Dubai’s food and beverage (F&B) market has seen exponential growth in the past few years helped by significant spending on socialising and eating out by both the national as well as expatriates in the UAE.
Despite the challenging global and regional macroeconomic environment, the outlook for the emirate’s F&B sector remains quite positive in the coming months, according to a recent report by consultancy firm CBRE.
The emirate continues to attract significant interest from both international and home grown restaurant brands, with Din Tai Fung and Five Guys some of the latest names to open their doors to the public, according to CBRE.
“Although it is clear the market is becoming more competitive, there remain tangible opportunities for well positioned concepts, particularly those which bring new experiences to the market,” said Nick Maclean, managing director of CBRE Middle East.
Dubai retained its position as the second most important international shopping destination globally for the fifth consecutive year, placing close behind London in the 2016 edition of CBRE’s How Global is the Business of Retail? survey, partly aided by the strong F&B market.
The emirate also ranked among the top ten markets that attracted the highest number of new retailers in 2015. F&B brands were nearly 30 per cent of new brands that set up their shops in the UAE’s retail space in 2015.
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