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  • 23-04-19

    UAE, KSA to lead GCC retail sector

    (MENAFN) Saudi Arabia and the United Arab Emirates (UAE) are expected to lead the GCC retail sector, with the while region projected for a 22 percent boost in four years to generate USD308 billion.

    By 2023, Alpen Capital forecasts in a report, the retail sector within the GCC will witness a 4 percent jump compound annual growth rate in its size.

    According to the Dubai-based firm, the UAE and Saudi Arabia are likely to amount for 77 percent of sales in the real estate sector over the upcoming five years.

    Alpen Capital executive director Krishna Dhanak commented "demographics are favourable for the growth of retail sector [with the population] rising faster than some of the other parts of the world."

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