Y K Almoayyed & Sons - Electronics & Home Appliances

Households are turning to quicker and more efficient solutions for their laundry needs as Bahrain embraces the cooler winter months. YK Almoayyed & Sons Electronics and Home Appliances has announced its latest range of Ignis Condenser Dryers. Offering reliability and advanced technology these dryers are designed to meet the demands of every family making laundry care effortless during this winter season. For smaller households Ignis condenser dryer model IGT71CDRW is an energy-efficient solution with a B energy rating and a 7kg capacity dryer. Equipped with sensor drying technology and an anti-crease function it ensures optimal results while saving time and effort. The child lock and delay start timer add extra convenience for busy families. Offering an 8kg capacity and an A energy rating IGT8CDRW model is perfect for medium-sized families. With programmes tailored for eco drying mixed loads and sportswear the reverse tumble action minimises tangling and reduces wrinkles. Its low-noise operation makes it a great choice for late-night drying sessions. The IGT9CDRW boasts a generous 9kg capacity and a highly efficient A energy rating. With heat pump technology this model ensures minimal energy consumption while delivering superior drying performance. Wi-Fi connectivity allows for remote operation and the self-cleaning condenser simplifies maintenance for long-lasting reliability. Ignis Condenser Dryers are also equipped with advanced sensor technology that adapts to moisture levels ensuring efficient drying and care for all fabric types. From delicate wool sweaters to sportswear these dryers are designed to keep your wardrobe in pristine condition. Speaking on Ignis Condenser Dryers YKA Electronics and Home Appliances Division business head A C Dilip said: The Ignis range of condenser dryers has been developed to address the specific needs of households in Bahrain especially during the winter season. With energy-efficient solutions advanced drying programmes and thoughtful features Ignis dryers offer unmatched convenience and reliability. YKA is committed to bringing innovative home appliances that enhance everyday living for our customers. Ignis Condenser Dryer range is available at YKA Electronics and Home Appliances showrooms in Manama: 17211881 and Gudaibiya: 17742656 as well as online at www.shopalmoayyed.com. It can also be purchased from major supermarkets power retailers and dealer outlets across Bahrain.

The Toshiba C450MW Quantum Dot 4K Smart TV aims to bring a spectacular viewing experience to Bahrain by combining Toshiba s renowned engineering with breakthrough Quantum Dot technology. Y K Almoayyed & Sons (YKA) has unveiled the latest in premium television technology designed to redefine home entertainment standards. The C450MW offers a stunning 4K Quantum Dot display which enhances colours contrast and detail. With four times the resolution of full high definition (HD) each pixel delivers crisp visuals while Quantum Dot technology brings depth to every shade displaying a rich spectrum of colours that transform scenes into lifelike experiences. From the vibrant reds to the deep blues the C450MW ensures that colours pop making it ideal for movie lovers sports enthusiasts and avid gamers alike. Further elevating its place in the market it is fully equipped with HDR10 and Hybrid Log-Gamma (HLG) support. This dual HDR system boosts both brightness and contrast delivering intricate details in every scene from the darkest shadows to the brightest highlights. These features distinguish this entertainment TV from conventional 4K models as it provides superior image quality clarity and vibrancy for a truly immersive experience. We re thrilled to introduce the Toshiba C450MW to our customers in Bahrain. With its Quantum Dot technology and intelligent design this model brings a whole new level of quality to home entertainment said YKA Electronics and Home Appliances Division business head AC Dilip. At Y K Almoayyed & Sons we prioritise bringing our customers reliable high-performance products that enrich their lives. The C450MW stands as a testament to Toshiba s commitment to innovation and our dedication to offering only the best to our customers. The Toshiba C450MW offers a powerful smart interface granting viewers instant access to a vast library of content from popular streaming services including Netflix YouTube and Amazon Prime Video. The built-in voice control and intuitive navigation add convenience making it simple to browse and enjoy a wide variety of content without additional devices. Crafted with a sleek minimalist design it features slim bezels and a streamlined profile blending style with functionality. It s an aesthetic centrepiece for any room suited to elevate the modern home. The Toshiba C450MW s Dolby Audio integration offers clear and dynamic sound quality that matches the visual excellence of the display. With enhanced sound clarity balanced bass and immersive audio viewers are treated to an engaging experience that completes their entertainment setup. In the competitive market of 4K televisions the Toshiba C450MW Quantum Dot TV stands out for its combination of innovative display technology powerful smart features and elegant design added a YKA company spokesperson. The company invites customers in Bahrain to experience the future of home entertainment with the Toshiba C450MW an investment in both quality and technology. For more information visit YKA Electronics and Home Appliances showrooms in Manama: 17211881 and Gudaibiya: 17742656 as well as online at www.shopalmoayyed.com and major supermarkets and retailers.

Globally-renowned brand Panasonic is now offering its premium range with an extended three-month warranty to Bahrain customers who purchase and register their products through the Panasonic Smart Care App. The range includes Panasonic energy-efficient refrigerators top-load washers powerful vacuum cleaners irons garment steamers and a wide variety of personal care products for both men and women. Speaking on the brand the spokesperson of Y K Almoayyed and Sons (YKA) Electronics and Home Appliances the distribution partner of Panasonic in Bahrain said: Panasonic is not just another brand it is synonymous with excellence bringing the perfect blend of innovation and durability to your home. Whether you re benefiting from the energy-saving inverter technology in their refrigerators or achieving professional results with personal grooming tools every Panasonic product reflects an unwavering commitment to superior performance and long-lasting quality. What truly sets Panasonic apart in today s competitive market the company says is its premium craftsmanship and a user-centric design that guarantees reliability over time. Panasonic s top-load washers for instance are built to maximise efficiency reducing both water and energy consumption while their small domestic appliances like iron and garment steamers are designed for everyday convenience and durability; making life easier for modern households. YKA Electronics and Home Appliances Division business head A C Dilip said: Panasonic is more than just a household name it s a premium brand that promises quality and trust. We are delighted to bring Panasonic s innovative products to the Bahraini market where consumers can experience first-hand the brand s dedication to creating smart reliable solutions. By offering an extended warranty through the Panasonic Smart Care App we are emphasising our confidence in the durability and excellence of Panasonic products. Get your Panasonic products at YKA Electronics and Home Appliances showrooms in Manama (17211881/66396241) or Gudaibiya (17742656/663965761) or online at www.shopalmoayyed.com. Panasonic products are also available in major supermarkets and power retailers across Bahrain.

Imagine bringing home a brand-new state-of-the-art television or air conditioner without the worry of paying a hefty upfront cost. Y K Almoayyed and Sons (YKA) Electronics and Home Appliances has partnered with FLOOSS Bahrain s first Sharia-compliant digital financing platform to offer customers a more convenient and affordable way to purchase their desired home appliances. With FLOOSS customers can now enjoy the luxury of spreading the cost of their purchases over a period of time making it easier to fit their new appliance into their budget. Whether you re a new homeowner a newlywed or a young professional FLOOSS offers a hassle-free way to upgrade your living space without breaking the bank. The process is simple. Just visit one of YK Almoayyed and Sons showrooms and select the appliance you want. Apply for FLOOSS financing which offers instant digital approval and walk away with your purchase on the same day. Whether it s the latest Toshiba SMART TV a Panasonic refrigerator a Super General air conditioner a Glemgas Cooker or any other top-rated appliance our clients can now buy with confidence and no financial stress said YKA Electronics and Home Appliances Division business head AC Dilip. Our showrooms are filled with a wide variety of electronics and appliances and with FLOOSS s instalment plans they re more accessible than ever. So if you re ready to upgrade your home visit YKA Electronics and Home Appliances showroom located in Manama (17211881/66396240) or Gudaibiya (17742656/66396571).

A golden partnership has switched on the kingdom to the reliability and product quality appreciated the world over as a touch of cool kaizen . For five decades Y K Almoayyed & Sons (YKA) has been a trusted distribution partner of Toshiba continuing to provide Bahrain s households with premium Japan-quality home appliances. Toshiba s refrigerator range for example stands as a testament to the brand s long standing reputation for reliability innovation and durability making it the preferred choice for families across Bahrain said a brand representative. Since its introduction to the Bahrain market more than 50 years ago Toshiba has consistently delivered high-quality home appliances that are renowned for being built to last . Through YKA the brand s exclusive distributor Toshiba refrigerators have earned the trust of households by offering advanced features that provide superior cooling efficiency energy savings and enhanced food preservation in comparison to many other brands. The concept of continuous improvement however known as kaizen is a fundamental aspect of Japanese culture. The pursuit of perfection and the desire to constantly refine and enhance processes and products are deeply embedded in the Japanese work ethic. One of the key factors that distinguish Toshiba refrigerators is its uncompromising commitment to quality and durability. Featuring cutting-edge technology such as Inverter Compressors Toshiba refrigerators not only keep food fresher for longer but also contribute to lower energy consumption helping families save on their electricity bills. Additionally the sleek modern designs ensure the items fit seamlessly into any kitchen aesthetic. Toshiba offers an industry-leading 12-year warranty on compressors providing consumers with peace of mind and long-term assurance of reliability. YKA Electronics and Home Appliances Division business head AC Dilip expressed his pride in the continued success of the Toshiba refrigerator range: Toshiba has been a household name in Bahrain for over five decades and its refrigerators continue to be the brand of choice for families who prioritise quality durability and energy efficiency he said. With our 12-year compressor warranty and superior cooling technology Toshiba remains committed to bringing the best of Japan s craftsmanship to Bahraini homes. We are proud to partner with Toshiba to offer products that deliver unmatched value and peace of mind. Toshiba s refrigerators are available in a wide range of sizes and configurations catering to the varying needs of households. Whether it is for a large family or a compact living space Toshiba s reputation for innovation quality and performance continues to make it the top choice in Bahrain s competitive home appliance market. n Shop for a Toshiba refrigerator at YKA Electronics and Home Appliances showrooms in Manama: 17211881 and Gudabiya: 17742656 as well as online at www.shop.almoayyed.com and major supermarkets and retailers.

Households are turning to quicker and more efficient solutions for their laundry needs as Bahrain embraces the cooler winter months. YK Almoayyed & Sons Electronics and Home Appliances has announced its latest range of Ignis Condenser Dryers. Offering reliability and advanced technology these dryers are designed to meet the demands of every family making laundry care effortless during this winter season. For smaller households Ignis condenser dryer model IGT71CDRW is an energy-efficient solution with a B energy rating and a 7kg capacity dryer. Equipped with sensor drying technology and an anti-crease function it ensures optimal results while saving time and effort. The child lock and delay start timer add extra convenience for busy families. Offering an 8kg capacity and an A energy rating IGT8CDRW model is perfect for medium-sized families. With programmes tailored for eco drying mixed loads and sportswear the reverse tumble action minimises tangling and reduces wrinkles. Its low-noise operation makes it a great choice for late-night drying sessions. The IGT9CDRW boasts a generous 9kg capacity and a highly efficient A energy rating. With heat pump technology this model ensures minimal energy consumption while delivering superior drying performance. Wi-Fi connectivity allows for remote operation and the self-cleaning condenser simplifies maintenance for long-lasting reliability. Ignis Condenser Dryers are also equipped with advanced sensor technology that adapts to moisture levels ensuring efficient drying and care for all fabric types. From delicate wool sweaters to sportswear these dryers are designed to keep your wardrobe in pristine condition. Speaking on Ignis Condenser Dryers YKA Electronics and Home Appliances Division business head A C Dilip said: The Ignis range of condenser dryers has been developed to address the specific needs of households in Bahrain especially during the winter season. With energy-efficient solutions advanced drying programmes and thoughtful features Ignis dryers offer unmatched convenience and reliability. YKA is committed to bringing innovative home appliances that enhance everyday living for our customers. Ignis Condenser Dryer range is available at YKA Electronics and Home Appliances showrooms in Manama: 17211881 and Gudaibiya: 17742656 as well as online at www.shopalmoayyed.com. It can also be purchased from major supermarkets power retailers and dealer outlets across Bahrain.

The Toshiba C450MW Quantum Dot 4K Smart TV aims to bring a spectacular viewing experience to Bahrain by combining Toshiba s renowned engineering with breakthrough Quantum Dot technology. Y K Almoayyed & Sons (YKA) has unveiled the latest in premium television technology designed to redefine home entertainment standards. The C450MW offers a stunning 4K Quantum Dot display which enhances colours contrast and detail. With four times the resolution of full high definition (HD) each pixel delivers crisp visuals while Quantum Dot technology brings depth to every shade displaying a rich spectrum of colours that transform scenes into lifelike experiences. From the vibrant reds to the deep blues the C450MW ensures that colours pop making it ideal for movie lovers sports enthusiasts and avid gamers alike. Further elevating its place in the market it is fully equipped with HDR10 and Hybrid Log-Gamma (HLG) support. This dual HDR system boosts both brightness and contrast delivering intricate details in every scene from the darkest shadows to the brightest highlights. These features distinguish this entertainment TV from conventional 4K models as it provides superior image quality clarity and vibrancy for a truly immersive experience. We re thrilled to introduce the Toshiba C450MW to our customers in Bahrain. With its Quantum Dot technology and intelligent design this model brings a whole new level of quality to home entertainment said YKA Electronics and Home Appliances Division business head AC Dilip. At Y K Almoayyed & Sons we prioritise bringing our customers reliable high-performance products that enrich their lives. The C450MW stands as a testament to Toshiba s commitment to innovation and our dedication to offering only the best to our customers. The Toshiba C450MW offers a powerful smart interface granting viewers instant access to a vast library of content from popular streaming services including Netflix YouTube and Amazon Prime Video. The built-in voice control and intuitive navigation add convenience making it simple to browse and enjoy a wide variety of content without additional devices. Crafted with a sleek minimalist design it features slim bezels and a streamlined profile blending style with functionality. It s an aesthetic centrepiece for any room suited to elevate the modern home. The Toshiba C450MW s Dolby Audio integration offers clear and dynamic sound quality that matches the visual excellence of the display. With enhanced sound clarity balanced bass and immersive audio viewers are treated to an engaging experience that completes their entertainment setup. In the competitive market of 4K televisions the Toshiba C450MW Quantum Dot TV stands out for its combination of innovative display technology powerful smart features and elegant design added a YKA company spokesperson. The company invites customers in Bahrain to experience the future of home entertainment with the Toshiba C450MW an investment in both quality and technology. For more information visit YKA Electronics and Home Appliances showrooms in Manama: 17211881 and Gudaibiya: 17742656 as well as online at www.shopalmoayyed.com and major supermarkets and retailers.

Globally-renowned brand Panasonic is now offering its premium range with an extended three-month warranty to Bahrain customers who purchase and register their products through the Panasonic Smart Care App. The range includes Panasonic energy-efficient refrigerators top-load washers powerful vacuum cleaners irons garment steamers and a wide variety of personal care products for both men and women. Speaking on the brand the spokesperson of Y K Almoayyed and Sons (YKA) Electronics and Home Appliances the distribution partner of Panasonic in Bahrain said: Panasonic is not just another brand it is synonymous with excellence bringing the perfect blend of innovation and durability to your home. Whether you re benefiting from the energy-saving inverter technology in their refrigerators or achieving professional results with personal grooming tools every Panasonic product reflects an unwavering commitment to superior performance and long-lasting quality. What truly sets Panasonic apart in today s competitive market the company says is its premium craftsmanship and a user-centric design that guarantees reliability over time. Panasonic s top-load washers for instance are built to maximise efficiency reducing both water and energy consumption while their small domestic appliances like iron and garment steamers are designed for everyday convenience and durability; making life easier for modern households. YKA Electronics and Home Appliances Division business head A C Dilip said: Panasonic is more than just a household name it s a premium brand that promises quality and trust. We are delighted to bring Panasonic s innovative products to the Bahraini market where consumers can experience first-hand the brand s dedication to creating smart reliable solutions. By offering an extended warranty through the Panasonic Smart Care App we are emphasising our confidence in the durability and excellence of Panasonic products. Get your Panasonic products at YKA Electronics and Home Appliances showrooms in Manama (17211881/66396241) or Gudaibiya (17742656/663965761) or online at www.shopalmoayyed.com. Panasonic products are also available in major supermarkets and power retailers across Bahrain.

Imagine bringing home a brand-new state-of-the-art television or air conditioner without the worry of paying a hefty upfront cost. Y K Almoayyed and Sons (YKA) Electronics and Home Appliances has partnered with FLOOSS Bahrain s first Sharia-compliant digital financing platform to offer customers a more convenient and affordable way to purchase their desired home appliances. With FLOOSS customers can now enjoy the luxury of spreading the cost of their purchases over a period of time making it easier to fit their new appliance into their budget. Whether you re a new homeowner a newlywed or a young professional FLOOSS offers a hassle-free way to upgrade your living space without breaking the bank. The process is simple. Just visit one of YK Almoayyed and Sons showrooms and select the appliance you want. Apply for FLOOSS financing which offers instant digital approval and walk away with your purchase on the same day. Whether it s the latest Toshiba SMART TV a Panasonic refrigerator a Super General air conditioner a Glemgas Cooker or any other top-rated appliance our clients can now buy with confidence and no financial stress said YKA Electronics and Home Appliances Division business head AC Dilip. Our showrooms are filled with a wide variety of electronics and appliances and with FLOOSS s instalment plans they re more accessible than ever. So if you re ready to upgrade your home visit YKA Electronics and Home Appliances showroom located in Manama (17211881/66396240) or Gudaibiya (17742656/66396571).

A golden partnership has switched on the kingdom to the reliability and product quality appreciated the world over as a touch of cool kaizen . For five decades Y K Almoayyed & Sons (YKA) has been a trusted distribution partner of Toshiba continuing to provide Bahrain s households with premium Japan-quality home appliances. Toshiba s refrigerator range for example stands as a testament to the brand s long standing reputation for reliability innovation and durability making it the preferred choice for families across Bahrain said a brand representative. Since its introduction to the Bahrain market more than 50 years ago Toshiba has consistently delivered high-quality home appliances that are renowned for being built to last . Through YKA the brand s exclusive distributor Toshiba refrigerators have earned the trust of households by offering advanced features that provide superior cooling efficiency energy savings and enhanced food preservation in comparison to many other brands. The concept of continuous improvement however known as kaizen is a fundamental aspect of Japanese culture. The pursuit of perfection and the desire to constantly refine and enhance processes and products are deeply embedded in the Japanese work ethic. One of the key factors that distinguish Toshiba refrigerators is its uncompromising commitment to quality and durability. Featuring cutting-edge technology such as Inverter Compressors Toshiba refrigerators not only keep food fresher for longer but also contribute to lower energy consumption helping families save on their electricity bills. Additionally the sleek modern designs ensure the items fit seamlessly into any kitchen aesthetic. Toshiba offers an industry-leading 12-year warranty on compressors providing consumers with peace of mind and long-term assurance of reliability. YKA Electronics and Home Appliances Division business head AC Dilip expressed his pride in the continued success of the Toshiba refrigerator range: Toshiba has been a household name in Bahrain for over five decades and its refrigerators continue to be the brand of choice for families who prioritise quality durability and energy efficiency he said. With our 12-year compressor warranty and superior cooling technology Toshiba remains committed to bringing the best of Japan s craftsmanship to Bahraini homes. We are proud to partner with Toshiba to offer products that deliver unmatched value and peace of mind. Toshiba s refrigerators are available in a wide range of sizes and configurations catering to the varying needs of households. Whether it is for a large family or a compact living space Toshiba s reputation for innovation quality and performance continues to make it the top choice in Bahrain s competitive home appliance market. n Shop for a Toshiba refrigerator at YKA Electronics and Home Appliances showrooms in Manama: 17211881 and Gudabiya: 17742656 as well as online at www.shop.almoayyed.com and major supermarkets and retailers.

Prospect a leading real estate developer has joined hands with Mulk Properties for the official launch of its boutique office and retail development - The LX - within Arjan community in Dubai featuring 71 office units and two curated retail spaces. The new project comes in line with its strategic move to address Dubai s growing demand for premium commercial spaces. One Broker Group (OBG) will be the exclusive sales partner for the project which was unveiled at a high-profile launch event at the Waldorf Astoria Palm Jumeirah. A landmark project being set up at an investment of AED350 million ( 95.2 million) the LX features 71 premium boutique office units and 2 curated retail spaces offering modern businesses and discerning investors a rare opportunity to own commercial assets in a location experiencing unprecedented growth. S...

The retail industry in the GCC is undergoing a sweeping transformation. Once dominated by traditional models the sector has now emerged as a key enabler of economic diversification technological innovation and consumer-centric growth according to a report by LOGIC Consulting. The sector is expanding rapidly and is projected to reach over 390 billion by 2028 driven by digital innovation changing shopper behavior and strategic government initiatives stated LOGIC in its report titled Revolutionizing Retail: Unveiling GCC s Five-Year Transformation. Retail is no longer just a transactional space in the region it is becoming a cornerstone of national development agendas fostering private investment and energizing adjacent sectors such as logistics real estate and tourism it added. The report highlights the evolution of consumer expectations across the GCC....

Saudi Arabia s retail real estate sector is undergoing a transformation driven by the country s Vision 2030 initiative economic diversification efforts and an evolving consumer landscape. The outlook for 2025-2026 remains optimistic with strong demand anticipated due to factors such as population growth increasing tourism and changing consumer preferences according to top ratings agency S&P Global. The growth path for retail real estate in Saudi Arabia is looking good for 2025-26. However the sector is also facing challenges including oversupply risks and evolving retail formats that could weigh on rental rates and real estate landlords profitability amid high capital spending said the ratings agency. Additionally lower oil prices and market volatility amid escalating global trade tensions and a fragmented...

Retail investors demonstrated strong conviction on April 3 the first full trading day following President Donald Trump s so-called Liberation Day and the announcement of new US tariffs. Instead of panic-selling many chose to buy the dip seeing the sharp sell-off as an overreaction to macroeconomic developments said Lale Akoner Market Analyst at eToro. Licensed and regulated by the Abu Dhabi Global Market eToro is a major trading and investing platform. Many saw it as a buying opportunity in quality names like Nvidia Amazon and Nike which have strong fundamentals but were dragged down in the broad risk-off move noted Akoner. Nike for example plunged due to tariff concerns on imports from Southeast Asia but long-term bulls likely saw its brand strength and market dominance as worth holding through short-term supply chain pressures she stated. eToro data reveals that on April 3: b...

Saudi-based Umm Al Qura for Development and Construction today (March 13) announced the successful completion of the offering period for retail investors for the company s initial public offering (IPO). Umm Al Qura is the owner developer and operator of Masar Destination one of the largest redevelopment projects in Makkah city. Its current majority shareholders comprise state-owned entities and Saudi private sector including the Saudi sovereign wealth fund PIF the General Organization for Social Insurance (GOSI) and Dallah Al Baraka Holding. Announcing this the Saudi developer said the retail subscription process which involved a maximum of 13 million shares (representing 10% of the total offer shares) kicked off on March 5 and ended on March 9. It saw participation from 1 048 530 subscribers indicating a coverage of 20 times with...

Roshn Group the kingdom s leading multi-asset class real estate developer powered by Saudi wealth fund PIF has announced that it has awarded new contracts worth SAR1.5 billion ( 400 million) for Sedra Community the group s largest integrated development in Riyadh. The scope of work includes construction of more than 1 900 residential units as well as infrastructure development works related to the retail facilities of Sedra said Roshn in a statement. These agreements were signed at the third edition of the PIF Private Sector Forum in Riyadh thus reflecting Roshn s strategic efforts to strengthen the kingdom s construction sector expand local expertise and enhance supply chain localization. The first agreement valued at SAR650 million was signed for development of more than 900 residential units and sports facilities at Sedra Community. ...

The UAE and KSA airport retail sales are expected to reach 161.4 billion and 139.1 billion respectively by 2028 according to Abra a leader in luxury retail fit-outs in the UAE and the Mena region. In its latest report Abra says that the GCC s airport retail sector is experiencing unprecedented expansion fuelled by increasing passenger traffic growing tourism and significant investments in airport infrastructure. Against this backdrop Abra is strategically positioned to capitalise on these opportunities and transform airport retail into iconic luxury destinations supported by its advanced solutions and unparalleled craftsmanship. It has completed over 200 projects over the last 3 years at 21 airport destinations specialising in fragrance beauty confectionery liquor and fashion categories. It navigates unique challenges such as security regulations mater...

