and Kuwait […] February 9, 2024
Leisure & Hospitality Cenomi Centers sells Riyadh shopping mall for $53m Arabian Centres Co., know as Cenomi Centers and Saudi Arabia’s largest shopping mall operator, has sold Sahara Plaza in Riyadh for SAR200 million ($53.33 million). The shopping centre is the fourth asset to be sold as part of the company’s programme to sell a portfolio of non-core assets worth SAR2 billion. Sahara Plaza has been […] February 4, 2024
Analysis Retail The perks and pitfalls of the UAE’s retail loyalty sector When customers consistently fly with Emirates or buy their daily coffee at Tim Hortons, the chances are high that they are members of a loyalty programme – and companies deploy them to ensure they return to the brand. But UAE consumers are increasingly discerning about the brands and products with which they interact. “The direct […] February 1, 2024
Opinion Real Estate Landlords must keep up with changing retail markets or fail Saudi Arabia's mall owners need to be aware of the needs of developers and tenants January 31, 2024
Real Estate Tecom profit rises 49% on growing customer demand Tecom Group saw net profit for 2023 rise 49 percent year on year to AED1.1 billion ($299.48 million) on robust demand from new and existing customers across all its six business clusters. The company registered broad-based growth across the business, owing to the group’s ongoing efforts to enhance operations and reduce costs. Revenue reached a […] January 31, 2024
Retail Saudi footfall at Cenomi Centers beats pre-Covid level Footfall across Saudi Arabia’s largest shopping mall operator rose 19 percent year on year in 2023, eclipsing the pre-Covid level of 114 million in 2019. Cenomi Centers reported that the number of people through the doors at its 22 locations in 10 Saudi cities reached 124 million last year. Like-for-like occupancy rose from 90.3 percent on September […] January 31, 2024
Trade Red Sea crisis ‘will push up Middle East consumer prices’ Higher prices will be seen in Middle East shops if the crisis in the Red Sea continues for another two months, the research firm BMI has warned. In late November, Houthi rebels in Yemen began attacking commercial vessels travelling through the Red Sea in what they claim is a show of support for Palestinians in […] January 30, 2024
People & Lifestyle Saudi to open alcohol store for non-Muslim diplomats Saudi Arabia will open its first alcohol store in Riyadh that will be available exclusively to non-Muslim diplomats, according to several media reports. Customers will have to register through a mobile app, get a clearance code from the foreign ministry, and respect monthly purchase quotas, Reuters reported, citing a document. The foreign affairs ministry is […] January 25, 2024
Retail Rare chance to book profits for well-read investors From his shop in Dubai’s Alserkal Avenue, Alex Warren has been asked to source books by a particular Kazakh author, rare Indian poetry and even a copy of Catcher in the Rye in every language ever published. “That was quite odd,” says Warren, who opened Zerzura Rare Books in October 2022. “I didn’t hear from […] January 19, 2024
Retail Kuwait’s Alshaya scales back operations in Egypt Kuwait’s Alshaya Group, one of the Gulf’s largest franchise owners, is scaling back its operations in Egypt due to “the difficulties faced by overseas businesses” in the North African country. “As a result of the economic situation over the last three years and the difficulties faced by overseas businesses trading in Egypt, we have taken […] January 18, 2024
Exclusive Retail Dubai is building bricks-and-mortar appeal, says Jumbo CEO Dubai will remain a stronghold for bricks-and-mortar shopping despite the increased competition from online retailers, according to the chief executive officer of the UAE conglomerate Jumbo Group. “The city’s unique market dynamics, such as demand for luxurious goods, coupled with a significant tourist influx contribute to the continued relevance of physical stores,” Vikas Chadha told […] January 18, 2024
Media & Advertising Saudi media group Tihama to appeal against court ruling The company that operates WH Smith shops in Saudi Arabia is to appeal against a court ruling that blocks its financial rescue plan. The Commercial Court in Riyadh rejected the proposal from media group Tihama on Monday. Shareholders approved the financial restructuring plan recommended by Tihama’s board of directors last month. More than 99 percent […] January 16, 2024
Retail UAE’s LuLu to build India’s largest shopping mall for $483m The UAE retail conglomerate LuLu Group is to develop India’s largest shopping mall, in Ahmedabad, Gujarat, for an estimated cost of 40 billion rupees ($482.67 million). The construction for the proposed shopping mall will start this year, Asian News International (ANI) news agency reported, quoting comments by Yusuff Ali MA, chairman and managing director of […] January 14, 2024
