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Saudi Arabia is the largest and one of the fastest growing retail markets in the MENA region and continues to attract strong interest from retail brands, principally driven by the Kingdom's relatively youthful population. A number of global brands, as well as 'up and coming' retailers from the UAE, Lebanon, Turkey and Asia are currently looking to increase their presence in the country. The Saudi retail market is characterised by a number of unique factors which are explored in this report. Those retailers able to address these, will be those that succeed in unlocking the undoubted potential of this market.
The rapid rate of development has increased competition among retail centres. As the sector continues to mature some of the older malls are now starting to lose market share to more modern centres that offer international shopping environments in terms of brand mix facilities, and amenities along with complementary leisure components.
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10 December 2011