Diriyah Company is collaborating with Apple on the planning of a future iconic store in Diriyah The City of Earth marking a significant milestone in the retail and lifestyle offering of the Diriyah project. Apple has confirmed plans to introduce several flagship retail locations across Saudi Arabia by 2026 including an iconic store in Diriyah home to the UNESCO World Heritage site At-Turaif renowned for its rich history and cultural significance as the birthplace of the Kingdom of Saudi Arabia. Jerry Inzerillo Group CEO of Diriyah Company said: This future partnership enhances Diriyah s retail landscape and aligns with our vision of fostering a vibrant economy that embraces technology and creativity while demonstrating our commitment to becoming a global destination. Saudi Arabia is making a notable impact on the retail sector and this collaboration with Apple for an iconic retail...

Diriyah Company Saudi Arabia s mixed-use developer driving the transformation of historic Diriyah into a premier global destination will present the latest developments of its flagship project - with special focus on Diriyah Square - at the upcoming MAPIC 2024 in Cannes. A world-leading retail summit MAPIC will be held from November 26 to 28 in the French city. Diriyah Company said its participation at MAPIC features a series of high-level engagements underscoring the company s commitment to shaping the future of retail and urban development. The Saudi developer will put spotlight on Diriyah Square - the dynamic centrepiece of the 14-sq km masterplan. Designed to be the vibrant heart of Diriyah it is poised to become a landmark destination for shopping dining culture and lifestyle stated the c...

Lulu Retail the largest and fastest growing pan GCC full line retailer has seen its net profit from continuing operations soar 126% to 35.1 million driven by improved operating profit and better cost management. For the nine-month (9M) period net profit from continuing operations improved by 73.3% to 151.5 million. Lulu Retail delivered robust revenue growth in Q3 2024 reaching 1.86 billion up 6.1% YoY. The strong sales performance was driven by significant growth in key markets including UAE Saudi Arabia and Kuwait with sales growth across key product categories including double-digit growth in Fresh Food and mid to high single-digit improvement in Electrical Goods. Like-for-like (LFL) sales in Q3 2024 increased by 1.2% to 1.7 billion while LFL sales for 9M 2024 increased by 2.2% to 5.3 billion. Strong revenue growth /spa...

A staggering 51% of luxury retail employees plan to leave their jobs amid a talent crisis gripping the industry said a landmark report titled The Advisor Effect: Driving Retail Success by Re-imagining the Role of the Client Advisor . Unveiled by CXG a leading consulting and solutions firm dedicated to enhancing luxury brand performance through innovative customer and employee experience strategies the study said this marks a notable increase from 30% just two years prior. The report focuses on developing strategies for recruitment onboarding training and retention. It is based on insights gathered from over 100 000 customer experience evaluations for luxury brands worldwide 12 000 surveys conducted with retail employees from 12 luxury brands between 2022 and 2024 and 27 in-depth interviews with senior professionals across the fashion jewellery and beauty sectors in Europe the US and China....

Lulu Retail Holdings the largest and fastest growing pan-GCC full-line retailer has started trading on the Abu Dhabi Securities Exchange (ADX) after its record-breaking Initial Public Offering (IPO). Lulu s IPO raised gross proceeds of AED6.32 billion ( 1.72 billion) making it the largest offering in the UAE in 2024 to date. The offering saw aggregate demand of over AED135 billion from local regional and international investors a record for a non-Government UAE IPO over the past 10 years and an oversubscription level of more than 25 times across all tranches (excluding Cornerstone Investors). Cornerstone investors included leading sovereign and institutional investors from across the GCC. A record 82 000 retail investors subscribed for shares in the IPO demonstrating consumers awareness and connection with the Lulu brand across the GCC with around 50 000 individuals registering for an ADX Nation...

Cenomi Retail Saudi Arabia s pioneering retail brand partner has made a significant turnaround in the third quarter (Q3) posting a net profit of SR19 million ( 5.06 million) compared to a huge net loss of SR203 million in Q3 2023. For the first nine months (9M) of 2024 Ceneomi made a net loss of SR48 million compared to a loss of SR89 million in 9M-23. However the company achieved solid margins with gross margin improving to 10.6% from 7.5% in Q3-23. This was supported by wide-ranging cost rationalisation initiatives and continued progress on the brands divestment programme announced earlier this year in addition to the growth of Tier 1 Champion brands in the portfolio. Sale of non-core brands During the quarter an additional 5 non-core brands: Charles & Keith Estee Lauder Nine West Pedro a...

Lulu Retail Holdings the largest and fastest growing pan-GCC full-line retailer today announced the successful completion of the bookbuild and public subscription process for its initial public offering (IPO) on the Abu Dhabi Securities Exchange (ADX). The offering was over 25 times oversubscribed with orders of more than AED135 billion ( 37 billion) received across all tranches (excluding Cornerstone Investors). Lulu Retail confirmed that the final offer price for its ordinary shares has been set at AED2.04 per share pricing at the top of the previously announced offer price range and implying a market capitalisation of the group at listing of AED21.07 billion ( 5.74 billion). The offering raised gross proceeds of AED6.32 billion ( 1.72 billion) making it the largest UAE IPO of 2024 to date. The IPO received exceptional retail investor in...

Lulu Retail Holdings the largest and fastest growing pan-GCC full-line retailer and a public company limited by shares incorporated in the Abu Dhabi Global Market (ADGM) today announced an increase in the size of its initial public offering (IPO) on the Abu Dhabi Securities Exchange (ADX). The total Offering size has been increased to 3 098 671 605 ordinary shares from the previously announced 2 582 226 338 ordinary shares. The offering size now represents 30% (previously 25%) of the total issued shares in the company which are to be sold by the company s sole shareholder Lulu International Holdings Limited (the selling shareholder). The additional 516 445 267 offer shares have been wholly allocated to the Qualified Investor Offering (Tranche Two) accessible to Professional Investors only as defined in the local prospectus. The offer price range is unchanged at be...

Lulu Retail Holdings the largest and fastest growing pan-GCC full-line retailer and a public company limited by shares incorporated in the Abu Dhabi Global Market (ADGM) today announced its intention to proceed with an Initial Public Offering (IPO) and to list its shares for trading on the Abu Dhabi Securities Exchange (ADX). KEY HIGHLIGHTS OF THE OFFERING A total of 2.582 billion ordinary shares each with a nominal value of 0.014 (which is equivalent to AED0.051) representing 25% of the total issued shares in the company are to be sold by the company s sole shareholder Lulu International Holdings Limited. The offering will be made available to UAE retail investors including eligible employees of the group as part of the UAE Retail Offering; to professional investors as part of the Qualified Investor Offering; and to eligible senior executives of the group as part of the Senior Ex...

Alandalus Property has started work on a major commercial development in Makkah being developed at a total investment of SAR831 million ( 221.4 million) in the Umm Jurfan neighbourhood of the Saudi city. On completion the project will boast 350 rental units including major showrooms retail outlets a hypermarket an entertainment zone as well as indoor and outdoor café and restaurant said Alandalus Property in its filing to the Saudi bourse Tadawul. Spanning a 127 434 sq m area the key commercial property comprises two floors and multi-level parking facilities for 1 800 cars it added. The land was purchased by Alandalus Property through the company Masat Property which the company s owns 25% of its capital while Buroj International Company owns the rest 75% stake. The Board of Directors of Masat Property ...

Average rental rates across Riyadh s retail market have risen by 3% to SR2 725 ( 727) psm for both regional and super regional malls in the last 12 months while occupancy rates across the retail market rose by 5 percentage points to 90%. According to global property consultancy Knight Frank s Summer 2024 Saudi Arabia Retail Market Overview the total existing retail supply in Riyadh stands at 3.6 million sq m with around 27 050 sq m of retail space entering the market in Q1 2024. Knight Frank forecasts that the capital s retail stock will grow by 28% to 4.6 million sq m by 2026. In contrast to the capital Jeddah and the Dammam Metropolitan Area (DMA) have experienced subdued retail market growth in the last 12 months with occupancy rates dropping by 1 percentage point in both cities to 84% and 89% respectively says Knight Frank. Lease rates have responded with average rents in Jeddah dropp...

Retail media advertising spend is forecast to reach 153.3 billion worldwide in 2024 according to WARC s latest analysis. The continued growth is fuelled by advances in off-site targeting as commerce data infuses into non-retail environments. All the while Amazon continues to tighten its grip on the retail media market. WARC Digital Commerce has published its annual report looking at the trends having an outsized impact on the future of this dynamic and hyper-competitive space. Gregory Grudzinski Reports Editor WARC Digital Commerce and author of the study says: Following the explosion of digital commerce onto the advertising landscape this report looks at trends in four areas that are having a profound impact on the future of this fast-growing and complex space to provide an overarching view of what the future holds and what marketers need to do today to prepare for it. /div...

Standard Chartered is among the first few institutions to offer locally domiciled funds for retail clients in the UAE in partnership with international providers. This is in line with the new Securities and Commodities Authority (SCA) regulation which restricts the promotion of foreign funds to professional investors. Standard Chartered has partnered with leading international companies to provide best-in-class products to its retail clients including Amundi a global asset manager with over 2 trillion in assets under management; Aditum Investment Management Limited an asset manager licensed by the Dubai Financial Services Authority with over 6 billion in assets; and ClearStream a leading global company specialising in custody and settlement of securities. The new offering underlines Standard Chartered s commitment to supporting the SCA in driving the growth of the local asset management sec...

Al Habtoor Group in a major expansion of its business portfolio unveiled further details of its anticipated television channel set to broadcast from Beirut Lebanon. Promising to offer extensive job opportunities and serve as a beacon of positivity in the media landscape the channel is poised to initially create about 300 jobs in fields including journalism production art and more with additional jobs expected to be added as the project expands. Khalaf Ahmad Al Habtoor Founding Chairman of Al Habtoor Group said: The resilience and spirit of the Lebanese are truly inspiring. We aim to harness this energy to spread hope happiness and positivity through our new channel. Our commitment is not only to establish a channel but also to foster a thriving media environment for professionals. More than broadcasting ...

Spinneys 1961 Holding an operator of premium grocery retail supermarkets has announced that following high levels of demand it will increase the number of shares allocated to the UAE Retail Offering of its 375 million IPO. The public offering to subscribers in the First Tranche has been increased from 45 million shares to 63 million shares equivalent to 7% of the total offer shares (previously 5% of the offer shares). The decision to increase the allocation size of the UAE Retail Offering is based on significant investor demand from the First Tranche subscribers. Total size unchanged The total size of the offering remains unchanged at 900 million shares representing 25% of total issued share capital of the company. To accommodate the increased allocation of the UAE Retail Offeri...

Generative AI (GenAI) and other AI tools will transform retail over the next 12 months according to Retail Reimagined: Creating luxury customer experiences using data-driven insights a new report launched by Deloitte Global. With 52% of retailers intending to employ GenAI within the next 12 months for content creation in publications and reports and 25% aiming to utilise it for brand campaigns and marketing it s a growing trend among those seeking to maintain consumer loyalty particularly in the luxury sector. The research to be unveiled at this year s World Retail Congress taking place in Paris from April 16 to 18 highlights how brands are increasingly adopting personalised recommendations and targeted advertising to analyse consumer behaviour and preferences in real-time. Digitalisation surge...

Al Haramain Group a leading UAE manufacturer and retailer of fragrances has expanded its retail network to 120 stores spread over more than ten countries as its UAE-made products get exported to more than 70 countries. Al Haramain Perfumes the Group s flagship company is a pioneer in manufacturing Oudh Agarwood Bakhoor Dehnal Oudh and oriental perfumes having one of the biggest market shares in these categories. The UAE perfume market size reached 614.3 million in 2022. It is expected to reach 1.15 billion by 2028 exhibiting a growth rate (CAGR) of 11.88% during 2023-2028 according to Markets and Research. The GCC fine fragrances market size on the other hand is expected to grow at a Compound Annual Growth Rate (CAGR) of 4.5% to 19 billion by 2032 from 12.4 billion in 2022 according to a report by Market 24X7. stro...

The outstanding total loans and credit facilities extended to resident economic sectors by retail banks in Bahrain increased to BD11.8 billion ( 31.36 billion) at the end of 2023 an increase of 4.3% compared to the end of 2022. The Business Sector accounted for 42.6% and the Personal Sector 49.5% of the total loans and credit facilities according to key banking indicators presented by the Central Bank of Bahrain (CBB). The CBB Board of Directors held its second meeting for the year 2024 chaired by Hassan Khalifa Al Jalahma on Sunday and approved the CBB s annual report and key economic developments for the year 2023 in addition to the CBB s audited financial statements for the year 2023. Total private deposits increased to BD14.2 billion at the end of 2023 an increase of 5% compared to the end of 2022. The balance sheet of th...

Khalifa Economic Zones Abu Dhabi Kezad Group has announced two land lease agreements with Sam Force Trading to create vibrant retail community centres. Under the agreements Sam Force will construct and operate community retail centres on two prime locations in Kezad which will cater to the diverse needs of residents and businesses within the Kezad community. The centres in Khalifa Industrial Area (Kezad Al Ma mourah) and ICAD (Kezad Musaffah) will encompass a diverse commercial and retail offering including restaurants and cafes supermarkets and business centres enriching the community s lifestyle and core amenity availability. Seamless integration Fatima Al Hammadi Chief Commercial Officer Kezad Group said: Our agreements with Sam Force reflect our strategic vision to partner with e...

Bloomberg Television has announced that Joumanna Bercetche will be the new anchor of its flagship morning prime time show - Daybreak Middle East and Africa - starting from April. Based in Dubai Bercetche will be alongside anchoring broadening its coverage across the region leading in-depth reporting on marquee events and interviewing key policymakers leaders and executives shaping the region s future. Daybreak Middle East and Africa broadcasts (at 8am UAE) from Monday to Friday bridging the Asian and European editions of the prime time morning show Daybreak. The programme provides audiences with a daily spotlight on one of the world s fastest-growing regions with the latest global markets and analysis plus news-making interviews with a special focus on MEA. On her new role Bercetche said: I am delighted to be joini...

Emaar Properties a prime real estate development company has announced that it has completed the detailed design of Dubai Square - a futuristic fusion of cutting-edge retail entertainment and technology within the ultra-modern and elegant urban project Dubai Creek Harbour. Located on the historic Dubai Creek its design features pedestrian-friendly streets and encompasses 7.4 million sq m of residential space and 500 000 sq m of gardens and open areas. Dubai Creek is an integrated project facilitating easy on-foot accessibility and is distinguished by a variety of retail stores commercial ventures entertainment and leisure destinations and top-tier facilities. The project also includes the Ras Al Khor Wildlife Sanctuary a prominent biodiversity site in the UAE. According to Emaar Dubai Square is characterized by its advanced technologies and contemporary and innova...

Middle East Pharmaceutical Industries Company s (Avalon Pharma) initial public offering (IPO) has netted SR2.67 billion ( 712.1 million) in retail subscription indicating an oversubscription of 54.3 times. The IPO witnessed a number of 284 739 applications by primary subscribers for a number of 807 467 investors (primary subscribers and dependents). The retail subscription process comprising a maximum of 600 000 shares representing 10% of the total offering shares commenced on January 30 2024 and ended on February 1 2024. Primary subscribers will receive a minimum of (2) shares each while the remaining shares will be allocated on a pro-rata basis for the remaining demand with an average allocation factor of around 0.095% for each application from their subscribed shares. Market capitalisation /strong...

Nutanix a leader in hybrid multicloud computing has said that Enoc Group a leading global energy player has centralised its IT infrastructure on Nutanix for retail expansion and deliver slick digitally-driven customer experience. Serving thousands of customers across 60 markets Enoc employs a workforce of over 12 000 employees and deploys its world-class customer service innovations and technologies and best practices towards the UAE s social and economic development. At the core of Enoc s business are its service stations which offer not only refuelling but also top-quality retail services. Initially siloed IT infrastructure was deployed at each of these service stations to deliver the digital services needed. While in the early days this met the company s needs the lack of redundancy and centralised management contributed to significant IT overheads and risk as the company rapidly scaled i...

Footwear and leather goods exporters have said that the Middle East and North Africa (Mena) offers a robust growth opportunity for the trade with retail spending power seen surging in the range of 6-8% CAGR across the region. Speaking at a press conference on the opening day of the region s largest footwear and leather goods show DIFLEX 2023- senior officials representing some of the global leather hubs Egypt India and Turkey - said the growth potential of Mena is amplified in the light of the data by Statista that non-food retail sales in the GCC alone is estimated to reach over 150 billion by 2026. Mena markets offer sunrise opportunities to leather producers and manufacturers with a rising population 55% under the age of 30 - offering a significant demographic dividend to both domestic and export businesses. Coupled with this is the increasing e-commerce spends and new fin...

Dubai Taxi Company (DTC) has announced a 2% increase in the number of shares offered in the UAE Retail Offer of its initial public offering (IPO) in response to significant oversubscription of the UAE Retail Offer. Following the approval of the Securities and Exchange Authority (SCA) the UAE Retail Offer has been increased to 74 970 000 ordinary shares from 62 475 000 ordinary shares. Based on the previously announced price range of AED1.80 ( 0.49) and AED1.85 per share the size of the Retail Tranche will now be between AED135 million and AED139 million representing a total of 12% of the Offer Shares compared to 10% previously announced. The Offering size remains unchanged at 624 750 000 ordinary shares which represents 24.99% of the company s total issued share capital. Following the increased allocation to the UAE Retail Offer the Qualified Investor Tranche will be allocated 549 780 000 ordinary shar...

Dubai Taxi Company (DTC) today (November 28) announced an increase in the number of shares offered in the UAE retail offer of its IPO owing to significant oversubscription. Following the approval of the Securities and Exchange Authority (SCA) the UAE Retail Offer has been increased from 62.4 million to 74.9 million ordinary shares. Based on the previously announced price range of AED1.8 and AED1.85 per share the size of the Retail Tranche will now be between approx. AED135 million and AED139 million representing a total of 12% of the offer shares compared to 10% previously announced. According to DTC the offering size remains unchanged at 624.7 million ordinary shares which represents 24.99% of the company s total issued share capital. Following the increased allocation to the UAE Retail ...

Some 40 billion of retail investor capital can be mobilised towards climate investments in the UAE by 2030 says Standard Chartered s latest Sustainable Banking Report. The research based on investor interest from a survey of 1 800 respondents in 10 growth markets across Asia Africa and the Middle East identifies a global potential of 3.4 trillion for climate investing highlighting the power of individuals to combat climate change. Within climate investing in the UAE 23 billion could flow into mitigation themes energy storage energy efficiency and renewables are set to attract the most capital. 17 billion could be mobilised towards adaptation including resilient infrastructure food systems and the blue economy. 93pc interested in climate investing The survey shows 93% of ...

Eagle Hills Diyar (EHD) the pioneering developer behind the Marassi Al Bahrain project has announced that its prime development - Marassi Galleria - will open its doors in February next year. A 114 000 sqm exclusive beachside retail destination within the Marassi Al Bahrain development it will boast 415 retailers including some of the world s most iconic brands and luxury boutiques. Marassi Galleria is the region s first beachside shopping mall concept and the only mall in Bahrain where visitors can shop dine and easily access the beach. The mall will also accommodate numerous entertainment venues completely unique to the kingdom. The mall features an entertainment area which includes the kingdom s largest indoor aquarium and underwater zoo an adventure park and a premium cinema complex inclusive of an IMAX screen. Marassi Galleria is...

UAE-based real estate developer Imkan has announced the launch of retail and commercial leasing at its Pixel Plaza a lifestyle destination for creators and innovators in the heart of Makers District Abu Dhabi. Offering 12 000 square meters of unique retail space the plaza is located within the Pixel residential development which blends contemporary design with comfort and convenience. Strategically located Pixel Plaza is the first mixed-use residential development and the most vibrant community within Makers District on Al Reem Island. Pixel comprises seven towers and 525 residential units offering a future-forward living experience to its creative-led residents. The residential towers are strategically situated around Pixel Plaza an iconic pedestrianised square that serves as the heart of the community said the developer. ...

Shopping is a universal pleasure a pastime that transcends borders and cultures but what if we consider that it s not merely about acquiring goods? In the grand tapestry of the global economy retail tourism is a thread that we cannot afford to overlook. In 2019 it contributed 6 per cent to the travel and tourism sector and in some nations it accounted for over 15 per cent of the sector s GDP. However both the travel and retail industries suffered severe blows during the Covid-19 pandemic. As we emerge from this challenging period we must recognize retail tourism as a powerful engine for economic recovery. The pandemic has instilled in consumers a desire for extraordinary personalised experiences. It s a mindset cultivated through resilience I endured and I deserve. This mindset can propel retail tourism to new heights yielding benefits not only for shopper...

Amazon Payment Services a regional leader in digital payments operating across the Middle East and North Africa (Mena) region has been granted a Retail Payment Services licence by the UAE Central Bank. Marking a significant milestone for the business this licence enables Amazon Payment Services to unlock an enhanced offering for its merchants across the country through unique products and services directly improving the experience for their customers. Obtaining the licence reinforces Amazon Payment Services position as a trusted payment service provider in the UAE where the company facilitates payment processing for hundreds of merchants including Small to Medium-sized Businesses (SMBs). Operational efficiency This licence enables Amazon Payment Services to invest in operational ...

Saudi PIF-backed ADES Holding Company a leading oil and gas drilling and production services provider in the region said its 1.2 billion IPO was oversubscribed 9.8 times by retail investors with over 1.31 million participating. The retail subscription process comprising a maximum of 33 871 875 shares representing 10% of the total Offer Shares had commenced on September 26 and ended at 2pm on September 28. It witnessed participation of 1 307 676 subscribers indicating a coverage of 9.83 times with a total demand of SR4.5 billion ( 1.2 billion). Pro-rata basis Individual Subscribers will receive a minimum of 10 shares each while the remaining shares will be allocated on a pro-rata basis for the remaining demand with an average allocation factor of 6.4951%. ...

DFS Group the world s leading luxury travel retailer has announced plans to open the first world-class seven-star luxury retail and entertainment destination DFS Yalong Bay in Sanya Hainan China by 2026. DFS is forecasting an unprecedented investment into a 128 000 sq m site attracting over 1 000 luxury brands including iconic maisons from the LVMH Group once fully operational. DFS Yalong Bay will become Sanya s premier destination for luxury shopping world-class accommodation dining and entertainment serving international and domestic tourists with innovative renowned luxury brands and experiences. DFS Yalong Bay is an incredibly exciting development for DFS and I believe for the Chinese travel industry said Benjamin Vuchot DFS Chairman and CEO in Cannes. Think the glamour and experience of Shanghai Macau Dubai and Las Vegas: now add Sanya to these dream destina...

Al Salam Bank has announced the launch of the second edition of its Retail Academy at the Knowledge Centre located at the bank s headquarters. The academy is designed to equip employees with the essential skills and knowledge required to deliver exceptional client service across all facets of retail banking. Over the course of five months Al Salam Bank will partner with the Bahrain Institute of Banking and Finance (BIBF) as well as Asas Training and Roaa for Training & Consulting to conduct a comprehensive series of training sessions encompassing a wide spectrum of topics pertinent to retail banking and personal skills development. Training modules These training modules cover identifying the features of banking services and products evaluating their alignment with individual client nee...

Retail tourism is not just about shopping it s about revenue job creation and influencing travellers choices says a new report. The report Global Retail Tourism: Trends and Insights a collaborative effort between the World Travel & Tourism Council (WTTC) The Bicester Collection and Hong Kong Polytechnic University was launched at a thought leadership event exploring the significant untapped potential of retail tourism. Julia Simpson WTTC President & CEO said: In the world of Travel & Tourism retail tourism s significance cannot be overstated. Accounting for over 178 billion of global GDP in 2019 it s time to recognise its true potential. The event took place at La Roca Village part of The Bicester Collection in Barcelona on Friday concluding with a resounding call for attention to the importance of...

