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    Oman Launches First Rutab Festival to Celebrate Heritage, Farming and Tourism

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    Green Certifications: A Strategic Imperative for GCC Food Producers

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    UAE Highlights Sustainable Breakthroughs in Cloud-Seeding Technology

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    Oman Grants Licences to 24 Integrated Aquaculture Farms in 2024

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    Global Agrifood Systems Require $1.1 Trillion Annually to Achieve Sustainability Goals by 2030

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    FAO Report Highlights Severe Agricultural Land Degradation Across the Arab Region

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    Oman: Over 250 Model Farms Drive Fruit Production Growth in Dhahirah

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      UAE Launches New AI-Powered Strategic Planning Cycle Aligned with 2031 Vision

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      Oman’s GDP Expands 4.7% on Non-Oil Sector Growth

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      Qatar’s Booming Consumer Electronics Market Sets the Stage for ConsumerTeQ 2025

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      Emerging Trends Reshape GCC’s Rapidly Growing Retail Sector

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      Consumer Electronics Boom Continues Across GCC, Middle East

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      Qatar’s Consumer Electronics Market Set for Steady Growth Driven by Premium Demand and Digital Transformation

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        Jeddah Tower Set to Claim Title of World’s Tallest Building

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        Whitewill Expands into Oman’s Real Estate Market Amid Rising Foreign Investment

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        Iraq to Develop 60 New Cities to Address Housing Crisis

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          Iraq Set to Launch First Nuclear Training Reactor in Partnership with China

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          Iraq Launches Ambitious Plan for 1,000 Solar Projects in Three Years

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          Iraq and Power China International Sign Deal to Strengthen National Power Grid

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          Qatar Adds 875 MW in Solar Power, Boosts Renewable Energy Push

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            Qatar’s Health Spending Set to Climb 14% by 2029

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              Saudi Arabia Welcomes Record 116 Million Tourists in 2024, Spending Reaches $76 Billion

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                    Iraq Launches New US$930 Million Railway Project to Strengthen Connectivity and Drive Economic Growth

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                      Oman Launches First Rutab Festival to Celebrate Heritage, Farming and Tourism

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                      Green Certifications: A Strategic Imperative for GCC Food Producers

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                      Oman Grants Licences to 24 Integrated Aquaculture Farms in 2024

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                      FAO Report Highlights Severe Agricultural Land Degradation Across the Arab Region

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                      Oman: Over 250 Model Farms Drive Fruit Production Growth in Dhahirah

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                        Saudi Arabia’s PPR Pipes Market to Reach 34,119 Tons by 2033, Driven by Sustainability, Infrastructure Expansion, and Water Conservation Efforts

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                        UAE Launches New AI-Powered Strategic Planning Cycle Aligned with 2031 Vision

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                        Oman’s GDP Expands 4.7% on Non-Oil Sector Growth

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                        Qatar’s Booming Consumer Electronics Market Sets the Stage for ConsumerTeQ 2025

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                        Middle East Gaming Market to Surpass $42 Billion by 2033, Driven by Youth Demand and Mobile Adoption

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                        Emerging Trends Reshape GCC’s Rapidly Growing Retail Sector

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                        Consumer Electronics Boom Continues Across GCC, Middle East

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                        Qatar’s Consumer Electronics Market Set for Steady Growth Driven by Premium Demand and Digital Transformation

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                          Qatar’s Construction Sector Poised for Transformation, Says New Report

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                          Jeddah Tower Set to Claim Title of World’s Tallest Building

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                          UAE Highlights Sustainable Breakthroughs in Cloud-Seeding Technology

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                          Iraq to Establish Four New Desalination Plants in Basra

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                          Over 111 km of Internal Road Projects Underway in Oman’s Al Dhahirah Municipality

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                          Whitewill Expands into Oman’s Real Estate Market Amid Rising Foreign Investment

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                          Iraq to Develop 60 New Cities to Address Housing Crisis

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                          Turkey Set to Gain $50 Billion from Major Iraqi Infrastructure Project

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                            Lebanon Moves to Build New Gas Power Plants as Part of Reform Program

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                            Turkish Firm ENKA Secures $289M Contract to Upgrade Power Plant in Iraq’s Sulaymaniyah

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                            Oman Seeks Bids for Two Major Substation Projects

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                            Iraq Set to Launch First Nuclear Training Reactor in Partnership with China

