KF: Non-oil economic growth to underpin demand for retail space in Dubai
In its Retail Focus Research Report for Autumn of 2015, Knight Frank (KF) noted that the IMF is looking for the UAE to achieve real economic growth of 3.4% for 2015 as a whole. Growth should accelerate to 4.6% in 2020, in spite of the past fall in oil prices: this is thanks to private investment in the run-up to Expo 2020 and a rise of nearly 20% in the UAE’s population. The wholesale and retail sector of Dubai accounts for an estimated 39% of the Emirate’s GDP and one quarter of the workforce.
Source : December 2015/KF/Dubai/RET