Leading UAE developer Damac Group has announced the opening of its new retail and leisure destination - Damac Mall - in Dubai. The Damac Mall presents an expansive 110 000-sq-ft space that seamlessly integrates retail hospitality leisure and entertainment offerings. It is envisioned as a hub for unique shopping experiences. Located within Damac Hills it features major international and local brands across various categories including 30 retail stores and 10 F&B outlets. With its unique retail mix across diverse categories that meet the requirements of a community mall Damac Mall expects an annual footfall of around 1.3 million visitors. In addition to the spacious interiors the mall has a large parking area capable of accommodating 360 vehicles. Damac Mall is part of our growing presence in the retail sector. It un...

Qatar Investment Authority (QIA) has announced today (August 23) an investment of 8 278 crore ( 1 billion) into Reliance Retail Ventures Limited (RRVL) a subsidiary of Indian business conglomerate Reliance Industries Limited (Reliance Industries). QIA s investment will translate into a minority equity stake of 0.99% in RRVL on a fully-diluted basis said the company in a statement. RRVL through its subsidiaries and associates operates India s largest fastest growing and most profitable retail business with a network of over 18 500 stores and digital commerce platforms across grocery consumer electronics fashion & lifestyle and pharma. QIA pointed out that the investment in Reliance Retail was a demonstration of its diversified approach to global investment and confidence in India s fast-growing economy. ...

Saudi Arabia has signed an agreement with MBC Group to launch a new satellite television channel dedicated to the richness of Saudi culture. It will boast contents on arts literature history and heritage poetry film and theatre design fashion dining and hospitality. Launching next month the channel is set to broadcast a diverse range of programming focused on the kingdom s rich history in addition to current events and offerings. This comes in line with the cultural objectives of Saudi Vision 2030 cementing the Kingdom s position as a regional hub for culture. The partnership agreement was signed by Prince Badr bin Abdullah bin Farhan Al Saud Minister of Culture for the Kingdom of Saudi Arabia and Waleed bin Ibrahim Al Ibrahim the Chairman of MBC Group. Airing on MBC TV satellite network as well as its streaming platf...

Advertising spend on Connected TV (CTV) is increasing as viewers and advertisers migrate from linear broadcast television according to a new study. However while CTV is keeping overall television spend stable it is not yet attracting new dollars to the platform. As a result CTV growth is three times slower than retail media at the same point in its development says WARC Media s latest Global Advertising Trends report. Additionally the sell side of the market is fragmenting into smaller operators as linear TV spend declines (particularly in the US) transforming the economics of the TV market. The report Connected TV s next episode examines advertising investment and consumption patterns of CTV defined as streamed video viewed on a smart TV or a TV connected to the internet. Co-author of ...

Aldar Properties (Aldar) has announced an AED500 million ( 136 million) investment plan to redevelop two of its key retail portfolio assets in the UAE: Al Jimi Mall in Al Ain and Al Hamra Mall in Ras Al Khaimah. This investment will take Aldar s committed spend on redeveloping key retail assets to AED1 billion ( 272.2 million). The company has approved a redevelopment plan for Al Jimi Mall to enhance the customer journey and reinforce its position as the mall of choice for residents and visitors in Al Ain. The plan aims to increase the Gross Leasable Area (GLA) by 20 percent to 91 000 sqm and introduce new anchor retailers premium international brands and popular food concepts. The mall will remain open to customers with the project expected to be fully completed by Q1 2025. Following a successful acquisition of Al Hamra Mall in Febru...

Batelco part of the Beyon Group has revamped all of its retail shops adding a self-service digital zone designed to elevate the customer retail experience. This step is in line with Batelco s on-going digital transformation of its customer journey in multiple touchpoints such as the website the Batelco app as well as the retail shops. Batelco s new shops enable customers to complete majority of transactions through a simple digital journey. Today Batelco customers can find advanced self-service kiosks that incorporate a wide range of functions including the ability to instantly register and activate a new Postpaid or Prepaid line and receive a new SIM card as well as subscribe to Home Fibre Broadband services with just a few easy steps. Package upgrades Customers can also complete pack...

Retail fashion sales in Saudi Arabia are expected to surge 48% to 32 billion from 2021 to 2025 representing an annual growth rate of 13% and luxury retail posting a 19% growth according to a new report unveiled at Paris Fashion Week. This growth is expected to be fuelled by the kingdom s economic expansion and growing population with apparel accessories footwear and luxury goods poised for significant gains. Saudi Arabia s fashion industry holds the largest projected growth rates of any other large high-income market the report said. Sector opportunity A first of its kind focusing on the Saudi Fashion ecosystem The State of Fashion in the kingdom of Saudi Arabia clearly outlines the scale of the sector s opportunity. ...

Khalifa Fund for Enterprise Development (KFED) announced its partnership with Bahrain-based Hope Ventures to expand Hope s entrepreneurship-themed reality television show Beban to the United Arab Emirates in its highly anticipated third season. This follows the show s established expansion to the UAE for season two and its success in facilitating investment and strategic opportunities for UAE-based businesses. Having aired for two seasons Beban featured a total of 62 businesses of various sizes and resulted in successful co-investments by the private and public sectors exceeding US 6 million in GCC-based startups. Beban is centered around entrepreneurs and business owners as they pitch their businesses before a panel of regional investors for equity investment and business opportunities. The show s expansio...

Pangaia a global innovative materials science company has collaborated with Lagardere Travel Retail and Dubai Airports as strategic partners to enter travel retail with its first outpost at Dubai International Airport (DXB). Pangaia is located in Concourse B Terminal 3 and occupies a footprint of 182 sqm. The entrance is a bespoke large digital fascia that displays a sneak peek into Pangaia s ethos and serves as a platform to introduce passengers to the brand s Earth-positive mission. Upon entering the space offers a unique immersion into nature starting from the custom-built terrarium as a central feature to the natural soundscape and the invigorating scent in the fitting rooms to emulate the experience of being immersed in a forest. Echoing the brand s purpose the Pangaia store has been mindfully designed around locally sourced finishes natural materials and energy-efficient LED lighting throughout. str...

The National Bank of Bahrain (NBB) has been named as the Best Retail Bank in Bahrain 2023 maintaining this position for the second consecutive year. The bank s Loyalty & Rewards application Points by NBB has won the title of Best App for Customer Experience in Mena 2023 at the Mena Banking Excellence Awards organised by MEED (Middle East Economic Digest). NBB is Bahrain s leading financial institution and the award is a recognition of the bank s highly innovative and customer centric products services and digital platforms. Digitally advanced As a digitally advanced and data-driven organisation NBB continues to deliver tailor-made products and services to meet the day-to-day banking needs of its growing customer base. Points ...

Bahrain Islamic Bank (BisB) the leading provider of Islamic digital banking services in Bahrain has announced the appointment of Fatema AlAlawi as Chief of Retail Banking. This comes as part of the bank s efforts to recruit efficient Bahraini talents and empower Bahraini women to assume key positions with the aim of continuously establishing a professional and distinguished management team. Throughout her career AlAlawi has contributed to digital banking transformation and the Islamic banking sector in Bahrain where she has played an essential role in leading all aspects of private and retail banking including product development business marketing and branches. She delved in FinTech where she has helped launch Islamic banking platforms and Aion Digital. Proven track record Yaser Alsharifi Chief ...

The 42 billion global CPaaS (Communications Platform-as-a-Service) market will be dominated by Retail & eCommerce (28%) Banking & Finance (13%) and Travel & Tourism (10%) in the next four years says Juniper Research. The new report CPaaS: Strategies Opportunities & Market Forecasts 2023-2027 provides the most complete assessment available on the CPaaS market; identifying the key vendors market trends and strategies that will shape the industry going forward. Retail dominance Juniper Research predicts that the biggest CPaaS sector Retail will account for up to 10 billion for CPaaS vendors globally by 2027; a substantial increase of 135% over 2023 when 4.3 billion will be generated. This growth will be largely driven by the integration of new channels into CPaaS platforms. These will enable online retailers to leverage ri...

Explora Journeys has announced that its Explora I cruise ship will offer a truly distinctive retail experience called The Journey. Inspired by the Ocean State of Mind and influenced by the destinations the ship will visit The Journey redefines the shopping experience at sea it said. More than just a place to browse and buy it is a journey of discovery consciousness and craftsmanship with provenance. These qualities are reflected in a stunning collection of more than 30 of the finest artisanal brands. What they all share is a commitment to caring for the planet and its people. Each and every item selected for The Journey is a celebration of creativity passion and the power of discovery each with its own magical story to tell. The offering will include items exclusively designed for Explora Journeys and only available onboard Explora I. &n...

Al Ansari Financial Services said that that following the approval from the Securities and Exchange Authority (SCA) Al Ansari Holding has increased the number of shares offering in the UAE retail offer of the Group s initial public offering (IPO). The offering has been to 56 250 000 ordinary shares from 37 500 000 in response to very strong demand from retail investors and elevated oversubscription of the UAE Retail Offer. A total of 750 000 000 (seven hundred and fifty million) shares equivalent to 10% of the Group s issued share capital are on offer. Subsequently given the decision by the Selling Shareholder to increase the allotment to the Retail Investor Tranche the Qualified Investor Tranche will be allotted 693 750 000 ordinary shares instead of 712 500 000 ordinary shares. Based on the previously announced price range of AED1.00 ( 0.272) to AED1.03 per share the size of the retail tranche will now be between AE...

Al Ansari Financial Services has announced that following the approval from the Securities and Exchange Authority (SCA) Al Ansari Holding (selling shareholder) has exercised its right to increase the number of shares offering in the UAE Retail Offer of the Group s Initial Public Offering to 56 250 000 ordinary shares from 37 500 000 ordinary shares. The company pointed out that the increase was in response to very strong demand from retail investors and elevated oversubscription of the UAE Retail Offer. A total of 750 000 000 shares equivalent to 10% of the group s issued share capital are on offer. Subsequently given the decision by the selling shareholder to increase the allotment to the Retail Investor Tranche the Qualified Investor Tranche will be allotted 693 750 000 ordinary shares instead of 712 500 000 ordinary shares. Based on the previously announced pri...

Al Aan TV has announced the launch of its new show Ana Mawjoud which offers a significant platform for young people to share their stories experiences and aspirations for a better future. The show believes in the youth s vital role as today s pillars and tomorrow s creators in line with Al Aan TV s slogan The story belongs to everyone . Hosted by media personality Maha Fattoum the new show focuses on capturing the fighting spirit and perseverance among young men and women who choose to remain in their home countries - starting with Iraq a country which is witnessing major hardships security political and social challenges. Primary drivers Ana Mawjoud aims to inspire youth in Arab countries especially in Iraq to remain hopeful and continue pushing forwa...

The Sharjah Retail Group of the Sharjah Cooperative Society and the Sharjah Foundation to Support Pioneering Entrepreneurs (Ruwad) of the Sharjah Economic Development Department have signed an agreement to work together to better serve entrepreneurs business owners and SMEs in the Emirate of Sharjah reported Wam. Hamad Ali Abdullah Al Mahmoud Director of Ruwad and Abdullah Issa Al Huraimel General Manager of the Sharjah Retail Group signed the agreement in the presence of executives from both sides. Al Mahmoud emphasised the importance of inter-agency collaboration in bolstering the economic and sustainable development of Sharjah and the UAE as a whole and in enabling Emiratis to launch and grow businesses that diversify local service offerings and bolster national competitiveness. The Sharjah Retail Group offers a diverse package of incentives services and facilities to ...

Huawei is collaborating with stc tv its regional partner to bring users across the Middle East and North Africa an enhanced innovative digital entertainment experience. The agreement will see stc tv and Huawei collaborate in the digital entertainment field and roll out new bundles and offerings. stc tv is a streaming service that aggregates and curates the top regional and global content for audiences across Mena. With an abundance of content and flurry of OTT platforms available in the market it s becoming increasingly difficult for consumers to navigate discover and engage with the content they like. stc tv solves that paint point through a world-class digital streaming experience that offers the best movies TV shows documentaries kids programs and more from top partners including STARZPLAY discovery Wide Khaliji Cartoon Network Boomerang & more. ...

Beban Bahrain s first entrepreneurship-themed reality television show produced by Hope Ventures said its highly anticipated second season is powered by The Oil and Gas Holding Company (closed) (nogaholding). Beban to be aired in January 2023 revolves around entrepreneurs pitching their businesses before a panel of regional investors for investment and strategic business development opportunities. The show aims to shed light on success stories and facilitate the co-investment of high-potential businesses alongside the private sector to strategically accelerate their business growth to regional and international markets. Season 1 resulted in a commitment of five deals worth over 1 000 000 in total and 120 000 worth of advance orders. Bigger and louder Season 2 will be bigger louder and...

UAE homegrown retail conglomerate Sharaf Retail significantly expands its presence in the lifestyle market across Middle East and Far East with 23 planned store launches in 2023. This is in addition to three new openings of its flagship brands - Forever 21 Cotton On and BODY at UAE s retail and leisure destination Silicon Central mall. The new stores are spread across a combined area of 23 188 sq ft of shopping space that mirrors the group s expansion strategy across the region. The newly opened Forever 21 and Cotton On stores offer fast fashion at affordable pricing and BODY presents vibrant active and lounge wear for women with a wide mix of apparel offerings for mall visitors. The launch and collection of these flagship brands from the group were unveiled through an immersive experience of three different events embodying the brand s ethos. Forever21 was showcased through a vi...

Japanese sports brand ASICS and leading regional conglomerate Apparel Group have partnered to launch ASICS retail stores in Qatar UAE Saudi Arabia Oman and Bahrain. Signifying the brand s commitment to the region the franchise contract encompasses the rollout of 20 stores within the next five years and kick started with the official opening of ASICS store in Qatar on December 5. Located in Doha Festival City Mall the first ASICS retail concept in Qatar features 165 sq m of space showcasing running tennis padel volleyball and kids collections. Customers can find in store the new GEL-KAYANO 29 - the running shoe that is arguably ASICS most iconic model and that has now been improved even further through advanced technologies as well as NOVABLAST 3 shoe - the third generation of ASICS unique cushioning running shoe that offers a bouncing running experience and combines Japan...

City Centre Bahrain the premier shopping entertainment and lifestyle destination in the kingdom has won three prestigious awards at the region s largest retail and shopping centre event the Retail Congress Mena 2022 said its developer Majid Al Futtaim. A leading retail and leisure pioneer across the Middle East Africa and Asia Majid Al Futtaim owns and operates 29 shopping malls (including City Centre malls) 13 hotels and four mixed-use communities. The three awards were presented for City Centre Bahrain s Bahrain National Day campaign Love for your country is the motive the Ramadan campaign Smiles for Ramadan and the Summer campaign Summer Vibes! The top honours were for City Centre Bahrain s engaging interactive and successful campaigns that brought together the local community inspired others and spr...

DHL Express a leading global express and logistics provider has marked a breakthrough in retail automation in the Courier Express & Parcel (CEP) industry with the launch of its first digital service point in the UAE. Located at the Dubai Digital Park (DDP) in Dubai Silicon Oasis (DSO) the integrated free zone technology park and member of the Dubai Integrated Economic Zones Authority (DIEZ) this fully automated service point is the first in the Middle East region and across DHL s global network. It is an unparalleled innovation in the industry that is reflective of DHL s market leading position in UAE and initiates an era of digitalizing customer experience in logistics. Launch event The launch event was hosted by DHL Express in collaboration with Dubai Silicon Oasis (DSO) at DSO s owned DDP Dubai s first in...

Americana Restaurants International has announced that it has increased the UAE Retail Offer for its initial public offering (IPO) from 5% to 10% of the total offering so that it becomes equal to the size of the KSA Retail Offer. The KSA Retail Offer remains unchanged at 10% of the total offering however the institutional offer has got reduced from 85% to 80% of the total offering. The adjustment to the offering structure has been made after obtaining the necessary regulatory approvals from the Securities & Commodities Authority (SCA) in the UAE and Capital Market Authority (CMA) in Saudi Arabia. The subscription periods will remain unchanged and will continue until November 21 for individuals and other investors in the UAE and Saudi Arabia (the UAE retail offer and the KSA retail offer); and until November 22 for the offering to qualified institutional investors in a n...

Rethinking its priorities to address its use of resources for a Net Positive impact has been the core focus of City Centre Bahrain s sustainability plans. Majid Al Futtaim s City Centre Bahrain the premier shopping entertainment and lifestyle destination in the kingdom thus continues to demonstrate its increased efforts to build on its net positive carbon and water targets. Investing in best sustainable practices since the start of its operations in 2008 City Centre Bahrain has been working towards significantly reducing the company s water consumption and carbon emissions to put more back into the environment than it takes out. This is in line with the kingdom s commitment to cut emissions by 30% by 2035. Net Positive The Mall s sustainability initiatives are part of Ma...

UAE-based Azizi Developments has announced that it has sold all the retail units within the first and second phase of its mega-project Riviera in Dubai. The freehold units which are among Azizi s finest most ideally located and ROI-inclined retail spaces are easily accessible to both residents and the public and represent a perfect opportunity for new business owners said the developer in a statement. According to Azizi the units within the third and fourth phases of the French Mediterranean-inspired waterfront community in MBR City will be released soon. CEO Farhad Azizi said: We are pleased to announce the sales success we re having with our high-in-demand retail units in Riviera as well as those in our other communities across Dubai s landmark locations. It fills us with pride to see our proj...

Dubai Festivals and Retail Establishment (DFRE) has unveiled a line-up of citywide events with the announcement of the brand new 2023 Retail Calendar. The 2023 Retail Calendar is packed with a total of 18 events designed to make Dubai one of the best places in the world to live work and visit. The line-up includes the return of the iconic Dubai Shopping Festival Dubai Fashion Season Spring/Summer and Fall/Winter Collections Ramadan and Eid in Dubai Dubai Food Festival Dubai Summer Surprises and more. Dubai Fitness Challenge which has just launched its 6th annual edition will also return for a 7th edition in 2023. The announcement of DFRE s annual Retail Calendar sets the scene for the city s ever-evolving mix of experiences and events taking place at world-class malls attractions and destinations all over Dubai in 2023. Ahmed Al Khaja CEO Dubai Festivals and Retail Establishment (DFRE) said: &l...

Saudi Central Bank (SAMA) is seeking public opinion on Draft Standard Retail Consumer Finance Contract being implemented as part of its ongoing efforts to boost the finance sector. To achieve transparency and public participation SAMA has invited the public stakeholders and specialists to submit their feedback and comments on the draft through the Public Consultation Platform of the National Competitiveness Center within 15 days reported SPA. This step comes as part of SAMA s ongoing efforts to advance the finance sector ensure its transactions fairness and protect financial institutions customers. The kingdom s central bank indicated that this Standard Contract was for consumer finance products and aims to reduce differences and disparities in consumer finance contracts among financiers that engage in consumer finance activity by stating...

Retail investors in the UAE can mobilise more than AED367 billion ( 100 billion) towards top Environmental Social and Governance (ESG) priorities particularly the financing of climate transition to net zero says a report. Launching its Sustainable Banking Report 2022 titled Mobilising retail investor capital Standard Chartered explores ESG investment opportunities. This capital could also play a critical part in bridging funding gaps in the UAE s other ESG priorities including food and water security as well as pollution and waste management. The new research by Standard Chartered also identified over AED30 trillion of investable retail wealth that could be channelled into sustainable investments by 2030 to finance ESG objectives in 10 growth markets. The report also highlights investment barriers currently faced by investors and recommends solutions to expand sustainable investing (SI) int...

Dubai-based luxury property developer Damac has announced that steady progress is being made on its first community retail project Ventura Mall with around 40% of the work fully completed. Located in Damac Hills a mega project of the Emirati developer located on Umm Suqeim Road and Hessa Street and home to a flourishing community of nearly 10 000 residents the Ventura Mall is expected to be completed in 2023. Giving a project update Damac said the structure works have been fully completed while blockwork is substantially finished. Lobby MEP works and external façade works are currently in progress. Once complete the mall will boast 36 retail stores which includes 10 F&B outlets and a supermarket. This supermarket will be the second Spinneys in the Damac Hills community and will be much bigger in size at 28 600 sq ft. ...

Qatar Duty Free a fully owned subsidiary of Fifa Partner Qatar Airways has been named as Official Retail Store for the Fifa World Cup Qatar 2022. This includes a license to exclusively sell all Fifa World Cup Qatar 2022 merchandise in the fan zones and at all eight spectacular stadiums hosting the matches in Qatar. The award-winning retailer has already worked closely with Fifa at the Doha Exhibition and Convention Centre on 1 April where VIP attendees and distinguished guests were able to purchase the Adidas Official Match Ball for the very first time after its reveal at the Final Draw. Qatar Duty Free Vice President Thabet Musleh said: The excitement is building day by day and Qatar Duty Free is thrilled to have been selected as the Official Retail Store for the Fifa World Cup Qatar 2022. This enables international fans to pick up their tournament souvenirs once they arrive in the country allowing fans to enjoy the World ...

Al Rostamani Travels and Holidays (ART) a leading travel provider in the UAE has appointed Rajesh Khare as Head of Business Development in its Retail & Leisure department. Rajesh comes with a rich experience of 17 years in the Tourism industry and has extensive knowledge in e-commerce partnerships leisure hotels airlines and marketing. He has worked with leading brands such as Make My Trip Cox and Kings UAE Exchange (Travza) & others. Rajesh holds a Masters in Tourism and has acquired certifications from various Tourism Boards such as Thailand Ireland Austria Switzerland and Britain to name a few and he loves to explore new destinations in his spare time. Rajesh s main area of focus will be to grow ART s Retail Leisure and B2B business with primary objective of driving technology & social media platforms for customer acquisition and distribution network growth in the B2C & B2B channels. ...

FINTECH.TV the leading global media technology platform for Digital and Impact Investment content today announced its new studio in Abu Dhabi Global Market (ADGM) the international financial centre (IFC) of the capital city of the UAE. Going live this month FINTECH.TV will add broadcasts from ADGM s financial centre to its daily global coverage. The announcement follows the latest launch of FINTECH.TV s brand new studio on the floor of the New York Stock Exchange last week. Access to thought leaders Vince Molinari Founder and CEO of FINTECH.TV said: Broadcasting live from ADGM the leading digital-first international financial centre will give our global viewers access to thought leaders innovators and market news from one of the most important and leading financial hubs ...

Line Investments & Property the shopping mall and management arm of Abu Dhabi-based Lulu Group International has announced that it has signed retail leasing deals to add a wide range of entertainment options at Silicon Central a new two-level retail and leisure destination within Dubai Silicon Oasis. With a total of 81 500 sqm GLA and 3 500 car park spaces Silicon Central will offer a broad mix of brands tailored to ensure shoppers complete satisfaction. Adding to the unique shopping experience a diverse range of dining options will comprise of 24 casual restaurants and cafes as well as 21 food court units making it the perfect place to catch up with friends and families in an enjoyable atmosphere or to enjoy a quick snack on the run stated Line Investments & Property. Announcing a host of strategically curated new brands coming on board Silicon Cent...

Beban Bahrain s first entrepreneurship-themed reality show produced by Hope Ventures the investment arm of Hope Fund has partnered with Beyon Money for its second season airing at the end of the year. The show aims to shed light on success stories and facilitate the co-investment of high-potential businesses alongside the private sector. Its first season resulted in a commitment of 5 deals worth over 1 000 000 in total and 120 000 worth of advance orders. The second season is envisaged to be bigger and more exciting as its expansion to include entrepreneurs investors and partners from the United Arab Emirates was recently announced. Beyon Money is a super-app that offers its users a wide range of financial products and services in a single app. Given their impactful role in growing Bahrain s FinTech ecosystem it is expected that this partnership will reflect positively on Beban s shortlisted entrepreneurs as Beyon Money pla...

