Dubai’s Majid Al Futtaim, which develops and operates shopping malls across the Middle East, said overall spending in the UAE increased by 22% in the first half (H1) of 2022 from the same period last year.
In its latest “State of the UAE Retail Economy” report, the property and retail conglomerate said the number of visitors to its shopping malls rose by 15% in H1 compared with the same period last year.
Retail spending grew 16% while there was a 31% growth in non-retail sectors, it added.
In the first half of 2022, the retail general category was up by 15% from the same period in 2021, contributing a 44% growth to the overall retail economy. —Zawya News