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                            Qatar 2025: From Energy Powerhouse to Innovation Leader

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                            Iraq Aims for 12 GW of Renewable Energy by 2030

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                            Iraq and Power China International Sign Deal to Strengthen National Power Grid

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                            Qatar Adds 875 MW in Solar Power, Boosts Renewable Energy Push

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                              Middle East Pharma Market Set to Reach $36 Billion by 2028 as GCC Drives Innovation and Local Production

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                              Qatar Medicare 2025 Returns to Doha as the Premier International Healthcare Platform

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                              Qatar’s Health Spending Set to Climb 14% by 2029

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                              Qatar Precision Health Institute and Qatar Foundation’s Pre-University Education Expand Collaboration to Inspire Future Scientists

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                              Qatar and the UK Explore Deeper Cooperation in Healthcare

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                              The View Hospital Becomes Qatar’s First Private Facility with a Dedicated Dialysis Unit

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                              Qatar’s Ambulance System Sets Global Benchmark with Cutting-Edge Pre-Hospital Care

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                              Sidra Medicine Pioneers Holistic, Culturally Sensitive Fertility Care in Qatar

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                              Hamad Medical Corporation Receives Global Recognition with JCI Accreditation

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                                Saudi Arabia Leads Middle East’s Strategic Push into $600 Billion Global Sports Economy

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                                Global Tourism Set to Reach 30 Billion Trips and $16 Trillion GDP by 2034

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                                Oman Awards Over $600 Million in Contracts for Tourism Expansion

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                                Qatar Expands Role as a Leading Global Tourism Destination

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                                Saudi Arabia Welcomes Record 116 Million Tourists in 2024, Spending Reaches $76 Billion

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                                Oman Secures $6.7 Billion in Tourism Investments Toward $7.8 Billion Goal by 2025

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                                Oman Unveils 3-Kilometer Tourist Walkway in Nakhal: A Transformative Step for Local Tourism

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                                Middle East’s Schengen Style GCC Tourist Visa Approved, to be Rolled Out ‘Soon’

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                                  Technological and Sustainable Innovation Drives Growth in Digital Printing

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                                  Middle East Pharma Market Set to Reach $36 Billion by 2028 as GCC Drives Innovation and Local Production

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                                  Abu Dhabi’s Aldar Targets 87% Construction Waste Recycling In 2025 Sustainability Push

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                                  Qatar Strengthens Circular Economy with Expansion of Recycling Facilities

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                                  Packaging Becomes Lifeline for Struggling Print Industry

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                                    UAE Launches New AI-Powered Strategic Planning Cycle Aligned with 2031 Vision

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                                    Dubai Launches Region’s First PropTech Hub to Back 200 Startups by 2030

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                                    Qatar’s Booming Consumer Electronics Market Sets the Stage for ConsumerTeQ 2025

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                                    Consumer Electronics Boom Continues Across GCC, Middle East

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                                    Qatar’s Consumer Electronics Market Set for Steady Growth Driven by Premium Demand and Digital Transformation

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                                    The Top 10 Emerging Technologies for 2025

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                                    Saudi Arabia’s ICT Spending Tops $10 Billion: Key Trends and What’s Ahead

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                                      Iraq to Establish Four New Desalination Plants in Basra

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                                      Over 111 km of Internal Road Projects Underway in Oman’s Al Dhahirah Municipality

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                                      Saudi Arabia Leads Middle East’s Strategic Push into $600 Billion Global Sports Economy

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                                      Saudi Arabia’s PPR Pipes Market to Reach 34,119 Tons by 2033, Driven by Sustainability, Infrastructure Expansion, and Water Conservation Efforts

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                                      Iraq to Open Three Major Airports in 2025

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                                      Turkey Set to Gain $50 Billion from Major Iraqi Infrastructure Project

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                                      Major Road Infrastructure Upgrades Underway in Oman’s Dhofar Governorate

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                                      Baghdad Metro Project Moves Forward Under New Implementation Strategy

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                                      Iraq Launches New US$930 Million Railway Project to Strengthen Connectivity and Drive Economic Growth

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                                      Home Business & Economy Business

                                      Bahrain’s retail sector branching out

                                      Oxford Business Group

                                      December 16, 2014
                                      in Business, Economy
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                                      The development of middle and lower income housing units in outlying areas in Bahrain is not only welcome news for those looking for a home to buy, it also signals a wave of new opportunities for retailers eyeing untapped markets in the kingdom.