The Saudi British Bank (SABB) has appointed Bandar Al-Gheshayan as Chief Retail Banking and Wealth Management Officer to lead the bank s strategy in areas including Branch Network Private Banking Digital Banking and Payments. Al-Gheshayan has over 22 years of experience 16 of which he spent in the Saudi banking sector. He joined SABB in 2012 and has held several leadership roles the most recent being Chief Operating Officer for Retail Banking and Wealth Management since 2018. Prior to that he was the Regional Head of Retail Banking and Wealth Management from July 2016 to June 2018. The appointment of Bandar is one of the testaments to the success of career development plans we have at SABB which is considered a major player in managing our most valuable asset our people. said Tony Cripps Managing Director & CEO of SABB. span style= f...

UAE-based developer Arada has opened the first retail cluster East Boulevard at its fast-growing Aljada community welcoming a range of global brands and local favourites to Sharjah for the first time. The 75 000-sq-ft space represents the first section of East Boulevard to be opened. One of two main avenues located within the megaproject East Boulevard stretches for 2.2km offering a range of retail dining and services options along a wide walkable tree-lined street. According to Arada the newly-opened section of East Boulevard is located on the ground floor of the four premium Misk buildings and is anchored by a Spinneys supermarket its fourth store in Sharjah as well as an outlet from the worldwide coffee house company Starbucks. Among the international brands making their Sharjah debut in East Boulevard are: Five Guys the well-known US burger house; Tu...

The National Bank of Bahrain (NBB) has been honoured with the Best Retail Bank Award at the Mena Banking Excellence Awards 2022 instituted by MEED (Middle East Economic Digest). The accolade recognises NBB s commitment to providing best-in-class products and services to its customers in line with its brand promise of being Closer to You. With its history and leading position in the banking sector NBB received this prestigious award in recognition of its achievements in the Retail Banking sector. The bank was acknowledged for its continuous efforts in providing tailored products and services to meet the needs of its customers as part of a diverse line-up of digital banking services. NBB honours its commitment toward integrating ESG initiatives through its offerings. The bank continues to offer eco-friendly and sustainable financing plans by partnering with a range of organisations in the ...

Arabian Centres the largest owner developer and operator of contemporary lifestyle centres in Saudi Arabia has announced that work is moving at a steady pace on its key retail destinations - Jawharat Al Riyadh and Jawharat Jeddah - in the kingdom. While the Riyadh project is due for launch in the first half of 2025 the Jeddah facility is set to be operational in 2024. Arabian Centres said in bid to launch its next-generation retail experience it brought to life two new locations - Jawharat Al-Riyadh and Jawharat Jeddah - collectively bringing more than 235 6000 sq m of GLA. Work on the Riyadh mall began in August last year and is currently approaching 15% completion. Strategically located near several key capital city landmarks including the Diplomatic Quarter and Diriyah Gate the mall is being built at a total investment of nearly SR1.8 billion. /div...

Goodyear Swaidan Trading Co and Tires.ae have launched a brand-new tyre and services outlet in Mussafah Abu Dhabi. The facility marks the expansion of operations in the UAE for the global tyre manufacturer and reinforces the commitment of Goodyear and its partners to offer quality mobility products and services to drivers across the UAE. The new distribution centre will provide a comprehensive choice of passenger car tyres and a full suite of services including fitting inspection replacement and wheel balancing to serve the UAE s goal of enabling safer driving on the roads. Best-in-class mobility Goodyear grows in our commitment to deliver best-in-class mobility technology and driving experience for all UAE drivers said Khaled Arafa General Manager Goodyear Middle East &...

Airports Council International (ACI) World has launched a White Paper on airport retail to help airports adjust their commercial business strategies to reflect the evolution of the sector and support long-term sustained recovery. The Regulatory Threats and Opportunities in Airport Retail White Paper is the newest addition to the ACI Airports Non-Aeronautical Revenues and Activities (Anara) guidance series launched earlier this year. The White Paper describes some of the major legislative and regulatory threats and opportunities to airport retail and duty-free to help airport operators travel retail operators and policymakers work together to stimulate an increase in sales investment and sustainable job creation. ACI World Director General Luis Felipe de Oliveira said: As Covid-19 travel restrictions ease and passenger demand returns governments and policymakers across the world have an opportunity to leverage airports...

Oman-based Al Taher Group has announced that steady progress is being made on the four-phase makeover plan at its premier retail and leisure destination in the sultanate - Oman Avenues Mall. The redevelopment project comprises large-scale infrastructure enhancements including the introduction of a dedicated flyover extension to the development as well as bridges and the expansion of adjacent roads that will connect the property to major population-centric areas said the project developer. Al Taher Group has announced that the upgrade of the road behind the mall to a four-lane road will be completed in the next few days whilst work is in full swing on the two bridges connecting the feeder road to either side of Sultan Qaboos Street. The extension of the flyover connection to the mall is expected to be completed in the later part of the year however the new st...

Saudi-based Umm Al Qura Development and Construction Company said it has signed a strategic partnership agreement with Kaden Investment Company for the development of a distinct cultural shopping and entertainment destination within its Masar Destination in Makkah. Located on a 1.25 million sq m area in Makkah the Masar Destination boasts a 3 650-m-long boulevard as a natural extension of the mosque in addition to green spaces and many integrated cultural and social facilities. Work on Masar Front along the 3.6-km-long Masar Destination will begin soon said the statement from the developer. Once completed the Masar Front will offer visitors a wide range of experiences over the entire area of the pedestrian walkway which is more than 158 000 sq m area. This comes after a long-standing success of Kaden Investment Company in the de...

Formula E and stichd a wholly-owned subsidiary of the Puma SE Group said that the specialist brand partner has been appointed to produce high quality sustainable merchandise retailing via a new global e-commerce platform. The product range will also be available at physical retail outlets at all remaining ABB FIA Formula E World Championship races this season starting with the Rome E-Prix taking place on April 9 and 10. The new long-term partnership will see stichd fulfil a new integrated global merchandising brief including: Designing and developing a range of Formula E merchandise including apparel accessories and fan items Buying and producing products for Formula E teams Developing and operating Formula E s global e-commerce offering Providing retail services in the Allianz E-Village at ABB FIA Formula ...

wasl properties one of the largest real estate development and management companies in Dubai has announced the launch of its latest master development wasl village a residential and retail oasis in Al Qusais with easy access to Sheikh Mohammed Bin Zayed Road. A gated community the project boasts 62 buildings featuring a total of 6 200 housing units ranging from studios one- two- and three-bedroom apartments. It also includes a community centre hosting a number of retail units F&B outlets a supermarket a clinic a gym and a swimming pool. The other key amenities include a 1 700-jogging track around the project with a tennis football cricket and basketball courts a BBQ area lush green landscaping parks a mosque and an outdoor play area for kids as well as fitness equipments for adults said the stateme...

GMG a global well-being company retailing distributing and manufacturing a portfolio of leading international and home-grown brands across sport food and health sectors has announced its foray into the food retail business with the acquisition of the UAE operations of the French retailing major Géant and exclusive rights to expand Géant operations in the Middle East. A company owned by the Baker family GMG is today a leading group affiliated with the world s most successful and respected brands in the well-being sector. Working across the Middle East North Africa and Asia GMG has introduced more than 120 brands into its markets. Géant is a part of Groupe Casino a French retailing giant with a turnover in excess of EUR35 billion. Under a strategic pact with Urban Foods by Dubai Holding GMG has acquired Géant s current UAE...

Dubai Future Foundation (DFF) has launched a new initiative to support tech startups to participate in a special challenge to utilise latest technologies to develop a quality and innovative experience for luxury brand customers. The challenge is part of the Future of Luxury Retail startup incubation program organized by Dubai Future Accelerators an initiative by DFF in collaboration with Richemont Middle East India & Africa and provides the opportunity for global entrepreneurs and startups to showcase their ideas and innovative solutions to advance the retail sector. The innovative solutions will be developed as part of the Future of Luxury Retail challenge by participating startups at Area 2071 the innovation ecosystem in Dubai. The challenge aims to redesign the luxury customer experience and help Richemont utilize modern technologies to analyse data study customers behaviours and engagement and enhance the co...

Dubai Electricity and Water Authority (Dewa) has announced that it has increased the number of shares offered in the First Tranche (Retail) of its initial public offering from 260 million to 760 million shares following significant demand and oversubscription from retail investors. After receiving approval from the UAE Securities and Commodities Authority (SCA) the Dubai government as the selling shareholder took the decision to increase the size of the Retail Tranche from 260 million shares to 760 million shares. This means that the number of shares offered in the IPO has increased from 8.5 billion ordinary shares to 9 billion ordinary shares which would result in a free float of 18% of the utility s share capital with the Dubai government continuing to own 82% of Dewa s share capital. Dewa was created in 1992 following the merger of the Dubai Electricity Compan...

Physical retail environments are simplifying in-person transactions and enabled by mobile digital tools they are offering more bespoke localised and service-based experiences stated CallisonRTKL (CRTKL) a global cultural agency specialising in architecture planning and design in its recent report identifying the key trends for the technological evolution in retail sector. Going forward retailers will leverage data to drive customer personalisation and look at past purchases or preferences to target future purchases it stated. Paul Firth Associate Principal at CRTKL said: Technology is accelerating change in retail with personalised shopping giving customers an authentic and convenient experience. The pandemic demonstrated the demand for digital shopping and retailers who harness the power of technology to enhance service-based experiences ...

Nahdi Medical Company a leading retail pharmacy chain and fast-growing omnihealth platform in Saudi Arabia has announced the completion of the final allotment of shares in relation to the initial public offering (IPO). Following the completion of the institutional book-building process the individual investors offering took place from March 13 to 15. The retail offering saw 1 099 863 retail investors subscribing to invest SR6.76 billion ( 1.8 billion) at the IPO price of SR131 per share indicating coverage amounting to 13x for the retail tranche. The number of shares that were allocated to the individual investors tranche was 3 900 000 shares representing 10% of the total offering. The retail offering followed the completion of the institutional book-building process which was oversubscribed 59 times. The company allocated a minimum of 3 shares to each retail subscriber included in the subscription request. The remaining sha...

DP World s leading trade and logistics hub Jebel Ali Free Zone (Jafza) which plays a significant role in driving the growth of the UAE s retail sector through its advanced warehousing and distribution solutions is showcasing its multidimensional retail matrix model worth nearly AED40 billion ( 10.9 billion) at The Retail Summit 2022 being held in Dubai UAE. The aim is to displays the free zone s innovative services and facilities that position Dubai and the UAE as one of the leading retail hubs across the globe DP World said in a statement. Home to over 1 260 companies from 92 countries Jafza has over the years cemented its position as the leading global hub for trade and logistics by catalysing the advancement of the UAE s retail trading and e-commerce sector through its unmatched facilities. The Free Zone has over 1.89 million sq m of combined facilities 51 700 sq m warehouse space and over 1.8 million sq m of dedica...

dnata one of the world s largest air and travel services providers has been appointed to manage easyJet s inflight retail services across the airline s extensive network. The partnership will see dnata deliver a tailor-made on-board retail programme and innovative solutions for the airline supporting it to further enhance its retail range onboard and customer satisfaction. The agreement will see dnata provide easyJet with a comprehensive suite of services covering retail strategy; product development and selection across food beverage and duty-free; procurement; marketing; cabin crew engagement and financial management. dnata will work closely with easyJet and leading technology providers to deliver a modern technology-led programme with the airline s customers front and centre. dnata has also been appointed to provide end-to-end logistics and last-mile services to easyJet across the UK and Italy covering ...

AkzoNobel a global pioneer in paints and coatings is expanding its presence in Qatar following recent successes in securing large scale projects. The move builds on AkzoNobel s growing presence in Qatar having recently acquired full ownership over AkzoNobel Qatar and following its announcement of a new global innovation and development centre for its Marine Coatings business. As the global leader in the industry and most sustainable paints company AkzoNobel has successfully supplied its Dulux professional paint to the Hamad International Airport Passenger Terminal Complex and many other landmarks across the country. AkzoNobel is now expanding into the retail market by launching Sadolin Dulux its premium range of decorative products in order to bring its brand closer to its retail consumers in Qatar. Sadolin Dulux w...

Enoc Group the Official Integrated Energy Partner of Expo 2020 Dubai is on track to increase its UAE retail footprint from 162 fully operational service stations at the end of 2021 to 186 service stations in 2022. Enoc concluded 2021 with the opening of four new service stations in Sharjah. Throughout 2021 Enoc opened 15 new service stations including its Service Station of the Future at the Expo 2020 Dubai site and new stations in Fujairah and Dragon Mart 2. Since announcing its build plan in 2016 Enoc has opened 55 service stations. Saif Humaid Al Falasi Group CEO Enoc said: We are strengthening the infrastructure of the UAE to meet the growing demand of our customers which is aligned to the UAE government s long-term plans to provide the highest quality of life to its people. By adding 24 new service stations to our existing network in 2022 we are demonstrating our commitment to serving th...

At a time when the UAE national retail sales have reached 71 billion the Retail Summit 2022 the global content-led event is returning this month to Dubai presenting a billion-dollar opportunity. With major industry international leaders from across the globe slated to attend the summit from March 14 to 15 at Atlantis The Palm will identify key data and analytics relevant to the growth sustainability and innovation of the global retail industry. The summit in partnership with Dubai Chamber of Commerce brings together leading retail experts and uncovers their imperative role in leading the development of the global industry. This is particularly pressing at a time when technologies Gen Z trends and ecommerce effects on retail are now key elements in shaping the global industry s roadmap. According to recent studie...

Emirates has opened the doors of a new retail sales office in Fujairah further expanding its presence in the Northern Emirates and offering more convenience to customers wishing to book their next trip. Located in Al Ghilaila Building overlooking the Fujairah corniche the new office was inaugurated by senior Emirates and dnata commercial and sales executives in a ceremony attended by local government representatives. To celebrate the airline s expansion in the Northern Emirates Khalid Bel Jaflah Emirates Divisional Vice President UAE; Shaz Peshimam Senior Manager Dubai and the Northern Emirates and Khalid Hassan District Manager Northern Emirates were joined by dnata representatives including Simon Woodford Vice President Global Air Services and Distribution dnata Travel Group along with Yaser Rashed Mohammed Rashed from Fujairah Police and Esmaeil Al Boloushi General Manager Fujairah International Airport for a ribbon cu...

The second edition of The Retail Summit in Dubai brings together the brightest minds in the industry to reshape and define the next generation of retailers. The Summit taking place from March 14 to 15 at Atlantis The Palm will bring industry experts who will facilitate discussions on the global economic outlook Gen Z s impact on retail trends retail revolution sustainability and an overview on the future of ecommerce. It is set to welcome retailers leaders and industry experts worldwide to explore the evolution of the industry and markets at an in-person event a first for the summit since the 2020 pandemic began. The Retail Summit s second edition focuses on discussing the new retail landscape resulting from the global pandemic. With talks that will include addressing the future of the retail industry internationally we look forward to spotlighti...

Retailers in the GCC must come together with their banks to provide easier access to working capital to suppliers and manufacturers a retail industry think tank has said. In a white paper published in February 2022 the UAE Retail Industry Think Tank called for retailers and bankers to introduce supply chain finance programmes to make it easier for retail suppliers and buyers to gain access to capital. The call for improved supply chain finance mechanisms is one of the 26 recommendations detailed in Rewiring the Supply Chain: Driving resilience and financial sustainability in the GCC retail supply chain the second white paper published by UAE Retail Think Tank. The think tank which is organised by MEED in partnership with Mashreq Bank says that retail suppliers are facing increasing financial pressure from the need to satisfy consumer expectations of the ins...

UAE-based Azizi Developments is set to release more than 150 retail units from the remaining stock across its projects including the flagship master-planned community Riviera Creek Views in Dubai Healthcare City and several buildings in Al Furjan. Following the mantra of saving the best for last the units which were previously kept unreleased make up some of Azizi s finest most ideally located and most ROI-inclined retail spaces in Dubai said a statement from Azizi. Azizi Developments construction has been progressing more rapidly than ever before in 2021 a momentum that the developer is upholding well in 2022. In the past year alone Azizi has handed over thousands of units including those of Aura in Jebel Ali Mina on Palm Jumeirah and Samia Farishta Shaista Plaza and Star in Al Furjan stated the developer. d...

The UAE retail economy continues to show robust signs of recovery surpassing 2019 levels by achieving a 4.5% growth in overall consumer spending in 2021 and presenting a positive outlook for 2022. Unsurprisingly e-commerce flourished in 2021 as consumers continued to prioritise convenient shopping experiences. POS (point of sale) data revealed a 104% increase in online shopping spending in 2021 compared to 2019 with the majority of online spending by residents in hypermarkets or supermarkets or general retail online offerings rising 46% in Q4 2021 from the third quarter according to Majid Al Futtaim the leading shopping mall communities retail and leisure pioneer across the Middle East Africa and Asia. The company s fourth edition of its quarterly State of the UAE Retail Economy report confirm Q4 2021 marked a standout period for consumer sentiment and overall spending boosted by Expo 2020 improvem...

wasl properties one of the largest real estate development and management companies in Dubai has announced the launch of its latest development wasl green park a residential and retail oasis in the heart of Ras Al Khor. The huge project boasts 41 buildings featuring 2 527 housing units ranging from one- two-and three-bedroom apartments. The wasl green park will be delivered in three phases with the first two phases featuring 1 766 units across 27 buildings whereas the third phase will be launched next year comprising 14 buildings that constitute 761 units as well as 157 144 sq ft of retail space. The unique project is characterised by the spread of green spaces throughout in addition to the easy access to Sheikh Mohammed Bin Zayed Road and Al Khail Road. It also provides residents with several facilities including a kids play area ...

Dubai is expected to see sustained economic growth in 2022 supported by an expected uptick in business activity in the tourism and retail sectors according to new analysis from Dubai Chamber of Commerce & Industry. The data insights released during a business seminar titled The Road Ahead: UAE and Dubai Economic Outlook and Opportunities in Dubai Exports pointed to a positive and robust recovery for the UAE economy over the next five years. In 2022 the UAE economy is projected to record an estimated annual GDP growth rate of 3.4 per cent due to the expected recovery in domestic demand recovery in international oil prices and the rebound in global demand for goods and services since mid-2020 onwards. Expo 2020 Dubai and the adjustment to the Monday-Friday work week is expected to improve the prospects of UAE trade and business with the rest of the world in the short- to me...

Dubai Investments is strengthening its presence in the retail sector by seamlessly integrating new retail spaces and units within its mixed-use developments across the emirates said a top official at the Retail Congress MENA (Recon) event which opened today (December 6). During the two day-event Dubai Investments will be highlighting its retail portfolio that includes more than 375 000 sq ft of retail space and 200 retail units across its mixed-use developments like Mirdif Hills and Al Taif Business Centre located in the UAE and the emirate of Fujairah respectively. The Market located in the Green Community Dubai Investments Park is also part of the retail projects being highlighted at Recon. The company plans to add further retail spaces through expansion works and new project announcements across the emirate. Al Taif Mall the G 2 ...

UAE residents prefer to purchase clothes bags and accessories in-store with convenience (51%) an enhanced shopping experience (49%) and competitive pricing (44%) being the main motivators a survey reveals. As Covid-19 cases continue to decline in the country residents regain confidence in brick-and-mortar stores this is according to a Kearney study. With online in-store and omni-channel retailers going head-to-head for customer acquisition building stronger brand connections will become integral said Debashish Mukherjee Partner Consumer and Retail at Kearney Middle East. Consumption habits have undergone a fundamental transformation in the past 18-months where we saw a rapid acceleration in the adoption of online shopping and spending. While e-commerce has not slowed down as retailers invest in creating a safe environment and competitive pricing of their g...

The Store Makers in the Middle East - a part of the Premium Retail Division that creates top-quality shopfitting with imagination a feeling for materials and pioneering trends - is uniting JWP Technical Services HDD Interiors and umdasch as three strong brands under one roof starting from January 1. This forms a powerhouse that will be one of the largest and most renowned companies for Retail Interiors in the Middle East with its substantial manufacturing capacities and retail expertise as well as an even wider service portfolio. All three companies are already playing in the top shopfitting league with their respective areas of expertise. Of this umdasch has project experience in the Middle East for more than 30 years including a good 10 years with its own production facility in Dubai. The reference list compri...

CallisonRTKL (CRTKL) a global consultancy specialised in architecture design and technology has unveiled its role in the design of mega-project Riyadh Front a new retail destination in the heart of Saudi Arabia s capital. The development by Kaden Investment Company aids the economic cultural and societal pillars of the esteemed Saudi Vision 2030 in attracting modern local regional and international brands that contribute to the economy through modern trade. Located on King Khalid International Airport road the retail development is built on more than 180 000 sq m and includes top brands and restaurants along with a premium movie theatre. The first-of-its-kind outdoor retail resort integrates smart architecture and human-centered design to host innovative modular offices stunning green spaces and water features. This is in addition to world-class shop...

GapMaps the Australian cloud-based mapping software specialist continues to expand its international presence which now extends to 21 countries including the UAE. Despite Covid-19 the retail sector has adapted to new customer demand patterns and built new channels to market. In the UAE GapMaps has seen strong growth in the fast-food delivery channel which is creating demand for data and insights that enable retailers to better plan for and capture the potential of this growing market. Since 2018 we ve been adding five new markets each year and double-digit revenue growth year-on-year says Anthony Villanti GapMaps Managing Director and Founder. This growth is due to the ease-of-use and sophistication of our mapping software which uses the very latest demographic government and industry data to help clients choose the right physical locatio...

Adnoc Distribution the UAE s largest fuel convenience retailer is the first fuel retailer in the Middle East to launch the next generation retail experience a fully autonomous and contactless and cashier-less Adnoc Oasis store. It offers new state-of-the-art cashless and contactless payment system and an AI technology enhanced shopping environment. Busy customers will no longer have to queue or wait for staff to become free and unlike existing self-service terminals in retail outlets there s no need to scan items. Customers only need to tap in with a bank card Emirates ID or scan the QR code pick up the items they need and then simply walk out. Payment is taken after the customer leave the store either through the app or the bank card used to enter the store with all details of purchase stored in the app or through an e-receipt. Bader Saeed Al Lamki CEO Adnoc Distribution said: Our enhanced Adnoc Oasis s...

Carrefour tops YouGov s Retail Rankings 2021 in Egypt within an Index score of 28.1. Popular retail brand Souq.com (23.6) recently relaunched as Amazon Egypt is second in the list followed by its parent company Amazon.com in third (18.2). Egypt s local grocery brand Aswaq Fathallah Markets (17.1) occupies the fourth place followed by HyperOne (15.5) and Jumia.com (15.4). Swedish home furniture and accessories brand IKEA having recently opened doors to its second large-format store in Egypt finds itself in the eighth place (12.7). Other notable homegrown brands that complete the top ten for Egypt are Awlad Ragab (14.8) B.Tech (12.6) and Kazyon (11.7). Methodology: The brands in YouGov Retail Rankings were ranked based on their Index score which is a measure of overall brand health ...

Carrefour and Adidas are the retail brands perceived as delivering best against their brand promise on key brand health-related metrics according to UAE residents. Carrefour tops the UAE rankings with an Index score of 42.2 YouGov s Retail Rankings 2021 reveal. Swedish furniture giant IKEA is placed second (33.1) followed by UAE s retail major Lulu Hypermarket in third (30.8). Amazon.ae secures the fourth place (26.8) in the list while Amazon s paid subscription programme Amazon Prime appears in ninth (18.0). Homegrown brands such as Noon.com (23.9) Sharaf DG (22.3) Adnoc (18.6) and UnionCoop (14.8) also feature in the list amidst a host of global names. Finally completing the top ten list for UAE for the category of Online & Offline Retailers is Swedish ...

Aramco and TotalEnergies have launched the first two service stations of their joint retail network in Riyadh Saudi Arabia s capital and Saihat in the country s Eastern Province. It follows the signing of a 50:50 Joint Venture (JV) Agreement between Aramco and TotalEnergies in 2019 with plans to significantly upgrade a network of 270 service stations and expand the range of quality retail services available across the kingdom. This network will comprise Aramco or TotalEnergies branded stations providing motorists with premium fuels and retail services. Amin H. Nasser Aramco President and CEO said: The opening of the first service stations marks an important milestone as we continue to expand our presence in the kingdom s downstream value chain. With our longstanding partner TotalEnergies we are creating a premium network that will enhanc...

