UAE beats China and US for global retailer presence

The UAE has retained its position of being the second most sought after global markets by international retailers with Dubai, as well, holding on to its second position among the most preferred cities by retailers in 2014, according to a new survey by CBRE.

The top ten markets are largely unchanged from the 2012 rankings. The United Kingdom retains the top spot as the most penetrated market by international retailers with 57.5 per cent of retailers surveyed present there, the global consultancy said in its report - 'How global is the business of retail'.

The UAE comes second with 54.5 per cent, followed by China (52.4 per cent), the US (51.2 per cent) and Germany (49.1 per cent).

France moves up one place to join Spain in sixth place with 48.2 per cent of retailers present; Russia (46.7 per cent) remains eight.

Hong Kong moves up two places to ninth (44.6 per cent) and Singapore (43.1 per cent) moves up one place to 10th.

Europe continues to dominate the top ten although Asian markets are climbing up the rankings with, for example, Hong Kong and Singapore moving ahead of Italy (now in 11th position), the report said.

Dubai tops Middle East

London retains its number one spot as the most penetrated city for international retailers.

“Despite high rental levels, a fiercely competitive market and a lack of available prime space, London continues to attract retailers from across the world,” CBRE said.

Dubai retains its second place on the global ranking and the remains the only Middle East city to be  featured on the top 10 list.

New York comes in third, sharing the position with Moscow. Shanghai rose two places to stand fifth with Paris, Hong Kong, Singapore, Berlin and Madrid making up the remainder of the top 10.

Europe, Asia Pacific favour Dubai

When looking at European retailers’ target markets outside of their home region, Dubai tops the ranking with 61 per cent of European retailers present there.

For Asia Pacific retailers, the most infiltrated city outside of their own region is Dubai - 23.5 per cent of Asia Pacific retailers have a presence there. In addition to Dubai, the top five target markets also include Abu Dhabi, Doha and Kuwait City where around 10 per cent of Asia Pacific retailers have a presence.

When looking at markets outside of their home region, London remains the top target for American retailers. The proportion of American retailers that have a presence in London has risen 4.2 per cent since 2012, with Dubai following.

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