Retail

Kingdom’s retail sector investments gauged at SAR220bn

Investment volume in Saudi Arabia’s retail sector has been estimated at roughly SAR220 billion (US$59 billion).

Recently speaking on the sidelines of the Retail City conference in Dubai, Ghassan Khalifah – Vice President/Commercial Division at Kinan International for Real Estate Development Company, noted that realty developments across the region underwent a major transformation over the last decade. “Realty developments in the Gulf in general – and in Saudi Arabia in particular – have overturned traditional building concepts applied to shopping malls and commercial compounds,” he said.

Dubai jeweller Damas eyes US$355m in IPO

Dubai-based jewellery group Damas aims to raise as much as US$354.73 million in an initial public offering to fund expansion in the Middle East, north Africa and south Asia.

Family-controlled Damas plans to sell 270.58 million ordinary shares at between US$1 and US$1.14 per share and list the shares on the Dubai International Financial Exchange (DIFX) next month, it said in a statement.

Giordano Fashions Middle East launches first BSX store in the region

Giordano Fashions Middle East, the exclusive distributors for Giordano in the Middle East launched their first BSX - Blue Star Exchange, store in the Region at the Badriya Towers in Jeddah, Saudi Arabia.

BSX is one of the latest additions to Giordano International's portfolio that also includes Giordano Concepts, Giordano Junior and Giordano Ladies. BSX is a youth-oriented brand focusing on personality, attitude and product styling that is simple and fashionable.

H&M launches stores across Middle East

H&M (H & M Hennes & Mauritz AB), the Swedish-based international fashion retailer that offers affordable, high quality fashion for all age-groups, recently opened its first-ever store in Egypt.

The giant new store occupies 3,500 square metres of floor space spread across two levels of Cairo's Stars Centre Mall, and is one of H&M's largest stores in the Middle East region.

Saks Incorporated announces opening of Saks Fifth Avenue Men's Store in Dubai

Building upon its two other successful ventures in the Middle East, retailer Saks Incorporated (the ""Company"") announced the opening of a 15,000 square foot Saks Fifth Avenue men's store at The Walk at the Jumeirah Beach Residences in Dubai, United Arab Emirates.

The new men's store will complement an existing 80,000 square foot full-line Saks Fifth Avenue store located in the prestigious Bur Juman Centre in the thriving port city of Dubai in the UAE which opened in 2004. Saks Fifth Avenue in Riyadh, Saudi Arabia opened in 2001.