Bain & Company Middle East will host a panel discussion that examines current trends in the Mena consumer culture and how companies and retailers can better serve the needs of these new Mena consumers. At the 5th Anniversary of the Future Investment Initiative (FII) a three-day programme to be held in Riyadh from October 26 to 28 Bain will dive into global retail trends while identifying the ones which are most relevant to the Mena region in the short or long term. Moderated by Anne-Laure Malauzat Partner at Bain & Company Middle East the session will take place on the first day of the event from 15:45 to 17:00 (KSA time). Malauzat will be hosting C-level executives of leading retail companies in the Mena region. The discussion will focus on how today s consumer is evolving into a more informed purchaser demanding more personalised and digitalised services with a growing interest in newe...

Etisalat is demonstrating the retail spaces of tomorrow at Gitex Global 2021 with futuristic solutions that will transform the brick-and-mortar experience setting the pace for digital retail and enabling a digital experience for consumers. With 5G connectivity digitisation is a reality and during this year s edition the demonstrations will help visitors witness the evolution of retail and experience a connected store at the same time. Now with the 5G network it will become a critical enabler of these futuristic use cases opening up a world of opportunities for the retail sector. The main sections of smart retail focus on grocery smart checkout solutions food and beverages lifestyle and connected fashion and retail dashboard. There are advanced AI use cases machine learning and computer vision all with Etisalat s payment s functionality integrated to demonstrate the capability of providing complete end-to-end solutions in this d...

Majid Al Futtaim a leading shopping mall communities retail and leisure pioneer in the region has appointed Mace the global consultancy and construction company to support the delivery of its flagship SR16 billion ( 4.26 billion) integrated retail and lifestyle development - Riyadh North - including the integrated lifestyle destination Mall of Saudi. The master-planned Riyadh North project and Mall of Saudi is expected to house over 600 retail stores across a 300 000 sq m gross leasable area nine hotels and branded residences with 2000 keys and Ski Saudi the largest indoor ski slope and snow park in the Middle East. Reinforcing its commitment to Saudi Arabia and its contribution to Vision 2030 Majid Al Futtaim said its Riyadh North development is the fastest growing zone in the city and is already gathering pace. Mace which was appointed following a c...

Arabian Internet and Communications Services Company (solutions by stc) a leading ICT services provider in Saudi Arabia has announced completion of its retail offering process for its initial public offering (IPO). The subscription period for Individual Investors Tranche comprising 2 400 000 shares representing 10% of the total offering at a final Offer Price of SR151 ( 40.2) commenced on September 19 2021 and ended on September 21 2021. The Individual Investors Tranche witnessed participation by 1 042 090 subscribers and was 2365.0% oversubscribed with a total demand of SR8.6 billion. Each retail subscriber will receive a minimum of 2 shares while the remaining shares will be allocated on a pro-rata basis for the remaining demand with an average allocation factor of 0.5776%. The offering to individual investors followed the Institutional Book-building process which registered an IPO order book that was 13004.7% oversubscribed at...

Renowned luxury holding company Kane & Ashley has announced the launch of Le Éleur its exclusive online retail portal for discerning individuals who enjoy seeking out the finer things in life. This foray into the world of e-commerce is a natural extension to the mission of Kane & Ashley and its sister companies Mavroki K&A and Eval of providing opulent pieces that set them apart from anything within the luxury-good market. Le Éleur offers a unified platform for their diverse collections to be accessible in a stylish easy-to-navigate portal. These ranges from the unique sought-after fragrances by French perfume house Mavroki to the lavish timepieces by sister brands K&A and Eval which feature motifs that suit the tastes of both male and female wearers to exquisite items made from genuine Italian leather to intricately crafted writing implements among...

Islamic banks in GCC countries and South and Southeast Asia are focusing on low-risk retail finance which will help protect their asset quality amid an uneven economic recovery across these regions said Moody s Investors Service in a new report. Regulatory forbearance has masked the deterioration in the banks loan books and high provisioning costs will continue to weigh on profitability but their capital and liquidity buffers should comfortably absorb unexpected losses said Badis Shubailat Analyst at Moody s. Consolidation within fragmented Islamic banking markets presents opportunities. Key points: Return on assets will remain on average below pre-pandemic levels this year because of low interest rates a still-subdued operating environment and high provisioning costs. Strong demand for Islamic finance which is growing faster t...

The newly-formed Creative Media Authority (CMA) will play a key role in furthering Abu Dhabi s strategy for the Culture and Creative Industries by creating a powerful alliance of interconnected creative domains. As part of the DCT Abu Dhabi the new entity is the latest milestone in the emirate s AED30 billion ( 8.17 billion) investment strategy to expand the entire Culture and Creative Industries (CCI) a WAM report said. The establishment of the CMA is part of a 10-year investment strategy across Abu Dhabi by both the public and private sectors to develop the emirate s culture and creative infrastructure with AED8.5 billion invested over the past five years and a further AED22 billion being rolled out in the next five years. The move brings the CCI industry under one umbrella as DCT Abu Dhabi now consolidates Abu Dhabi s multidisciplinary domains ...

Majid Al Futtaim the leading shopping mall communities retail and leisure pioneer across the Middle East Africa and Central Asia has announced the opening of the Mall of Oman in Muscat. The sultanate s largest shopping and leisure destination the Mall of Oman boasts a 9 000 sq m Carrefour Hypermarket as part of Majid Al Futtaim package as well as the largest Vox Cinemas - complete with 15 screens - in addition to the only IMAX experience in the country the first GOLD experience in Oman and a big Magic Planet facility featuring award-winning rides games and attractions. Alongside this offering customers will get to enjoy a host of brands from the Landmark and Apparel groups. In addition Mall of Oman will offer famous outlets such as DKNY Nespresso G-Shock Homes R Us Tavola and Al Khalili Buildex ensuring there is something for everyone. And for t...

UAE-based Azizi Developments has announced the release of its last retail and commercial units across phases one and two of Riviera its new French Mediterranean-inspired landmark destination in Dubai following the market s rapid absorption of its existing inventory. This move comes in light of a substantial surge in demand for units facing the newly announced lagoon which will allow residents to swim in crystal blue filtered and desalinated waters and unwind on its beach-like shores said Azizi in a statement. Following the surprise announcement of the lagoon last month Azizi has sold out its existing released inventory of lagoon-facing units within just days it added. The gigantic crystal lagoon which is akin to a massive swimming pool over 2.7 km long that will cover an area of more than 130 026 sq. m and will stretch across the entirety of the Riv...

LG Electronics (LG) has announced the availability of its latest industry-leading OLED televisions in the Gulf region. It is a flagship TV lineup upgraded with features such as a new OLED panel greater colour accuracy and contrast an enhanced AI processor and redesigned webOS interface for an even more seamless end-user experience. LG s 2021 OLED TVs spearheaded by the G1 and C1 series represent the company s most comprehensive range of OLED TVs to date with exciting new models that build on the brand s legacy of superior picture quality. LG s latest G1 series features OLED evo the next step in the evolution of OLED TV technology that delivers better luminosity for higher brightness and punchy images with amazing clarity detail and realism. When it comes to the ultimate viewing experience of OLED LG s C1 series boasts a host of size optio...

Despite the challenges of the global pandemic retail property markets in Saudi Arabia witnessed higher footfall in malls and retail centers according to JLL s latest KSA Real Estate Market Performance report. Saudi Central Bank (SAMA) announced that the point-of-sale (POS) transactions have been increasing over the past few weeks and almost doubled compared to the same period last year. The POS transactions rose by 72% to SAR 40.3 billion in May 2021 from SAR 23 billion in May 2020. Data also showed that a total of 407 million transaction were processed in May 2021 an increase of 155% compared to the same period last year. According to JLL s report the trend indicates that despite the change in consumer behaviours and the shift to e-commerce many customers still prefer the physical experience . The ...

Bahrain s leading telecom services operator Batelco has announced the opening of a one-of-its-kind retail shop for Bahrain s telecom sector in Zallaq. The new outlet features not only a walk-in shop but also a drive-thru and is completely cashless in line with modern international retail trends. The shop is located in the vibrant and quickly developing Zallaq area close to the BIC University of Bahrain and exciting new tourist and business facilities that are currently being built such as the new Bahrain International Exhibition & Convention Center. It will be open 24/7 the first telco retail shop outside of the airport serving around the clock. On the new retail concept General Manager (Consumer Division) Maitham Abdulla said: Batelco aims to create retail spaces that are more inviting for its cu...

Mall of Dilmunia a unique family destination in Bahrain offering a new shopping and entertainment experience has opened seven new brands - Kafed Junaid Perfumes Florencia The Groom Room Asgharali Ajmal Perfumes and Dose Café - within its premises. The selection of brands is diverse and one that will accommodate both essential services F&B retail and entertainment. Amongst the new F&B which has recently opened on the Lower Ground Floor is Kafed. This new café provides visitors the finest Greek coffee that boasts a mixture of roasts it also features a modern and cozy interior to go with the perfect cup of fresh coffee alongside delicate sandwiches and mouthwatering desserts. Commenting on the occasion CEO Shaikh Mohammed bin Duaij Al Khalifa said: We are glad to announce the opening of a number of our valuable tenants who will add to the m...

E-Vision has launched a new initiative identifying the audience s selections trends and desires from eLife the region s largest and most successful IPTV service that is set to put the UAE at the forefront of TV audience measurement in the Mena region. Television Audience Measurement (TAM) system identifies the number of views and the interests of TV viewers so that TV stations can develop their programs to match the desires of their audience and to air them at the most appropriate timings. For many years the Mena TV industry has had to rely on telephone surveys for audience information whilst broadcasters around the world have had access to people metering (direct recording of TV viewing) to measure and understand audience nature. This is about to change with E-Vision s initiative. The TAM system is accredited by an independent audit agency following rigorous testing and verification. Broadcasters agencies advert...

Emirates NBD a leading banking group in the Menat (Middle East North Africa and Turkey) region was voted by consumers to win the award for the Most Recommended Retail Bank in the UAE in the Middle East at The Asian Banker s 2020 BankQuality Awards. As part of its 2020 BankQuality Consumer Survey on Retail Banks The Asian Banker gathered feedback from 3 000 consumers in the UAE Saudi Arabia and Egypt on satisfaction with their retail banks. The survey assessed consumer perception attitude and loyalty to financial institutions based on experience with service channels products and Covid-19 support initiatives. The findings were derived as a BankQuality Score for The Asian Banker s evaluation of the Best Retail Finance Institutions in the region. Emirates NBD scored high in different areas such as mobile banking personal loan and remittances. The bank was commended for its leadership in innovation ...

Titan Watches continues to extend its footprint here in the region announcing today that they are on course to expand to 350 retail outlets by 2023. In addition to 5 exclusive brand outlets opening here in the UAE in 2021 the fifth largest watchmaker in the world is focusing on GCC-wide growth in conjunction with partners Khimji Ramdas LLC in Oman and the Al Batel group in Kuwait not to mention increasing their overall presence across all major e-commerce platforms. Earlier this week the brand announced its special-edition Crescent Collection inspired by the Holy Month and its accent on reflection and quiet contemplation. Featuring 4 stunning timepieces for women and men certain to resonate with the contemporary collector it truly captures the timeless appeal innovation and elegant design the world s fifth largest watchmaker is known for. Each distinct feature of the ...

Citigroup has said it will close retail banking operations in 13 countries across Asia and parts of Europe including Bahrain to focus more on wealth management outside the US. This move one of the first big strategic moves made by CEO Jane Fraser who took over in February will also cover the consumer franchises in Australia China India Indonesia Korea Malaysia the Philippines Poland Russia Taiwan Thailand and Vietnam. Citigroup s Institutional Clients Group will continue to serve clients in said a statement. Tweeting on the decision CEO Jane Fraser said: Let me be clear on one very important point: Citi will continue to invest behind and serve our institutional clients in these thirteen markets. Meanwhile Citigroup reported a net income for the first quarter 2021 of 7.9 billion or 3.62 per diluted share on revenues of 19.3 billion.&n...

Hotpack Global a leading manufacturer of disposable food packaging products announced opening of its largest retail store for food packaging products in the UAE. The outlet is the biggest of Hotpack s 32 sales centres will offer a versatile range of food packaging products for both retail and wholesale customers Hotpack Global said in a statement adding that its product range will continue to reinforce the company s uncompromising focus on quality innovation and hygiene. The new sales centre is our 32nd in the GCC. The opening of the outlet comes in the backdrop of the exponential growth of the food packaging industry in the UAE which is poised to be at AED 14 billion in the next five years from AED 10 billion in 2020 said Abdul Jebbar PB Group Managing Director Hotpack Global at the opening of the centre in the presence of the chief guest Adnan Jasim Rashid Boausaibah Directo...

Diyar Al Muharraq one of the largest real estate development companies in Bahrain has announced that construction is well under way on the Souq Al Baraha project the latest retail and hospitality addition to its integrated city and close-knit community. With over 80% work completed including the superstructure Souq Al Baraha is expected to be open to the public within 2021. The project has already attracted both local and international businesses to its premises and has successfully booked a myriad of tenants for occupancy to date including restaurants cafés as well as carpet and antiques vendors said a statement from Diyar Al Muharraq. In addition designated spaces and sections have been earmarked for gold and jewellery traditional spices and sweets alongside fresh produce ranging from fruit to fish meat and poultry it stated. &...

Vincitore Realty a branded-boutique real estate developer has launched The Promenade a key retail and tourism destination located within its Vincitore Boulevard project next to the Miracle Gardens in Arjan a thriving neighbourhood of Dubai. Situated just 10 minutes away from the 7 Distinct Residential Communities of Arjan JVC Motor City Sports City Arabian Ranches Dubai Hills and Al Barsha South The Promenade will be the new go-to place said the developer. Spread over a 100 000 sq ft area it offers retail experience along with a 250-m long boulevard boardwalk that creates an ambiance to relax unwind reconnect and enjoy. It embraces a striking vision of the most extensive boutique outdoor experiential lifestyle retail for the visitors and for the retailers to extend their customers remarkable experience like never before said a top official. ...

Majid Al Futtaim a leading shopping mall developer communities retail and leisure pioneer across the Middle East Africa and Central Asia has officially opened its newest lifestyle and retail experience in the Northern Emirates: AED2.6 billion ( 708 million) City Centre Al Zahia. Featuring distinct architecture and offering exceptional hospitality options the City Centre Al Zahia is expected to become a popular destination within the emirate with art and culture at the heart of the unique experiences it offers. Crucially the mall will also connect seamlessly to Majid Al Futtaim s one-million-square-metre residential community Al Zahia. A short walk away from the new mall Al Zahia has been envisioned as Sharjah s premier lifestyle destination and is part of the strategic partnership between Majid Al Futtaim Properties and Sharjah Asset Management. ...

Jadwa Investment one of the region s leading investment management and advisory firms has signed a sale and purchase agreement to acquire The Boulevard Riyadh a luxury retail and office complex in the north of Riyadh for SR320 million ( 93.2 million) on behalf of Jadwa REIT Saudi Fund. The Boulevard Riyadh on Prince Turki bin Abdulaziz Al Awwal Road in the Hittin district features shopping dining offices luxury hotel apartments recreation and fitness facilities. It has a total land size of 18 854 sqm a built-up-area of 36 340 sqm and a 97% occupancy rate. The acquisition of the property will be financed through a SAR 370 million capital increase of the fund which will consist of an in-kind contribution from the seller and the issuance of additional cash units. Jadwa REIT Saudi Fund is a closed-ended Shariah compliant real estate investment-traded fund ...

Nakheel Malls the retail arm of master developer Nakheel has joined hands with DP World the leading smart trade enabler and provider of global end-to-end supply chain logistics to launch a centralised one-stop-shop Souk Al Marfa. Strategically located at Deira Islands and stretching 1.9 km along the waterfront Souk Al Marfa is in close proximity with Mina Rashid Mina Al Hamriya and Deira Wharfage with the potential to ship and import directly to its 2 500 shops and pavilions. Due to open in April 2021 the vibrant retail and trading hub will operate seven days a week and 365 days a year. A centralised one-stop-shop at Deira Dubai s oldest and most traditional trading hub Souk Al Marfa provides affordable growth opportunities to traders by offering multiple benefits including 100 per cent foreign ownership repatriation of capital and profit no restrictions on...

Madinah Municipality has invited expressions of interest from leading investors for the Central Area Plot Development Project in Al Naqaa neighbourhood within the Saudi city on a BOT (build-operate-transfer) basis. The scope of work includes construction operation and maintenance of hospitality and retail assets on a 3 550 sq m area. The municipality said the project which is located on the south/southwest side of the Makkah mosque will be offered in two phases: the first for qualification of applicants and the second for qualified developers consortiums or consortium developers to bid for the project and also for establishment of both - a hotel and a retail area. This project has been launched to the market after receiving the necessary approval from the Municipalities Privatization Supervisory Committee the civic body said in a statement. /div...

SAP has announced retail-specific findings from a research study conducted in partnership with Oxford Economics revealing how business leaders use digital innovation to be data-driven and focused on experiences. SAP and Oxford Economics surveyed 3 000 executives from 10 industries including 300 from the retail sector. Business leaders were asked to evaluate their value chain including operations and business ecosystems and how they manage this broad web of relationships as a unified entity. The results summarized in The Responsive Retailer illustrate the importance of data sharing and using a holistic systems thinking approach. Key findings include: While just over half of retailers cite a digital supply chain as a top-three priority for their success many have not yet integrated the types of technologies such as AI that comprise an intelligent digital supply chain. Also only 29% are effectively sharin...

GFH Financial Group (GFH) the leading investment group in the Middle East has expanded its presence in Bahrain s retail sector by acquiring 80 per cent of Hidd Mall alongside a strategic investor. The 46 000 sq m mall located in the fast-growing area of Hidd in Muharraq is fully leased to Lulu Hypermarkets a major retail chain in the Middle East. The mall currently boasts 100% occupancy with Lulu Hypermarkets sub-leasing the space to a diverse range of multinational regional and local tenants. GFH currently has 12 billion asset and fund under management across a range of industries and sectors globally. In addition to Hidd Mall the group s retail investment include Events Mall in Jeddah and the Entertainer the leader in loyalty and rewards solutions it stated. On the deal Chief Investment Management head Hammad Younas said: GFH is excited to announce thi...

Emirates NBD a leading banking group in region has won top international honours for its leadership in retail banking and digital innovation at the recently held 11th annual Retail Banker International (RBI) Asia Trailblazer Awards 2020. The bank was named Best Retail Bank in the UAE in recognition of its continued market leadership strong customer franchise and performance excellence. Emirates NBD was also recognized for Excellence in Internet Banking in acknowledgement of the advances made in providing state-of-the-art features and a frictionless user experience to customers on the portal. In addition the division won the Excellence in Mass Affluent Banking award for its market leading Priority Banking proposition that delivered best in class investment and financial planning solutions. Liv. the lifestyle digital bank for millennials was commended for its Social Media Marketing including for its unique win a...

Samsung TV Plus Samsung s free Smart TV video service which delivers instant access to news sports entertainment and more has now expanded to 12 countries and 742 channels worldwide bringing access to over 60 million Samsung Smart TVs. Since launching in 2015 Samsung TV Plus has become one of the most popular OTT streaming services with more than 15 million active users. Integrated into Samsung s Smart TV platform TV Plus is 100% free no subscriptions or credit cards needed. The service comes pre-installed on Samsung Smart TVs dating back to 2016 and has recently launched the service on select Samsung Galaxy devices in the US making it even easier to watch live and on-demand TV anytime anywhere. TV Plus now partners with around 300 of the world s leading broadcast networks content platforms and digital creators to provide Samsung Smart TV owners a premium at-home viewing experience. With the new expansion Samsung continu...

Azizi Developments a leading private developer in the UAE has noted a substantial surge in demand for its retail units across projects in the fourth quarter of 2020 despite the pandemic-induced challenges that the real estate industry has witnessed. The total units sold now stand at 315 with Riviera the French Mediterranean lifestyle project located in the very centre of Dubai registering the highest sales of over 200 retail units across its Phase One and Phase Two. In Al Furjan 36 retail units were sold with the rest of the sales being spread across Avenue Azizi s newly launched MBR City development Creek Views and Aliyah its contemporary projects in Dubai Healthcare City that represent the new benchmark for convenience practicality and modernism and Mina it s luxury project with private beach access on the Palm Jumeirah stated the developer. ...

Diyar Al Muharraq one of the largest real estate development companies in Bahrain has announced that construction work is in full swing on Souq Al Baraha a leading tourist destination coming up within its integrated city in the kingdom. More than 40% of the project has been completed and is due for official opening at the start of the second quarter of 2021 said the statement from the developer. Souq Al Baraha has a built-up area of 20 242 sq m and covers a total land size of 64 202 sq m; it includes a total leasable space totaling 13 431 sq m and comprises 468 stores and 20 office units. The project aims to provide visitors with an integrated shopping experience complemented by 686 of parking space. Al Moayyed Contracting is the main contractor on the project. So far a substantial percentage of the project s spaces have alrea...

UAE s leading telecom services operator Etisalat is pushing the boundaries of innovation at the 40th edition of Gitex Technology Week as it takes everyone on a journey of immense possibilities in the future of mobility and retail with the transformative power of 5G and futuristic technologies. This year at Gitex Etisalat is introducing new mobility segments along with 5G connectivity in commercial and regional as well as inter-regional aerial transport. This in line with Etisalat s continuous efforts to boost the Dubai Government s strategy to raise the share of autonomous transport to as much as 25 percent of the total transportation in the emirate by 2030. Saeed Al Zarouni Senior VP Mobile Network Etisalat said: 5G stands out as a game changer with rich potential an evolution that would elevate services performance and enablement. It is in lin...

Some 94% of retail investors in the UAE were interested in or using ESG (environmental social and governance) in 2020 up from 90% in 2018 says a report by CFA Institute the global association of investment professionals. In a new global research study that examines the state of sustainable investing and how this trend accelerated by the Covid-19 pandemic will shape the investment industry over the next decade CFA says among the findings 85% of CFA Institute members surveyed now say that they take E S and/or G factors into account when investing up from 73% just three years ago. This growth has been driven by client demand with 69% of retail investors and 76% of institutional investors having interest in ESG investing. The survey revealed that 74% of UAE investors with a values objective would be willing to give up some return in exchange f...

dnata one of the world s leading air services providers has further enhanced its global operations by launching a dedicated inflight retail centre of excellence. The new specialist retail unit will deliver tailor-made on-board retail programmes and innovative solutions for airline customers supporting them to maximise on-board ancillary revenue and enhance passenger satisfaction. The addition of a retail-focused unit to its organisation cements dnata s credentials as a truly end-to-end inflight and airport service provider. The move will align global technology innovation strategy and planning supporting dnata s existing retail programmes and ensuring world-class delivery. dnata will provide airline customers with a comprehensive suite of off-the-shelf services from product development digitalised sales channels and technological solutions through to cabin crew engagement product design and accounting. b...

Marakez one of the largest mixed-use developers in Egypt and a subsidiary of leading Saudi retailer Fawaz AlHokair Group has announced the opening of its new 64 000-sq-m retail destination - Town Center. Located at the busy intersection of the Ring Road Ismailia-Cairo Road and in close proximity to the new Adly Mansour metro station and Salam Bus Station the key neighborhood centre has more than 25 000 sq m of gross leasable aream stated Marakez which started work on the E 260 million ( 16.6 million) project in August last year. The Town Center which boasts a variety of retail outlets for fashion cosmetics electronics home accessories and appliances anchored by Carrefour Mostafa El Sallab LC Waikiki Active and several other brands will be catering to more than 2 million people who live and work within the area. Speaking at the launch Marakez CEO Bas...