                                      Appetite for retail space, from both local and international investors, has been supported by positive consumer sentiment in recent quarters, after the economy grew 5.1% in constant prices in the third quarter of this year, according to official data published at the start of December, with GDP rising 1.7% in the quarter, despite a mixed economic picture.

                                      Moving out
                                      The retail sector has outperformed other real estate asset classes in the past three quarters, with increased demand from international and local retailers for mall space in the capital as well as smaller community malls, according to global real estate consultancy CBRE.

                                      “Smaller community mall projects are helping to drive progress in the sector with local retail developments in and around the capital witnessing strong demand,” said CBRE in its Q3 2014 MarketView report.

                                      This trend was also noted by consultancy Cluttons in its latest assessment of Bahrain’s property market, which outlined a move from highly centralised retailing in large multi-outlet hubs to retail space outside the capital or smaller neighborhood retail centers. It noted exceptionally strong levels of demand in the first three quarters, especially for smaller units of 50-100 sq m.

                                      This shift has spurred the progress of developments in Bu Quwah, Muharraq, Isa Town and Riffa, with outlying markets yet to be widely serviced by retailers.

                                      “We have already begun to record high demand from retailers, looking for smaller schemes around the capital,” said Harry Goodson-Wickes, Cluttons head for Bahrain.

                                      The demand for more retail space in suburban areas will accelerate in the coming years as state programs to provide subsidized residential units for Bahraini nationals come to fruition. In mid-November, King Hamad ordered that the pace of delivery of new units be stepped up, with another 40,000 homes to be handed over. Many of these units will be in areas outside the main hub of Manama, creating wider opportunities for retailers to serve these expanding urban centers.
                                      Much of the demand will be for consumer goods, household and mid-range general products, rather than high-end or luxury retail outlets that are represented in many of the upscale malls and shopping centers in the capital.

                                      Consumer confidence holds strong
                                      Bahrain’s retailers have also been buoyed by poll results that show rising consumer sentiment. According to the latest regional survey by online jobs website bayt.com and polling company YouGov, released in late September, consumer sentiment has improved since the results of the last survey in March with Bahrain’s consumer confidence index (CCI) climbing from 107.51 points to 113.86. According to the survey, a third of respondents said they intended to buy a desktop or laptop computer within the next six months – one of the highest percentages in the region – while a quarter are planning to buy furniture with demand for white goods and electronics following close behind.

                                      Another key indicator in the CCI is expectations on economy and finance. More than 80% of those surveyed said they expected their financial position to improve or remain the same over the next two quarters, with just 12% expecting a downturn. However, the wider economic outlook is less certain, with just under a third of respondents expecting an improvement in the economy and 19% forecasting a weakening over the following six months.

                                      Bahrain’s parliamentary elections, held at the end of November, came at a time of a mixed economic performance and prospects. Challenges include high unemployment among younger generations − standing at 27.5% according to the World Economic Forum (WEF) report − and weak credit ratings of Baa 2 and BBB from Moody’s and Standard & Poor’s.

                                      Bridging retail trade
                                      Nonetheless, the retail sector is benefitting from its strategic location in the region, helping to lure overseas investment, while large regional events such as the Jewellery Arabia exhibition in November, which attracted retailers from more than 30 countries and drew in sales of BD11m ($29.2m) over five days, are cementing Bahrain’s position globally.

                                      Cluttons noted increasing interest from Chinese retailers keen to enter the local market to take advantage of the lucrative tourist trade from Saudi Arabia, and also helped by projects such as Dragon City, a Chinese-themed retail development in Diyar Al Muharraq that is due to open its doors mid-2015.

                                      The trade between Saudi Arabia and Bahrain will be given a substantial boost thanks to plans to build a second causeway running parallel to the existing causeway.  The existing King Fahd Causeway carries more than 8m vehicles annually, though congestion on the 25km road link has seen long delays during peak travel times.

                                      The retail sector is also hoping to ride on the back of tourism and mixed-used projects such as The Avenues, a $50m project to regenerate a stretch of waterfront in Manama, opposite Bahrain Bay. Construction on the landmark project began in October with estimates of its completion in early 2016.
                                      Oxford Business Group
                                      16 December

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