Welcome to the first edition of 'What’s the Deal?'– a periodic publication from the Deal Advisory team. Every edition will contain our thought leadership and opinion pieces on topical matters, leveraging our in-house research and experience.
For our first edition we have chosen to focus our attention on shopping, and the impact of retail on the economy. In the GCC region, shopping malls are the main drivers of the retail industry, and uniquely so. Europe and USA, for instance, see much of the retail sales driven by ‘high street’ shops and online shopping.
In the UAE and larger GCC region however, soaring temperatures for part of the year and a still nascent online shopping infrastructure make these segments of retail selling less popular.
Additionally, the regional ethos pertaining to malls cannot be overlooked. Malls in the region have grown and expanded almost simultaneously with the cities where they are located, and have in fact now become an integral part of the local lifestyle. GCC malls mean business and understanding the malls’ value drivers is of crucial importance.
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KPMG International Cooperative (“KPMG International”) is a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.