Microsoft and Cooler Screens a retail technology provider have announced a multi-year collaboration focused on bringing an immersive digital experience to brick-and-mortar retail environments. Through the collaboration Cooler Screens will work with Microsoft to scale the delivery of its immersive digital media and merchandising platform hosted on Microsoft Azure to retailers and product brands. The companies will also explore additional integration opportunities to deliver enhanced experiences to customers. Cooler Screens retail technology replaces traditional cooler doors with IoT enabled high-resolution smart screens which use sensors both outside and inside of the coolers to track inventory and product placing. The solution uses identity-blind data from consumer interactions combined with external data like weather to deliver more personalized experiences. We are thrilled to collaborate with an indust...

Lootah Real Estate Development one of the region s most prominent real estate developers today (October 28) broke ground on Ewan Retail its new 1 400-sq-m lifestyle retail hub coming up at Ewan Avenue located in Dubai Investment Park (DIP). Lootah Real Estate Development (Lootah) on October 28 has broken ground on Ewan Retail its new lifestyle retail hub in Ewan Avenue located in Dubai Investment Park (DIP). Spanning 2 300 hectares DIP features a vast range of industries including food and beverage construction materials residential and hospitality properties schools hotels several shops and a hospital. It is also strategically situated near areas that significantly see a growth of thriving economic activities such as Dubai Production City Maktoum International Airport and the Jebel Ali Free Zone. The Ewan Retail groundb...

DMCC a global free zone and Dubai-based Bull&Roo Hospitality and Investments have partnered to set up a new retail and F&B concept set to launch in the second quarter (Q2) 2021 in the heart of the Jumeirah Lakes Towers (JLT) Central Park. DMCC signed a 10-year lease agreement which will entail the delivery of a bespoke three-level community retail and F&B space with Bull&Roo known for pioneering homegrown and socially responsible concepts such as Tom&Serg The Sum Of Us and Common Grounds. DMCC will manage the unique design build and delivery of the retail space whilst Bull&Roo will bring the concept to life through the interiors conceptualisation and retail operations of the space. The partnership for the contemporary retail concept will enhance lifestyle experiences for the community s 100 000 residents and visitors is part of DMCC s plans to enhance the JLT lifestyle reinforcing JLT as v...

Dubai-based dnata a leading global inflight retailer iFLEAT an airline innovation and technology leader and Thuisbezorgd.nl (part of Just Eat Takeaway.com) a top food delivery provider have launched a revolutionary pre-order inflight retail initiative in The Netherlands. The three companies innovative solution will be gradually introduced in new markets bringing high-end creative meals and snacks to airline passengers around the world. The partnership marks a significant shift in inflight food and beverage supply. Passengers flying from Schiphol Airport can already pre-order meals through the Takeaway app up to one hour before boarding. Customers can choose from a range of fresh salads poke bowls sushi platters and delicious hot meals and have their order delivered to the aircraft prior to departure. Transavia part of the Air France-KLM Group launched the service from Schiphol Airport in September with ...

The retail sector in Cairo gained momentum in the third quarter driven by increased demand from food and beverage tenants for smaller neighbourhoods and community malls with an abundance of outdoor space according to leading property expert JLL. During Q3 2020 many retail lease agreements were reverted to original pre-Covid commitments increasing the rents in primary and secondary malls by 10% and 3% respectively stated JLL in its Q3 Cairo Real Estate Market Performance report. Although new leases are being signed and retailers are proceeding with their expansion plans in specific prime areas the demand for regional and super regional malls still remain subdued. The pandemic has brought with it many implications to the real estate sector with the retail market having been affected the most. Now more than ever it is important for retailers to be able to offer a s...

Dubai s Roads and Transport Authority (RTA) is offering investment opportunities for renting retail outlets at the metro stations of Route 2020 namely Jebel Ali The Gardens Discovery Gardens Al Furjan Jumeirah Golf Estates Dubai Investment Park and Expo 2020 stations. RTA called on the business community and investors all over the UAE to benefit from this new business prospect generated by the 15-km Route 2020 which serves densely populated areas inhabited by more than 270 thousand individuals. These stations offer 40 retail outlets spanning an area of 15 860 sq ft in addition to five sales kiosks stated Abdul Mohsen Ibrahim Younes CEO of Rail Agency RTA. Metro stations of Route 2020 offer a brilliant investment opportunity for entrepreneurs as they are considered high-attraction spots for shoppers and tourists on the move noted ...

Retail Abu Dhabi s Unbox Amazing shopping promotion which ran throughout July and August across the emirate achieved record-breaking sales of more than AED2 billion in3 500 participating stores according to new data released by the Department of Culture and Tourism Abu Dhabi (DCT Abu Dhabi). Equating to weekly spend of AED250 million on eligible Visa cards alone Retail Abu Dhabi s most successful summer promotion to date has negated the impact of Covid-19 to achieve incredible year-on-year increases of31% in total spend and 23% in total transactions. The highly successful collaboration which included 21 malls and more than 3 500 retailers was driven by DCT Abu Dhabi bringing together the Department s dedicated retail platform with the Department of Economic Development Abu Dhabi (DED); Visa the world s digital payments leader; four participating banks including Abu Dhabi Commercial Bank Ab...

Abu Dhabi s 1.2-billion Reem Mall a major retail leisure and entertainment destination has announced the launch of its game changing aggregated app that will bring the entire mall ecosystem together on a singular platform thus revolutionising the experience for retailers and consumers. It marks a significant milestone in the mall s journey towards becoming the world s first fully enabled offline-to-online technology-powered life and business centre. Underpinning the innovative app is Reem Mall s commitment to engage with a new breed of digitally native buyers who are becoming increasingly aware of the convenience of online shopping said the statement from Reem Mall. As traditional malls rise to the challenge of addressing a seismic increase in online buying behavior the app encompasses innovative and customer-cent...

Volvo Cars is fundamentally modernising and upgrading the way its customers buy lease subscribe to and service their cars globally as it works towards its ambition to sell 50% of its global volume online by 2025. This was announced by Trading Enterprises the exclusive distributor of Volvo in the UAE and part of the Al-Futtaim Automotive Group. The company has announced its acquisition of Upplands Motor the Stockholm-based dealership (subject to regulatory approvals) and a planned full takeover of the retailer Bra Bil with the aim to merge the two operations with Volvo Bil its own dealership. The merged operation will enable Volvo Cars to pilot a technology-led transformation of its retail operations in its home market. Its strategy is to create a seamless online/offline experience together with its retail partners globally. This merged operation will enable Volvo Ca...

The Abu Dhabi Film Commission (ADFC) the Israel Film Fund (IFF) and the Jerusalem Sam Spiegel Film &Television School (JSFS) have reached an overarching agreement centered around goodwill and bilateral cooperation in the fields of film and television. Under the new agreement the film commissions will create an intercultural cooperation creating content with the goal of promoting tolerance education and developing a deeper cultural understanding between the Emirati and Israeli people. The agreement follows the official signing ceremony at the White House for the agreement brokered by the US in which Israel established formal ties with two Arab states the UAE and Bahrain. Mohamed Al Mubarak Chairman of twofour54 and Image Nation Abu Dhabi said: This agreement strengthens cultural ties between our creative industries as well as supports the development of Abu Dhabi s film and TV sector through the creation of new o...

The retail industry one of the hardest hit sectors during the Covid-19 pandemic will benefit hugely through the incorporation of Artificial Intelligence. When the crisis hit retailers were not prepared to make the sudden and swift changes for various reasons and had ill-prepared IT environments writes Ranjith Kaippada Director Cloud Box Technologies. Many were not equipped with online and e-Commerce platforms which would be the most appropriate way to conduct business during a lockdown. It was e-Commerce giants and local online platforms that upped their game and utilised the situation to their advantage. Artificial Intelligence (AI) was incorporated into these online platforms which meant understanding behavioural patterns and playing it out accordingly. Going forward AI that will play a vital role in many areas within retail. A...

UAE-based Azizi Developments has achieved a key milestone with the sale of 30 per cent of its recently released 700 retail units spread across its premium Dubai developments including MBR City Palm Jumeirah Dubai Healthcare City Al Furjan Studio City Sports City and Downtown Jebel Ali. A leading private developer in the UAE Azizi said it had noted a substantial uptick in its retail unit sales especially those made to UAE residents. Having noted a 60% surge in retail sales enquiries in H1 the developer is now seeing this figure grow even further with enquiries having been up over 40% in July compared to June. UAE nationals represent its most substantial customer demographic with 43% of units having been sold to Emiratis followed by Saudi investors (13 per cent) and the rest among over 17 other nationalities including investors carrying passports from the United Kin...

Capex.com a leading global broker operated by Key Way Markets has become one of the first brokers to receive a retail license from the Abu Dhabi Global Market Financial Services Regulatory Authority (ADGM FSRA). The move enables Capex.com to expand its value proposition across the Middle East while providing regional investors with a robust and secure online trading platform underpinned by a customer-centered and education-oriented approach. Established in 2016 Capex.com is an award-winning leading global online trading broker bolstered by a commitment to make online trading more accessible and informative for everyone. The global COVID-19 pandemic has resulted in a surge of Do-It-Yourself investors across the globe. Within the UAE and wider GCC region a growing community of retail investors are seeking solutions to actively managing their own portfolios and execute their own trades. Capex.com s launch in the region is ...

Dubai has launched a compliance programme to certify and recognise hotels and retail establishments F&B outlets and attractions that have implemented all public health protocols for the prevention and management of Covid-19 said a report. The initiative is part of efforts to showcase Dubai as one of the world s safest destinations as it continues to receive tourists following the city s reopening to international visitors on July 7 said a report in WAM . A verification and validation process has been established in collaboration with the Department of Tourism and Commerce Marketing (Dubai Tourism) Department of Economic Development (Dubai Economy) and Dubai Municipality for issuing the DUBAI ASSURED stamp to hotel and retail establishments F&B outlets and tourist attractions that have complied with health and safety guidelines issued in accordance with the preventive ...

Jebel Ali Free Zone (Jafza) the leading business and logistics hub has recently recorded 10.6% growth in the retail and e-commerce sector with a total trade value of AED37.6 billion despite the sudden challenges facing both regional and global economy. More than 1 000 companies from 96 countries play a pivotal role in Jafza s Retail and General Trading sector with the free zone s unparalleled infrastructure making it the ideal location for companies to set up and operate said a statement. Approximately 39% of these companies are from the Middle East 30% from Asia 15% from Europe 9% from North America 7% from Africa and 1% from Oceania. In total they employ more than 10 000 personnel and operate across combined facilities that is almost 2 million sq m. Although the region has seen a decline in business activity the shift in technology has introduced a n...

The IPO of Amlak International shares was completed on Sunday (July 5) after finalising the retail subscription tranche with coverage by individuals at a ratio of 26.90x said NCB Capital financial advisor lead manager bookrunner and underwriter for the issue. The total number of retail subscribers was 266 821 subscribing to invest SR1.17 billion at an offer price of SR16 per share. The institutional tranche of the IPO had previously achieved coverage of 4.98x. The successful completion of the offering saw total coverage of 7.67x for the first IPO to take place in the kingdom since severe market disruption at the end of March. For the first time in the local market the IPO roadshow was conducted remotely with investor presentations and meetings all staged on virtual platforms. Abdullah Al Sudairy CEO of Amlak International ...

NCB Capital financial advisor lead manager bookrunner and underwriter for Amlak International s IPO announced that the retail subscription period for 2 718 000 shares offered for IPO at a price of SR16 ( 3.8) per share will start today (July 2). The subscription period will last for four days including the last day for closing the subscription which is July 5. The receiving agents (Saudi Investment Bank National Commercial Bank Al Rajhi Bank and Bank Al Jazira) will provide the platforms needed by investors within the receiving agents branches and electronic channels to receive subscription requests. The receiving agents platforms will include their websites ATMs and telephone banking services which will allow individual subscribers to participate in the IPO and take advantage of the investment opportunity provided by the listing of Amlak International on the Saudi Stock Exchange (Tadawul). b...

Microsoft Corp recently announced a strategic change in its retail operations including closing Microsoft Store physical locations while its retail team members work remotely and at Microsoft corporate locations. The retail team members will remotely providing sales training and support. Microsoft will continue to invest in its digital storefronts on Microsoft.com and stores in Xbox and Windows reaching more than 1.2 billion people every month in 190 markets. The company will also reimagine spaces that serve all customers including operating Microsoft Experience Centers in London NYC Sydney and Redmond campus locations. The closing of Microsoft Store physical locations will result in a pre-tax charge of approximately 450 million or 0.05 per share to be recorded in the current quarter ending June 30 2020 a company statement said. Our sales have grown online as our product portfolio has evolved to largely digital of...

Adnoc Distribution the UAE s largest fuel and convenience store retailer has been named the No 1 retail brand in the region in the Forbes Middle East Top 100 Companies 2020. Compiled of the largest and most successful listed companies in the region the validation comprises in-depth research and data from all stock exchanges in Arab countries and analysis of market value sales assets and profits. Adnoc Distribution ranking at number 52 overall is one of 21 UAE companies to be listed with GCC companies accounting for 90% of the total 100. It is an honour to be recognized as the number one retail brand in the region testament to the hard work we do every day to deliver convenient and accessible fuel and convenience retail to customers said Ahmed Al Shamsi Acting CEO Adnoc Distribution. TradeArabia News Service ...

Samsung Electronics has announced the expansion of its award-winning lifestyle Home Entertainment portfolio with the addition of The Terrace its first outdoor 4K QLED TV and accompanying soundbar. The Terrace is a Samsung Smart TV that is specifically designed to bring the full indoor entertainment experience outside. Available in 55- 65- and 75-inch models The Terrace fits perfectly with any outdoor living space and delivers Samsung s industry-leading QLED 4K display technology and Smart TV features. Designed with weather in mind with an IP55 rating The Terrace s display boasts weather-resistant durability against water and dust and comes fitted for easy installation outdoors across a variety of settings. Today new lifestyle habits and trends are evolving faster than ever before. Consumers are using screens to work from home exercise using online platform stay in touch with loved ones and engag...

Leading Dubai master developer Nakheel said its retail arm has launched a contactless pick-up service at its retail destinations - Nakheel Mall The Pointe and Ibn Battuta Mall - giving more customers instant access to over 700 retailers and restaurants while social distancing. However supermarkets and pharmacies are excluded from this service. Nakheel Malls pointed out that Call Come Collect was a quick convenient way to buy a wide range of goods takeaway meals and Ramadan treats with no booking or collection fees and an average call-to-collection time of 30 minutes. It operates daily from 12 noon to 9 pm. On its new service Nakheel Malls said the process was very simple - Customers place their order by calling the shop or restaurant directly before collecting their items from a designated drive-through pick-up zone. Once contactless card payment is made a dedi...

Abu Dhabi Department of Economic Development (ADDED) has issued a circular to owners and managers of licensed commercial industrial and tourism facilities on the preventive health and safety guidelines in the workplace as part of the precautionary measures issued by the National Emergency Crisis and Disaster Management Authority to curb the spread of Covid-19. The circular focused on six main directives related to employees operating at companies preventive measures for the wholesale and retail sales and marketing departments along with other measures for the transport sector financial services construction manufacturing and utilities as well as additional measures for the catering and hospitality sector. It emphasises the extreme necessity to allow only those employees in the age group of 18 to 55 years - with good health conditions and free from all chronic diseases and disabilities - for duty. ...

LG Electronics (LG) once again demonstrated its product design prowess with a grand total of 19 accolades at this year s Red Dot Design Awards including the Best of the Best honor for its 65-inch GX Gallery series OLED TV (model 65GX). The Red Dot Best of the Best winner in the product design category features LG s luxurious gallery design which enables the art-inspired slender TV to sit flush on the wall offering new decorating and installation possibilities. And like most other 2020 LG OLED TVs this Red Dot winner delivers an incredible viewing experience with the new α (Alpha) 9 Gen 3 AI Processor unmatched color expression and infinite contrast of OLED. The Red Dot Design Award is one of the three most prestigious professional design competitions in the world. This year some 6 500 products from 60 countries were submitted for the jury s consideration. In addition to the LG 65GX Red...

The UAE s National Corporation for Tourism & Hotels (NCTH) said that tenants of retail shops and restaurants at its hotels will be exempted from rents for three months according to a media report. The move comes as part of NCTH s support for the country s precautionary and preventive efforts to contain the spread of coronavirus COVID-19 its chief was quoted as saying by state news agency Wam. Sheikh Hamdan bin Mubarak Al Nahyan chairman of NCTH said: At NCTH we support every effort aimed at serving the nation its people and residents and protecting health and safety of the community. All our hotel rooms will be put at the disposal of the call for national duty. ...

Bahrain Real Estate Investment Company (Edamah) the real estate investment arm of the kingdom s sovereign wealth fund has issued a waiver of rent for all its food and beverage (F&B) and retail tenants for March as a goodwill gesture in view of the new Coronavirus (COVID -19) situation. Chief Executive Officer (CEO) of Edamah Amin Alarrayed said: We see it as our duty at Edamah to work alongside our tenants to offer the much-needed support during this difficult time. For this reason and as a gesture of goodwill we are issuing a one-month moratorium on the rents of our F&B and retail tenants to mitigate any business downturn. We will be closely monitoring the situation and want to reassure our tenants that their continued success is of utmost importance to us. As such we will reappraise the situation after this period with the business health of our F&B tenants in mind. Edamah i...

Abu Dhabi-based retail group Lulu said its real estate arm Line Investments & Property has introduced Laka (For you in arabic) Gift Card that gives customers a wide range of shopping options from regionally and globally renowned brands and products across eight shopping malls in Abu Dhabi and Al Ain. With a validity of six months from date of purchase the Laka 4U gift card is available in Dh50 and Dh100 ( 13.6 and 27.2) denominations at selected outlets said the statement from Lulu. The participating malls include Al Wahda Mall Khalidiyah Mall Mushrif Mall Madinat Shopping Center Al Raha Mall - Abu Dhabi and Mazyad Mall in Abu Dhabi as well as Al Foah Mall and Barrari Outlet Mall in Al Ain it stated. Wajeb Al Khoury the director of Line Investments and Property said: Loyalty and gift cards gives us an indication of what our customers really want and helps us pla...

Digitization enables SMEs to sell their products on multiple overseas e-commerce websites offering them access to the same customer groups as larger more established players a report said. Digitization also extends to inventory through the Internet of Things (IoT) technology where SMEs can leverage planning tools particularly to manage customer demands and fulfilling shopper expectations when it comes to seeing stock availability added the report by FedEx a global logistics provider. This is one area where SMEs can collaborate with their logistics service provider to boost their e-commerce potential throughout the year especially during the heavy-traffic peak seasons. Logistics service providers can help SMEs to build a solid integrated supply chain that can provide value-added services such as package tracking and to identify technology or process gaps. Adoption of technology by SMEs in their retail operations and process...

The UAE s banking system increased the total value of financial facilitations provided to retail commerce to Dh50.4 billion ( 13.72 billion) during the first nine months of 2019 according to statistics issued by the Central Bank of the UAE. At the end of September 2019 the value of financial facilitations provided to retail commerce grew by 5.4 percent or Dh2.6 billion compared to the end of December 2018 said a Wam news agency report. The activity witnessed by the sector is in line with figures recently published by the National Economic Registry which showed that the number of recent licences issued in 2019 exceeded 40 000. Financing the retail sector accounts for around 32 percent of the total facilitations received by the country s commercial sector from January to September 2019 totalling Dh157 billion. Statistics from the Cent...

IF YOUR clients are regular visitors of the French Riviera they will certainly be excited at the prospect of a newly opened outlet shopping about an hour s drive away. The recent opening of The Luxury Mall Outlet Sanremo is the perfect excuse to slip into Italy s Liguria region whenever visiting Cannes or Nice. The Mall Luxury Outlets is a renowned Italian company specialised in offering exclusive luxury shopping experiences. The lush green hills of the Tuscan countryside provide a picturesque setting for The Mall Firenze while the Ligurian hills make the backdrop for The Mall Sanremo. The Mall Sanremo rises from the medieval town of Sanremo like a temple of luxury but price-happy retail worship. While some of the stores in the mall are available on the Croisette in Cannes the outlet stores in The Mall Sanremo offer more affordable options from the very same brands. This makes a visit to the mall across the French-Italian border a mu...

Dubai-based Lootah Real Estate Development (Lootah) a leading real estate developer has launched its latest retail lifestyle project located near Ewan Residences its property in Dubai Investment Park (DIP). The new leisure area will be composed of several shops and dining options. Its retail shops will be located on the property s two levels with a total size of 1 400 sq m. It will also have several food trucks that will be placed on the opposite side of the road. And will be accessible to all the residents of DIP. Saleh Abdullah Lootah CEO of Lootah Real Estate Development said: We are excited about the Ewan - retail project as it reflects a unique community experience that consumers are seeking for a convenient yet contemporary lifestyle. We are confident that through this retail initiative Lootah will be able to provide shopping and dining options within the community for the growing demand of residents in Dubai Investment ...

AOC a display specialist has appointed Techxhub as its retail distributor for the Middle Eastern markets. Techxhub will be responsible for distributing both AGON and G-Line series of AOC gaming monitors across the region. The Gaming market in the region is on upswing for past years and is expected to follow the growth trajectory in the coming years also. A recent study by Newzoo reveals that the Middle East & Africa games market will reach total revenues of 4.8 billion in 2019 and is expected to reach 6.0billion by 2021. Carol Anne Dias regional sales director Middle East & Africa at AOC said: We are glad join hands with Techxhub as they specialise in gaming industry and our monitors comprehend their range of gaming accessories. Retail market is key to our growth strategy and with this partnership we intend to expand our footprint and maximize our market share in the retail segment across the region. &l...

Image Nation Abu Dhabi a top media and entertainment company and Saudi Arabia-based Vision Entertainment a company specialising in creating locally-inspired content have partnered to produce an animated television series about dates. The series will showcase the rich cultural and historic treasures of Saudi Arabia and the wider Arab region reported Emirates news agency Wam. Ben Ross chief content officer at Image Nation Abu Dhabi said: We are excited to partner with Vision Entertainment on this great project. The region is home to a huge consumer audience with a major appetite for locally made content that represents and resonates with them. Through this partnership we are attracting top talent and creating dynamic content. The project tentatively titled Tamr is currently in its pilot production with the full production of the series slated to begin in 2020. The partnership with ...

Arabian Automobiles the flagship company of the AW Rostamani Group and the exclusive dealer for Nissan in Dubai Sharjah and the Northern Emirates unveiled its largest Nissan Retail Concept showroom on Sheikh Zayed Road. The showroom will focus on delivering exceptional customer service through a seamless integration of all touchpoints in the customer journey as well as on innovation and bringing new customer experiences thereby consolidating the digital transformation that characterizes every aspect of living today said a statement. Thierry Sabbagh managing director - Nissan Middle East said: Arabian Automobiles Company has been our partner for over 50 years and the opening of the Retail Concept showroom marks a major milestone in our long-standing partnership. This new and innovative retail concept reflects the diversity in customer expectations and aims at improving customer service and ensuring a globall...

Abu Dhabi Airports has awarded two retail unit spaces in the upcoming Midfield Terminal Building (MTB) project to the Lulu Group a diverse conglomerate headquartered in Abu Dhabi with a strong retail presence in the UAE the GCC and globally. The Lulu Group reached an agreement with Abu Dhabi Airports to set up a specialist gifting retail space and a dedicated non-food department store encompassing a total of 1 833 sq m area in the MTB at the Abu Dhabi International Airport. Lulu has been added to an exciting line up of brands at the Midfield Terminal which includes 28 000 sq m of retail space for duty free shopping dining relaxing and entertainment catering to the diverse needs of Abu Dhabi International Airport s passengers said the statement from Abu Dhabi Airports. This is a result of Abu Dhabi Airports commitment to developing strategic partnerships with local industry within the UAE ensuring that local products...

Emirates has reinvented its inflight retail offering by launching EmiratesRED. The new collection offers customers on board not only a wide selection of duty and tax free products but also the ability to purchase unique experiences in Dubai and beyond as well as products from Emirates Official Store. The revamped offering has been welcomed by customers as the airline has seen a 23 per cent increase in sales since its launch a month ago. EmiratesRED TV In what is considered a first for the airline industry Emirates has also introduced a dedicated shopping channel on its award-winning inflight entertainment system ice called EmiratesRED TV. The shopping channel hosted by Andi Peters introduces some of the experts behind the products available to purchase on board. This includes interviews with Roja Dove founder and creator of Roja Parfums; Julien Levy co-founder of Dr. Levy Switzerland; and David Crisp CEO of B...

Leading Dubai developer Nakheel has officially opened its new retail complex and multi-storey car park at Dragon City following the revamp work thus adding new shops better access and more convenience to customers. The Dh169 million ( 46 million) expansion work was carried out to mainly meet the growing customer demand at Dragon Mart where more than 1 700 Chinese tradesmen and women operate 5 000 shops restaurants and entertainment outlets. The four-level complex has now around 150 shops and kiosks across 118 000 sq ft of ground floor retail space with 900 parking bays above. Nakheel Chairman Ali Rashid Lootah said the opening of the new retail complex at Dragon City is aimed at bringing a more diverse range of shops quicker access and greater convenience to the 40 million people who visit each year. Sun Tour one of Dragon Mart s biggest and longest-standing tenants is occupying the...

Sabre Corporation a leading technology provider at the centre of the business of travel has acquired Radixx a leading airline retailing software provider with an established presence in the low cost carrier (LCC) space for 110 million including payments to debtholders using cash on hand. LCCs have grown twice as fast as full-service carriers over the past five years and now total nearly 30 per cent of global passengers boarded annually. Sabre expects the acquisition to help the company offer retailing distribution and fulfillment capabilities to serve this rapidly expanding market. Radixx s signature products are a best-in-class LCC passenger service system (PSS) and internet booking engine (IBE). Radixx is expected to generate approximately 20 million of revenue in 2019. Started in 1993 Orlando-based Radixx was built to leverage the technology industry s rapid advances with a focus on cloud-based ai...

Hala China s second China Film Week in Dubai set the stage for the launch of a new Chinese film distribution platform witnessed record red-carpet attendance and featured sell-out screenings of Chinese films at Roxy Cinemas last week. At the inaugural China-UAE Film and TV Industry Forum on September 30 Hala China and Wisdom House Cultural Industry Group signed a memorandum of understanding (MoU) that will connect companies in Dubai and China to promote cultural technological and academic exchanges through conferences events and activations. Moreover the forum witnessed a collaboration between Wisdom House Cultural Industry Group and China (Zhejiang) Film and Television Industry International Cooperation Zone - China s first national film and television platform - that aims to enhance intercultural exchange with the Middle East by introducing films and TV shows from China into the region. The first three productions...

The Emirates Institute for Banking and Financial Studies (EIBFS) and the Recognized National Development Committee (RNDC) have launched first National Qualification Level 5 Award in Certified Retail Banker (CRB). The Emirates Institute for Banking and Financial Studies (EIBFS) and the Recognized National Development Committee (RNDC) a subcommittee comprising representatives of leading banks in the UAE have launched first National Qualification Level 5 Award in Certified Retail Banker (CRB). This was announced at a meeting attended by RNDC representatives that comprises representatives of leading local and international banks in the UAE including RAK Bank Emirates NBD Union National Bank Sharjah Islamic Bank Commercial Bank of Dubai Citi Bank Standard Chartered and ADIB. This award aims to provide knowledge skills and competencies required for retail banking professionals to deliver effective sales and operations services to th...

Premium Japanese watch manufacturer Citizen has announced plans to open several retail outlets across the UAE as part of its regional expansion strategy. The group recently opened its new kiosk at Sharjah s Sahara Centre. The exclusive boutique will offer a comprehensive range of models including Citizen Eco-Drive Promaster Satellite Wave GPS and Citizen L for ladies among various other affordable price range collections said a statement. The decision to open a kiosk in the bustling and vibrant Sahara Centre located on the Dubai-Sharjah highway is in line with the brand s expansion strategy to establish a strong visual presence within the retail environment. Its aim is to cater to the evolving preferences and shopping behaviours of modern customers. In addition to the traditional bricks-and-mortar concept Citizen also b...

Dubai s retail sector is undergoing a major transformation with the rise of e-commerce and evolving customer preferences shaping a new retail logistics industry said professional services firm JLL in a new report. A wave of innovative new real estate solutions in the logistics sector are creating alternative investment opportunities added JLL s new report titled Redefining Retail Logistics the Dubai Experience launched at Cityscape Global 2019 a major real estate event. As a global leader in both retail and logistics Dubai is well placed to leverage the retail industry s rapidly changing dynamics including rising e-commerce new disruptive technologies and evolving consumer tastes. To take full advantage of these trends retailers are addressing the challenge of fulfilling increasing demand for online delivery while balancing an oversupply of traditional retail space. The a...

Central Trading Company the authorised distributor of Michelin within Dubai and Northern Emirates has signed an agreement with AutoPro to sell Michelin tyres across its stores in Dubai and Northern Emirates. This cooperation includes supply of Michelin branded tyres with Emirates Authority for Standardisation and Metrology (Esma) required RFID tags to the vast network of AutoPro service centres located in Dubai and Sharjah said a statement. Naser Shashaa regional director Michelin Middle East said: We are constantly looking at expanding our presence in the markets we operate and facilitate the access to Michelin Tyres one of the world s most renowned brands. AutoPro is a trusted name for professional automotive services and we are therefore very excited with this partnership. In addition to existing Michelin point of sales our customers in the emirates will now have convenient access to our prod...

As in other markets the main risk of technological disruption for retail banks in the GCC is changes in customer preference said S&P Global Ratings in a new report. This is the conclusion we drew from our four-factor analysis of a banking system s technology regulation industry and preferences (TRIP) which we are incorporating in our ratings on banks in the region said Mohamed Damak S&P Global Ratings credit analyst commenting on the report titled Tech Disruption In Retail Banking: GCC Banks Are Catching Up As Clients Become More Demanding published on RatingsDirect. Regulatory risk is low because policymakers are conscious of the extreme importance of local banking systems in the region and the need to keep them safe from potentially disruptive unregulated competition. Technology and industry structure present a moderate risk of disruption he added. The digitalization ...

The Indian government is preparing to reform domestic fuel marketing in India opening up this lucrative sector to foreign oil companies especially those in the Gulf according to the Emirati news agency Wam . To set this process in motion the Ministry of Petroleum and Natural Gas has prepared a cabinet note which will end rules that essentially restricted fuel distribution in India to domestic oil companies. Most of them are state-run energy enterprises said the report. The note which Wam has seen follows recommendations by a committee formed in March to reform India s huge domestic fuel distribution system. The process is part of Modi government s efforts to introduce the next wave of economic reforms in the country following its new mandate in elections held earlier this year. The committee which submitted its report in May argued that the net...

Azizi Developments a leading real estate company in the UAE has added retail units to its portfolio with the launch of sale of 329 retail units across all of its Dubai developments. Through Azizi Retail Azizi Developments division for outlets the retail spaces are embedded into its master-planned communities and residential towers adding leisure shopping and eatery amenities and creating a bustling social space with a strong potential for business profitability. Farhad Azizi CEO of Azizi Developments said: Retail spaces enhance our communities and are a lucrative investment that our research attributes to growing investor interest in strategically placed brick-and-mortar outlets. It is a mutually beneficial integration whereby our residents benefit from lifestyle-enhancing leisure and convenience options while commercial entities have a bustling environment to conduct prosperous businesses in. Azizi Develop...

Almosafer a leading travel brand in Saudi Arabia has revealed that it will open 25 new retail branches by the end of this year as part of its commitment to revolutionize the travel booking experience in the kingdom. With its new omnichannel approach Almosafer is taking its digital knowledge into interactive physical spaces and adding the human element to give customers the choice and freedom to book their travel exactly in the manner they want. To equip its retail team with the expertise they need to help Saudi s with their travel plans Almosafer has created a specialised recruitment process focused on attracting Saudi s multi-talented youth and shaping a new generation of male and female travel advisors. Almosafer Academy will develop and certify travel advisors through an intensive 10-week recruitment training programme which will equip the workforce with the skills they need to become the new generation of speci...

The National Bank of Bahrain (NBB) has appointed Subah Abdullatif Al Zayani as head of retail banking. Al Zayani will now lead NBB s ongoing efforts to innovate its retail operations in order to gain more market share and further elevate the customer journey and enhance the delivery of market-leading financial products and services across its digital platforms and branch network which remains the largest in Bahrain. Al Zayani brings to NBB more than 12 years of retail banking experience having held a number of senior positions at some of Bahrain s largest local and regional banks. Most recently he served as deputy head of retail banking at Kuwait Finance House-Bahrain. Commenting on the appointment Jean-Christophe Durand CEO of NBB said: We are delighted to welcome Subah Al Zayani to the NBB family. A key pillar of our transformation lies in continuing to enhance grow and differentiate our retail offering and th...

First Bahrain Real Estate Development Company said it has appointed Alghanah Group for the construction of its upcoming retail project in Seef area of the kingdom. Building on the success of El Mercado First Bahrain s mixed-use retail and residential project the company is now activating its holdings in Seef area with another open-air commercial project. The new development is the first phase of a project which will feature over 79 000 sq ft of premium retail space built on 114 000 sq ft of land just across the street from the City Centre Mall said the statement from First Bahrain. Designed to serve the surrounding residential area the site will feature a mix of cafes restaurants entertainment and retail shops that will offer a unique experience through a mix of drive up and drive thru outlets featuring terraced views and outdoor seating it stated. Annoucing the awarding of the contract CEO Omar Altemiemy ...

IT s no secret that shopping is one of the key activities and motivations for the outbound Middle East traveller and retail destinations especially in Europe are keen to get a share of this market. This summer and Eid Al Adha present your clients with retail ideas that will be a hit for the whole family not just the shopping addicts. BICESTER VILLAGE SHOPPING COLLECTION The Bicester Village Shopping Collection comprises 11 destinations across Western Europe and China: London Paris Shanghai Milan Barcelona Madrid Brussels Antwerp Cologne Düsseldorf Munich Frankfurt and Suzhou. The Collection by Value Retail is unique in its unprecedented brand mix beautiful settings cultural richness remarkable service and savings on the recommended retail price of up to 60 per cent. Each Village plays host to the world&rs...

Sawa Rights Management (SRM) has launched Insight TV a leading 4K UHD HDR broadcaster and producer of native UHD content across Mena on My-HD the region s first and only low-pay direct-to-home HD Pay-TV platform. Subscribers across Mena will now be able to watch Insight TV s line-up of thrilling content which features trending topics and behind-the-scenes stories of global social influencers against a backdrop of stunning locations from around the world can now be enjoyed by My-HD viewers across the Mena. Carmen Chen CEO My-HD said: Since our launch in 2012 we continue to strive to bring the best content from around the world to our subscribers. Insight TV is a big draw for millennials because its shows reflect the evolving values of this demographic and covers issues and themes that are important and relevant to them. We are committed to delivering our inspirational and topical content to viewers...

Masterchef The TV Experience is finally open for business and that business is serving up authentic MasterChef dishes in a deformalised dining experience at the world first TV-to-plate dining concept. MasterChef The TV Experience features a specially curated menu of 36 dishes culled by head chef Margarita Vaamonde-Beggs from more than 120 champion and finalist recipes from various international productions of the hit global series. Housed in the all-new Millennium Place Marina hotel in Dubai Marina MasterChef The TV Experience a partnership between UAE property developer and fast-growing F&B specialist The First Group and Endemol Shine Group the global content creator producer and distributor boasts indoor and outdoor seating for up to 160 covers. With every menu item a famous masterpiece in its own right guests can indulge in an array of dishe...

Digitalization is already transforming retail banking said S&P Global Ratings (S&P) in a new report highlighting that the opportunities and threats for banks from tech disruption relate to the state of technology regulation the banking industry s readiness and customer preferences. S&P believes today s traditional banks have no other option than to digitize their business models. If they execute that well they can better defend and potentially expand their franchises and possibly offer new products or services. If not their market positions and profitability could shrink. Digital solutions will not only allow banks to attract more clients and open up new revenue channels but also become more efficient all keys to succeeding in tomorrow s digital environment. Such considerations form part of its assessment of banks business positions. In S&P s view the increased transparency and further c...

Samsung Electronics said that beginning May 14 all 2019 Samsung Smart TVs and select 2018 TV models with a firmware update will feature the all-new Apple TV app in more than 100 countries and offer AirPlay 2 support in 176 countries. Samsung customers are now able to enjoy Apple TV channels and iTunes movies and TV shows on Samsung Smart TVs. For the last decade Samsung has been at the forefront of offering the broadest selection of content available to consumers on our Smart TV platform. said Won-Jin Lee executive vice president Visual Display Business at Samsung Electronics. As the first TV manufacturer to integrate the Apple TV app on a Smart TV platform Samsung continues to offer our customers incredible value and access to the Apple TV app experience on the largest screens available today. Fully integrated into Samsung s Smart TV platform users can simply select the Apple TV app icon to...

One technology that is touted to disrupt retail is the Internet of Things (IoT) which if it is used in the right way can build a competitive differentiation said an industry expert. Retail sales in the Middle East is booming. Customers are getting smarter about their shopping choices and their expectations of the retail experience are accelerating quickly. Non-store retailing which includes online shopping direct selling mobile internet social media and home shopping is expected to increase at a rapid pace meaning high streets are taking the hit and it s going to take something special to get shoppers back into stores. Technology can certainly help in enticing customers into stores and plugging the growth gaps retailers are suffering. One technology that is touted to disrupt retail is the Internet of Things (IoT) which if it is used in the right way can build a competitive differentiation. According to Aruba research early adopter...

In business as in love trust is everything. With consumers anticipating online companies to provide quality products beyond advertised timeframes there is a greater need for quality products and discounts which are applicable all year round to foster good and long consumer relationships. In a scenario where consumers are increasingly purchasing online thanks to convenience 24/7 storefronts and a wider product selection trust assumes more importance than ever. In this current set of things Shopinc.com has emerged as a key online player in the UAE market that believes in fostering long term relationship with consumers by offering quality products and discounts which are applicable all year round. Over the next three years e-commerce sales are likely to nearly double with the Middle East e-commerce market projected to be worth Dh179 billion ( 48.6 billion) in 2022 up from Dh98.8 ( 26.9 billion) in 2018 according to a report by Fitch Solutions...

UAE-headquartered Truebell a leading GCC importer of fast-moving consumer goods (FMCG) is adding a wide range of new products to its existing portfolio of over 10 000 products. The retail and food services division of the company has entered into exclusive distribution agreements with a number of leading brands including Yorkshire tea La Rose Noire Nocciolata and Sacla to begin distributing their products during the second quarter of 2019 said a statement. Leading retailers across the UAE such as Spinney s and Carrefour will be stocking up on products such as OHO cereals from Lithuania Yorkshire Tea (UK) and Bulla Dairy from Australia it said. Meanwhile our food service division will see the launch of a wide variety of products from Sacla s antipasti range Rana frozen pasta and Nocciolata organic chocolate paste all of which are from Italy as well as baked sweet treats from The Cookie Tree (USA) Tor...

LG Electronics a leading technology company has unveiled its premium 2019 TV lineups including new OLED and NanoCell TV series featuring ThinQ AI technology at the recently concluded InnoFest MEA in Seoul South Korea. The new TV models deliver upgraded AI picture and sound quality underpinned by the company s advanced second-generation a (Alpha) 9 Gen 2 intelligent processor and deep learning algorithm said a statement from the company. With the new algorithm LG s TVs will offer optimised picture and sound by analysing source content and by recognising ambient conditions it said. LG s premium range for the MEA market is headlined by the flagship OLED TV lineup which offers a variety of screen sizes: W9 (model 77/65W9) E9 (model 65E9) C9 (model 77/65/55C9) and B9 (model 65/55B9) it added. NanoCell is LG s new premier LED brand the name highlighting the outstanding picture quality enabl...

Emirates NBD a leading bank in the region has won industry recognition for its retail banking leadership at the Retail Banker International (RBI) Asia Trailblazer Awards. At a ceremony held recently in Singapore the bank was adjudged the Asian Trailblazer of the Year Institutional as well as Best Retail Bank UAE. Emirates NBD was also highly commended in the Best Credit Scoring Innovation category for its digital personal loan application process with instant approvals as well as in the Excellence in Internet Banking category for its state-of-the-art Online Banking platform. In addition Suvo Sarkar senior executive vice president head of Retail Banking & Wealth Management Emirates NBD was recognised as the Asian Trailblazer of the Year Individual on account of his leadership and pioneering vision in driving the division s regional and global accomplishments in retail banking and digital innovation. br ...

Bank ABC is expected to launch a mobile-first retail bank in Bahrain before the end of 2019 as part of its digital strategy. The Central Bank of Bahrain has approved the new bank and granted it a licence. After the launch in Bahrain the intention is to expand into other Mena markets such as Egypt and Jordan Bank ABC said at the bank s Annual General Meeting yesterday. Bank ABC s shareholders during the AGM approved a cash dividend distribution of 3 per cent ( 0.03 per share net of treasury shares) amounting to 92.934 million. This translates to approximately 46% of the net profit for the year attributable to the shareholders of the parent. The AGM has also approved the appointment of new directors to replace retiring board members. Since the announcement of the intention for a market-making arrangement in February 2018 ABC&rsq...

Saudi Aramco a global integrated energy and chemicals company and French oil major Total have signed an agreement to develop a network of retail fuel service stations in Saudi Arabia. The 50:50 joint venture (JV) plans to invest around 1 billion over the next six years in the Saudi retail fuel market to provide motorists with premium fuels and retail services in Saudi Arabia. This is a major milestone which will help establish a quality retail fuel network in the Kingdom. We look forward to working together with our long-term partner Total and draw on their extensive experience in the retail fuel market said Abdulaziz Al-Judaimi Saudi Aramco s senior vice president of Downstream and chairman of the JV Board. He added: With this new business we aim to enhance the quality of services as well as create jobs and additional investment opportunities in the Kingdom. This JV aligns with Saudi Vision 2030 and sup...

Majid Al Futtaim a leading shopping mall and leisure pioneer has launched the region s first Retail Business School designed to build state-of-the-art learning into the company s employee professional development. The Majid Al Futtaim Retail Business School will focus exclusively on dynamic learning programmes for employees running its Carrefour operations as the company seeks to accelerate its ambitious growth plans. Around 2 500 employees are expected to benefit from professional development opportunities at the School this year. The campus which is located at its Carrefour premises in Ibn Battuta Mall in Dubai offers a modern and stylish purpose-built environment incorporating a cutting-edge Virtual Reality training room (the first of its kind known in the region) paperless classrooms a multimedia studio social spaces catering facilities and a formal boardroom. Students can also take advantage of a Digital Library while attendi...

Dubai developer Emaar said it has made significant progress in the construction of five new retail link bridges that will further strengthen road connectivity to The Dubai Mall the world s most-visited retail and lifestyle destination. Scheduled to open in February the retail link bridges connect the mall with Doha Road/Financial Centre Road said a statement from Emaar. The new bridges are part of The Dubai Mall s Zabeel expansion and are executed by Emaar with the support of the Roads and Transport Authority (RTA). At a length of over 1.78 km the elevated bridges have a total decked area of about 15 000 sq m. The longest bridge is over 765 m while the others vary in length from 120 to 582m. The bridges are buttressed by over 580 piles of varying diameter adding to their stability and strength. The bridge spans constructed and pre-assembled in Al Quoz are erected over the piers to accelerate the completi...

Oman Air has integrated the Offer and Order Management Solution (OfrMS) from TPConnects to enhance its personalised retailing capabilities and NDC enabled distribution with air and non-air ancillaries to create a unique buying experience that caters to customer s constantly changing needs. Oman Air chief commercial officer Paul Starrs commented: We are pleased to partner with TPConnects and deploying their scalable Offer and Order Management Solution (OfrMS) and NDC enabled Distribution as part of our strategy in adapting and accelerating the new era of persona-based airline retailing. TPConnects OfrMS is integrated on top of the assets (Passenger Service System Frequent Flyer Programme etc) we already have hence we are able to get NDC Certified on Level 3 and go to market in less than two months. Implementing the OfrMS and NDC standards brings the opportunity for Oman Air to package price and offer bundle and a la carte air and no...

Samsung Electronics has unveiled the next generation of its award-winning Family Hub refrigerator at the ongoing CES 2019 a major technology show in Las Vegas USA. Family Hub continues to set a new standard for connected living bringing the family together in the kitchen while freeing users up to focus on what s important to them a statement said. In 2019 with the new Family Board a communal screen that family members can interact with in a personalized way Family Hub helps foster true family connection food management and a connected home experience in today s fast-paced modern world. When we first launched Family Hub three years ago it was an app-based experience anchored in food management family connections and entertainment said John Herrington senior vice president general manager of Home Appliances Samsung Electronics America. Today we are introducing the...

Dubai Industrial Park (DI) one of the largest industrial hubs in Dubai and a member of Tecom Group has officially opened its first retail offering Sapphire Mall which has been built at an investment of more than Dh100 million ( 27.2 million). A 215 000-sq-ft retail and dining facility Sapphire Mall is the first project to be completed by Dubai Industrial Park in collaboration with Sapphire Investments. It aims to cater to residents in the destination s growing community. Abdulla Belhoul the chief commercial officer of Tecom Group joined hands with Saud Abu Al Shawareb the managing director of Dubai Industrial Park Najeeb Kadiri and Mohammed Ali Nocholy the directors of Sapphire Investments for the grand opening of the shopping mall. Speaking at the launch ceremony Saud Abu Al Shawareb said: The opening of the new mall not only serves our ambitious plans to position Dubai Industrial Park as a lucrative hub for busi...

Saudi Aramco announced on Wednesday that it is establishing a fuel retailing subsidiary. The new company Saudi Aramco Retail Company (RetailCo) will focus on expanding the network of domestic fuel retail stations in the kingdom. The company is chartered with owning Saudi Aramco s fuel retailing delivering Saudi Aramco brand positioning innovating retail experience for fuel and associated non-fuel activities and creating an agile business unit that can adapt to the retail market s changing dynamics. Integrating fully across the hydrocarbon value chain is key to capturing maximum value from our resources. We are very excited about the establishment of RetailCo. It will leverage synergies in our business model and position us to actively participate in the customer-facing segment of the downstream value chain said Abdulaziz Al-Judaimi Saudi Aramco senior vice president of Downstream. By institut...

Al Raid Group a specialist developer of retail shopping malls and leisure destinations has officially opened Al Araimi Boulevard (ABLVD) an innovative retail development concept in Muscat said a report. Located in Al Khoud the Al Araimi Boulevard has been developed at an investment of over RO100 million ( 259 million). It boasts a built up area of 187 000 sq m and provides leasable space of 75 000 sq m reported the Oman Observer . It will be home to more than 210 stores ranging in area from 70-160 sq m. It has a family entertainment centre of 6 000 sq m it stated. Al Araimi Boulevard consists of two floors providing spaces for water features fountains and other unique features like green landscaped areas. There will be 10 cinema screens and a Carrefour hypermarket which will occupy an area of 10 000 square metres. It will also be home to 20 casual dining restaurants with a food court that seats up to 1 2...

Emirates Skywards the loyalty programme of Emirates and flydubai in partnership with The Dubai Mall is giving its members five strong reasons to shop this Dubai Shopping Festival (DSF) which starts today (December 26) . 1 . Earn Skywards Miles for spends at The Dubai Mall : Emirates Skywards members can earn Skywards Miles at the rate of up to one Skywards Mile per 1 spent for all purchases over Dh100 ( 27.2) at The Dubai Mall. Members simply have to download The Dubai Mall app register for the Emaar Malls Rewards Programme link their Emirates Skywards account to the app and then scan their purchase receipts for the Miles to be credited to their account. Members can find more information about the offer on the Emirates Skywards website. With over 1 300 retail stores including 200 dining options and a host of world-class leisure attractions Emirates Skywards members can use their shopping spends at The Dubai Mall...

Moody s Investors Service (Moody s) has affirmed the long-term deposit and issuer ratings of four retail banks it rates in Bahrain as well as the senior unsecured and subordinated debt ratings. These banks are BBK National Bank of Bahrain (NBB) Bahrain Islamic Bank (BiSB) and Khaleeji Commercial Bank (KHCB). Moody s also affirmed the banks baseline credit assessments (BCA) adjusted BCAs Counterparty Risk Assessments (CRAs) and Counterparty Risk Ratings (CRRs) for these four institutions. However only BBK NBB and BISB s long-term ratings were changed to stable from negative by the top ratings agency on December 17. The outlook on KHCB s long term ratings still remains negative. Moody s decision is mainly driven by the affirmation of the Bahraini government s B2 issuer rating and the change in outlook to stable. The banks BCAs are already at the govern...

Retail sales across four Gulf countries are projected to increase by more than 24 billion over the next five years with the UAE expected to lead this trend with an estimated growth rate of 16 per cent according to new research from Euromonitor International. The report reveals that Kuwait Oman Saudi Arabia and the UAE are all set to capitalise on the rise of consumerism thanks to favourable demographics a rise in population and a strong growth trajectory in tourism and per capita income. The figures have been released ahead of The Retail Summit set to take place on February 13 and 14 at the Atlantis Hotel in Dubai UAE gathering 800 of the world s most prominent retail leaders industry stakeholders and experts. The two-day summit to be held under the patronage of HH Sheikh Mohammed Bin Rashid Al Maktoum Vice President and Prime Minister of the UAE and Ruler of Dubai has received prestigious endorsement w...

The Department of Economic Development (DED) and Dubai Festivals and Retail Establishment (DFRE) have jointly announced the 2019 Retail Calendar showcasing 18 events over 247 days versus 12 events over 178 days in 2018. Featuring even more city-wide events activations and experiences throughout 2019 the calendar is strategically catered to provide active stimulus to resident and tourist consumer spend on shopping throughout the forthcoming year. Additionally aimed at prioritising wider and inclusive sector participation thereby extending the economic benefits of the initiative to a wider base the 2019 Retail Calendar offers a reduction in fees for all small and medium enterprises to enable dynamic adaptation to the ongoing disruptions impacting retail whilst retaining competitiveness in the global environment. The Retail Calendar is reflective of strong and successful collaboration between both government departments (DED a...

More than 80 speakers will talk about how digital disruption and shifting consumer expectations are driving a transformation in retail at The Retail Summit an upcoming new business event for C-level retailers in Dubai UAE. Beauty powerhouse Huda Kattan will join billionaire entrepreneur and Virgin Group founder Sir Richard Branson in headlining the summit taking place at Atlantis The Palm on February 13 and 14 2019. The founder and CEO of Huda Beauty one of the most successful and fastest growing new brands to be launched this decade will be accompanied by her sister Mona Kattan co-founder and global president of the cosmetics line who will take to the stage of The Retail Summit to discuss how their early adoption of social media platforms such as YouTube and Instagram helped support their stratospheric success. Held in partnership with the Dubai Chamber of Commerce and Industry and Meydan One The Retail Summit will bring toge...

Tickets for the Bahrain International Airshow (BIAS) - the fastest growing airshow in the Middle East - are available at a number of Batelco Retail Shops and online on BIAS website. Once again Batelco is the headline sponsor of the Bahrain International Airshow 2018 which is organised by the Ministry of Transportation and Telecommunications (MTT) and the Royal Bahraini Air Force in cooperation with Farnborough International. The public part of the show will take place at the Sakhir Airbase from November 14 to 17 extended for an additional day this year in order to allow more families the opportunity to enjoy the activities. For five hours the sky above the Sakhir Airbase will host a spectacular air display. Pilots are set to showcase breath-stopping skills testing the limits of some of the world s most legendary aircraft. From military jets to big civilian airliners and historic classics there is a plane to thrill everyone ...

Samsung Electronics Egypt is today (October 24) celebrating five years of producing Made in Egypt high-quality TVs. The factory in Egypt is Samsung s first of its kind unit in the Middle East and Africa (MEA) applying state-of-the-art technologies to render cutting-edge QLED TV sets said a statement. With total investments of 270 million Bani Suef s factory is one of Samsung s 14 worldwide factories specialised in TV production it said. Engineer Kassem Hassan head of the TV Department at Samsung Electronics Egypt said: Our factory in Bani Suef is a remarkable success story from the onset. The factory has been established and inaugurated in 2013 to produce a wide range of locally made product lineup starting from 24 and up to QLED and 82 TVs he said. Hassan said: Moreover the factory invests heavily in the skill develo...

The Avenues - Bahrain the first commercial and leisure mall of its kind in the kingdom with a unique 1.5-km-long waterfront has won major recognition at the Arabian and African Property Awards 2018-2019 ceremony held in Dubai. The Arabian and African Property Award is one of the most prominent real-estate competitions in the region where many real-estate developers battle for top honours in various industry categories. The final results of the award were announced at a ceremony held recently in Waldorf Astoria Dubai Palm Jumeirah covering multiple categories including developers architects agents and interior designers said a statement from Mabanee the owner of The Avenues - Kuwait. Mabanee had earlier received the Best Leisure Development Award from the Arab chapter of International Property Awards for phase IV of The Avenues. It has also received the Best Retail Development award in 2011 as well as Platinum and Gold Awards by...

UAE-based Cofely Besix Facility Management (CBFM) said it has been awarded the contract to provide facilities management services for two of Al Ain s retail developments - Al Jimi Mall and Shabahat Plaza. Al Jimi Mall is a shopping and entertainment location in the heart of the city and currently has a gross internal area (GIA) of 44 000 sq m with an annual footfall of 8 million visitors while Shabahat Plaza is a community-based retail experience located 10km south of Al Ain city centre. Al Jimi Mall is currently undergoing a massive expansion and renovation programme to add a further 65 stores including an 8-screen VOX cinema and a retail park to the existing 94 outlets bringing the total leasable area to 76 000 m2. Expected to be completed by the year-end the expansion will include a new outdoor retail park family dining and coffee shops as well as an event plaza and an additional carpark accommodating more ...

The final stretch of 2018 approaches. For parents of young children this means that lunch boxes and homework are back. It is also the season for many of us when trees start to change colour before the arrival of the cold season. It is also the time when entertainment companies try to entice viewers back to the sofa to discover what new treats they have in store. Your couch is ready you ve possibly stocked up on popcorn and maybe you ve invited friends to celebrate the return of your favourite show. But have you thought about securing your connected TV (Smart TV)? Smart TV like all connected devices can present various types of threats including the risk of having your conversation recorded and using security vulnerabilities that can allow attackers to take control of your device. We have published several articles in the past on the security of connected devices. In the meantime here are some steps you can take to u...

Japan-based Gunze a leading apparel company recently launched its debut retail endeavour at the Etihad Mall in Dubai UAE in partnership with UAE-based ITL Cosmos Group. Dr Akima Umezawa consul-general of Japan in Dubai inaugurated the retail outlet by Gunze said a statement from the company. Dr Ram Buxani chairman ITL Cosmos Group presented a memento of appreciation to Dr Umezawa. Japanese textiles are known for their premium quality and have gained international popularity for their soft rich texture and wrinkle-resistance. Premium kandora and abaya (traditional male and female robes worn in Gulf) brands are popularly made of Japanese fabric in the Middle East. Leading Japanese textile manufacturers have been exporting fabric to the region since 1960. Inspite of their popularity no premium Japanese innerwear brands had a local presence in the market. To fill this gap in the market ITL Cosmos Group has now in...

Emirates continues to push boundaries with its award-winning ice entertainment system with the launch of two new ice TV channels dedicated to promoting the wide range of activities in Dubai and the UAE. The channels will be on ice in December. The innovative solution will help Dubai and UAE businesses promote themselves to the over 5 million customers who fly on Emirates each month. Dubai and the UAE are home to a growing list of top restaurants world-class facilities and events constantly giving visitors and residents something new explore. The new channels on ice give these businesses a new platform to promote themselves to Emirates customers heading to Dubai. Two promotional TV channels will be introduced initially called Dining and entertainment and Attractions and activities. These will help passengers discover the must-see attractions plan unforgettable days out and choose from the city s best dining o...

Expanding FMCG sector retail sector food and E-commerce industry in the country has attributed to the growth of the freight forwarding industry in the Kuwait a report said. The growth of freight forwarding in Kuwait was supported by development in major industries such as oil and gas manufacturing retail wholesale construction agriculture and mining added the report titled Kuwait Freight Forwarding Market Outlook to 2022 By Sea Air and Road Freight Movement; By International and Domestic Freight; By Express and Normal Delivery; By Flow Corridors and By End Users (Oil and Gas FMCG Construction and Others) by Ken Research. The Kuwait market witnessed the entry of many foreign players as flexible policies were introduced by the government to boost the economic growth of the country. Entry of new players has further aided the demand in the freight forwarding market. Kuwait freight forwarding market se...

Batelco a leading digital solutions provider in Bahrain has rolled out OSN Ultimate Entertainment a comprehensive entertainment TV package as the new Batelco TV Basic package which is now available for BD10 ( 26.2) per month. Batelco will be rewarding its loyal Batelco TV Basic Package subscribers with an automatic free upgrade to the newly launched OSN Ultimate Entertainment package. Subscribers to Batelco TV will enjoy an unbeatable selection of world-class entertainment channels including E! Entertainment Discovery channel Animal planet and popular kids channels such as Disney Nickelodeon& Baby TV amongst many others. On top of this movie lovers have the opportunity to subscribe to the OSN Movies and Ultimate movies add-ons which boasts the latest and best HD movies. Moreover sports fans can subscribe to the Sports add-ons to enjoy WWE events MotoGP golf cricket and rugby league. Batelco s TV service wh...

Dubai Holding and Emaar Properties have announced the launch of Dubai Square a new retail metropolis that pushes the boundaries of modern retail and leisure in Dubai Creek Harbour by drawing on next-generation technology. Blurring the boundaries of online and in-mall shopping integrating indoor and outdoor and delivering a social experience like none other the all-new Dubai Square is designed for the new era of customers digital connected and tech-savvy and setting a benchmark for retail experiences in the 21st century said statement from Emaar. It is set in the heart of Dubai Creek Harbour the 6-sq-km mega-development near the Dubai International Airport and the iconic Burj Khalifa by Emaar as well as set by the historic Dubai Creek. Adjacent to Dubai Creek Tower the astonishing new icon Dubai Square in its totality - represents a 2.6-million sq m retail hospitality and residential district for the future. A tech-driven re...

Leading UAE master developer Nakheel said more than 800 households at its Badrah and Veneto communities in Dubai can look forward to a host of shops cafes and amenities with the completion of a new retail pavilion built at a cost of Dh60 million ( 16.3 million). An 8 000-sq-ft Carrefour supermarket has already opened at the 72 000 sq ft pavilion with another 26 outlets coming soon. There is also a car park for 270 vehicles said the statement from Nakheel. A mosque and sports facilities including a pool and gym are also in the pipeline at Badrah it stated. Located at the heart of the Badrah community in Jebel Ali the retail complex is the sixth in Nakheel s growing collection of Pavilions complementing others already in operation at Jumeirah Park Jumeirah Islands Discovery Gardens International City and Al Furjan where a second is under construction said the statement from Nakheel. The new pavilion oper...

ENBD REIT (CEIC) Limited the Shari a compliant real estate investment trust managed by Emirates NBD Asset Management Limited has opened the Souq Extra Retail Centre in Dubai Silicon Oasis. The opening ceremony was attended by the REIT s chairman Tariq Bin Hendi and Saleh Saeed Lootah chairman of Souq Extra. ENBD REIT acquired Phase 1 of the development in December 2017 with 100 per cent occupancy including blue-chip tenants Carrefour Market KFC McDonald s and Starbucks. ENBD REIT acquired the community retail centre at a gross yield of 9.9 per cent and net yield of 8 per cent. Phase 1 has 36 000 sq ft of gross leasable area comprising 42 fully-let retail units. The REIT has also agreed on terms to acquire Phase 2 of the development on completion in the last quarter of 2018 at an 8 per cent net yield. Phase 2 will comprise a 77 000 sq ft expansio...

Dubai International Airport (DXB) was voted as the Best Airport for Retail Environment by millennials at the Travel Retail Awards 2018 held recently in Singapore. The winning entries for the airport categories were chosen from the results of a survey covering the experience of thousands of travellers across the world s top 42 airports over a six-month period. What makes some awards special is those in which our customers based on their airport experience vote DXB number one. This is the highest endorsement of our efforts to continuously improve customer experience and choice working with our partners across the airport. We are thrilled to receive the award jointly with Dubai Duty Free said Eugene Barry executive vice president of Dubai Airports Commercial Group. Commenting on the Travel Retail Awards Colm McLoughlin executive vice chairman and CEO of Dubai Duty Free said: &ld...

Top intimate brands deliver superior results related to revenue and profit growth by creating deeper relationships with their consumers said a new report from MBLM a global provider of optimized marketing solutions. The UAE s retail industry came in eighth of the 15 studied in MBLM s Brand Intimacy 2018 Report. Brand Intimacy is defined as a new paradigm in marketing which leverages the emotional bonds between a person and a brand. Carrefour took home first place for most intimate brand in the retail industry especially amongst users 25 to 44 years of age. Ikea the industry leader in 2017 ranked fourth place in this year s results. Lulu Hypermarket ranked second among retail brands and performed best among millennials aged 18 to 34 with over 65 per cent of the demographic responding that they couldn t live without the brand. One-stop shopping destinations like Lulu Carrefour and online retailer souq.com are deeply embe...

LG Electronics is introducing Google Assistant on its 2018 AI TV line-up which will help deliver cutting-edge AI features operated directly through the TV s remote control with no additional hardware required. The range includes both LG OLED TVs and LG Super UHD TVs with ThinQ AI said a company statement. The collaboration between Google and LG will add more convenience in consumers lives and the synergistic effects from this technology partnership positively impacting LG s award-winning TVs it said. The Google Assistant combines with LG s award-winning webOS based ThinQ AI to bring new levels of convenience and control to the consumer. This enables 2018 LG TVs to deliver an intuitive AI experience that uses natural language commands to control TV functions seamlessly discover and play content and control TV settings. With Google Assistant users can seek help to manage daily tasks access i...

Nissan Motor Company plans to introduce a new retail concept to dealerships around the world to improve customer services within a globally consistent brand experience in response to diversifying expectations and lifestyles. All Nissan-brand dealerships will be encouraged to align with the Nissan Retail Concept or NRC said a statement. The new concept aims to improve all aspects of the customer experience at Nissan dealerships including facility design service process and digital environment it said. More than 400 dealerships in 30 countries have already made the change. Nissan aims to implement NRC at more than 9 000 dealerships in more than 170 countries by the end of fiscal year 2022 it added. Dealerships aligned with the Nissan Retail Concept feature a number of new design elements such as an exterior with the familiar red Nissan signage and an exclusive delivery area that enhances the exciting moment when cus...

With economic growth estimated to have reached 3 per cent in 2017 following expansion of 3.2 per cent in 2016 Bahrain s growth is the strongest amongst the GCC states. The kingdom s retail and hospitality sectors remain key drivers with the government actively driving initiatives to bring in more investors and diversify the country s real estate market said a report by leading property expert Cluttons. The retail market continues to be one of the kingdom s most stable sectors as evidenced by the recent fourth edition of the Shop Bahrain festival held by the Bahrain Tourism and Exhibitions Authority (BTEA) stated Cluttons in its Bahrain Spring 2018 Property Market Outlook. The event registered a record number of transactions totalling BD19 million ( 50 million) from 145 000 transactions compared to BD8 million ( 21 million) from 130 000 transactions last year. This has been matc...

Nissan Motor plans to introduce a new retail concept to dealerships around the world to improve customer services within a globally consistent brand experience in response to diversifying expectations and lifestyles. All Nissan-brand dealerships will be encouraged to align with the Nissan Retail Concept or NRC. The new concept aims to improve all aspects of the customer experience at Nissan dealerships including facility design service process and digital environment. More than 400 dealerships in 30 countries have already made the change. Nissan aims to implement NRC at more than 9 000 dealerships in more than 170 countries by the end of fiscal year 2022. Dealerships aligned with the Nissan Retail Concept feature a number of new design elements such as an exterior with the familiar red Nissan signage and an exclusive delivery area that enhances the exciting moment when customers receive their vehicle. Customers will ...

MBC Group a top private multimedia company in region is presenting a wide range of premium drama productions and comedies as well as a mix of social educational and youth-focused programmes during Ramadan. Viewers can expect productions led by a plethora of stars from the Arab world ranging from Saudi Arabia and the GCC to Egypt as well as The Levant. Ramadan programming will appear on four channels this year: MBC1 MBC Drama MBC MASR and for the first time MBC4. Content can also be accessed via MBC Group s video-on-demand service Shahid.net. TradeArabia News Service ...

UAE-based Al Forsan Real Estate said its vibrant community destination Town Square located in Abu Dhabi s Khalifa City has one of the best blend of restaurants concept stores supermarket gaming zones for children and several other community focussed brands. Spread across 15 000 sq m Town Square which is nestled within Al Forsan Village is fast turning into an ideal destination of choice to unwind for people living in Khalifa City and nearby areas said the developer. With over 385 villas Al Forsan Village is Abu Dhabi s first active and health focused mixed-use development. It promotes a sense of community living while ensuring its residents lead an active and healthy lifestyle. Town Square currently houses some of the finest restaurants concept stores supermarket gaming zones for children and several other community focussed brands. It is now home to several brands including Sp...

Design International an award-winning studio based in Dubai UAE has announced the opening of a new retail destination - The Aura Valle Aurelia - in the heart of Rome not far from the Vatican City. The architectural project commissioned by CDS Holding and Orion is led the award-winning Design International studio directed by Arch. Davide Padoa assisted by Arch. Stefano Cordeschi for the building permit. Aura Mall is part of a larger urban redevelopment project for the entire Valle Aurelia district the aim of which is to reorganize services and enhance the former Fornace Veschi area. Adjacent to the new Piazza de Fornace the shopping centre is designed to be a focal point providing a welcoming environment for people to meet and spend time with easy access from the surrounding residential areas and the nearby underground and railway stations said a statement from the company. With 60 shops a hypermarket ...

While the online subscription video market (OTT) only currently stands at around 25 per cent of the Pay TV market in Mena this is set to increase to more than 50 per cent by 2020 according to a study by IHS Markit a global leader in market research. A booming industry full of hope and expectations the OTT market is on a dynamic growth and Starz Play which has just celebrated its landmark 3rd anniversary - is leading the way with 26 per cent of market share compared to Netflix at 16 per cent and ICFLIX at 11 per cent. Starz Play is also number one in the region in terms of revenue too holding 28 per cent followed by Netflix at 21 per cent. Starz Play sees its subscribers split fairly equal between Saudi Arabia and the rest of the GCC with 30 per cent of sign-ups coming from the Kingdom. These growth rates show no sign of slowing down either and will continue unabated for the next five years dependent on content localiz...

Emirates NBD a leading financial institution in the region was named The Best Retail Bank in the Middle East and The Best Retail Bank in the UAE at the recent The Asian Banker s International Excellence in Retail Financial Services 2018 Awards. Liv. Emirates NBD s digital lifestyle bank for millennials was recognised as The Best Digital Bank in the Middle East only one year into its operations. Emirates NBD was also honoured with The Best Internet Banking Application award internationally at the awards ceremony held in Malaysia recently. Suvo Sarkar senior executive vice president & head - Retail Banking & Wealth Management Emirates NBD said: We are truly honoured to be recognised for the third time in recent years as the best retail bank in the region at the prestigious Asian Banker awards. This is a recognition of our commitment to make banking simple has...

Mobile devices have changed how we work and navigate daily life which means there s a tremendous opportunity to capitalize on the growing use of mobile apps. Location-based services mean that retailers can leverage mobile devices and Bluetooth technology to provide offers to customers and prospects help customers and employees navigate within locations and locate friends assets and services. Deploying location services however can present some challenges. IT may have to learn new technologies and processes as most retailers have little to no experience implementing these types of solutions. And some solutions may require IT to purchase and manage dedicated infrastructure. The good news is that in many cases organizations already possess the technology needed to deploy location services. Bluetooth Low Energy (BLE) is prevalent on popular iOS and Android devices and meets the required accuracy and latency demands for multiple use cases. In addition Wi-...

The Sharjah Investment and Development Authority (Shurooq) and master developer Nakheel have collaborated in a joint venture that will bring a new community retail centre to Sharjah. The project - Nakheel s first outside its home emirate of Dubai - has an estimated development value of Dh75 million. The project to be developed by Nakheel and managed by its retail subsidiary Nakheel Malls joins an ever-growing collection in Nakheel s retail portfolio which currently includes 11 large-scale concepts and seven neighbourhood retail hubs known as Nakheel Pavilions like the one to be built in Sharjah. Design work is underway and details about the new project to be unveiled this year. The two organisations will create a shopping dining and leisure hub in Sharjah s rapidly-expanding Al Rahmaniya district said Shurooq CEO Marwan bin Jassim Al Sarkal after signing the agreement with Nakheel CEO Sanjay Manchanda. ...

CBRE a global real estate consulting firm has been appointed as the exclusive retail leasing partner for Seventh Heaven Al Barari in Dubai UAE. Known for its luxurious properties including spacious apartments and villas Al Barari is one of the most exclusive and eco-friendly developments in the UAE. Seventh Heaven is the second phase of the Al Barari development in Dubailand intended to continue the garden experience by providing a series of cascading apartments with large terraces a 6-star boutique hotel resort and a retail promenade. Comprising of two residential buildings spread across 10 and 12 floors and 157 apartments Seventh Heaven will feature a wide retail mix including restaurants and lifestyle dining skincare boutiques and salons banks and Yoga &Pilates fitness centers. The residential component is due for completion starting July 2018 and the Retail component due to be operational by Q4 2018. An...

The Dubai Chamber of Commerce and Industry has announced the formation of the Retail Business Group a new organisation that aims to promote cooperation among retailers in Dubai serve common interests and promote transparency within the sector. The announcement was made during a special launch event hosted at Dubai Chamber s headquarters. The event was attended by Majid Saif Al Ghurair chairman of Dubai Chamber; Nilesh Ved chairman of the Retail Business Group; and representatives from member companies. The organisation is the 29th sector-specific business group established under the umbrella of Dubai Chamber. By supporting the business group the chamber aims to protect the interests of retailers in Dubai and provide an ideal platform for industry stakeholders to collaborate. Other objectives of the Retail Business Group include addressing common concerns of member...

The times when all that our TV sets could do was show us regular TV stations are now over. These days such old-school TVs are increasingly being replaced with their smart successors which we can use for streaming video and audio playing games browsing the internet and downloading and using apps all of that thanks to their internet connectivity. This evolution is part of a wider trend that involves connecting consumer electronics and everyday objects to the internet creating a rapidly growing mass of various Internet-of-Things (IoT) devices in the process. However the internet connectivity of smart TVs and the perilous state of security in the IoT space in general open the floodgates to a deluge of threats to our privacy and security. Research has shown that various attacks against smart TVs are possible and practicable often requiring no physical ac...

Moda Mall Bahrain s luxury shopping destination has announced the leasing of 600-sq-m of retail space with seven new outlets of lifestyle experiences added to its portfolio of mall offerings over the past year. This led to an increase of 3.4 per cent in mall s leased retail space in 2017 featuring a portfolio of fashion brands commanding 72 per cent jewellery brands 15 per cent and culinary brands 13 per cent. This growth is attributed to new leases including additional fashion lifestyle and culinary offerings that further add a sense of novelty to Moda Mall and offer an unparalleled experience to its savvy consumers. Among the recent brands to launch their retail offerings at the mall include British Master Perfumer Roja Dove s Roja Parfums; one of the finest Italian luxury furniture brands Bakokko; and an exquisite selection of decorative artefacts Limited Edition. The mall has also enhanced its fashion and c...