Middle east's mall expansion boosts toy sales
Wednesday, 13 February 2008
The Gulf Cooperation Council (GCC) states' retail real estate market is the fastest growing in the world according to a recent study. The research states that more than 16.35 million square metres of gross leasable area (GLA) is expected to be Completed By 2010.
"This represents an increase of 565 per cent in available GLA found in the region since 2000, which then stood at 2.46 million square metres," said Monica Schulz-Blank, Show Manager of Middle East Toy Fair. "Within the GCC, the UAE and Saudi Arabia will see the highest GLA increase, with Dubai witnessing the largest actual increase from 1.17 million square metres in 2006 to 4.25 million square metres by the end of the decade."
"This massive expansion in shopping malls in the Gulf combined with an increasing population growing at six per cent annually augurs well for the toy industry,"' she noted. "Over half of the national populations of the Arabic Gulf states is under the age of 16 years and each family has an average of five children making the Gulf a very lucrative market.". .
Research by Epoc Messe Frankfurt, organiser of Middle East Toy Fair which will take place from March 31 to April 2, 2008 at the Dubai International Convention and Exhibition Centre, has shown that the Middle East toy market is worth approximately US$1.5 billion per year with a current growth of 11.8 per cent per annum. It also revealed that the average yearly expenditure per child on toys and video games in the Middle East is US$327 which makes it twice the level of expenditure in Europe and the second largest spend after North America.
The increase in shopping mall space in the Gulf is nearly 50 per cent each year for the last few years, and there are current plans to spend over US$26 billion on building new shopping malls in the Arabian Gulf states over the next five years, stated the study.
Reflecting on the industry Ms Schulz-Blank said that on an average 5-7 and even 10 percent of the space in any retail development across the region is being devoted to family entertainment areas and related stores. Entertainment and Toy stores are fast becoming the anchor for shopping malls across the region.
By 2009, Dubai will have the highest retail spend in the GCC, even higher than Saudi Arabia, despite having a lower population than Saudi. This will be due to the retail income generated from about 15 million tourists.
Abu Dhabi's GLA is set to increase from 574,000 square metres at the end of 2006 to 1.4 million square metres by 2010, representing a total rise of 145 per cent, while Bahrain is expected to see a 216 per cent increase with shopping centre increase in Manama increasing to 600,000 square metres.
As far as the Middle East is concerned, the Toy industry is in for a huge leap . The big players in the industry, The Toy Store, Emsons, Simba Toys Middle East, Kidz Inc., Al Shula Trading are looking forward to replicating the success across the region and also beyond, in surrounding countries that look up to Dubai for latest concepts and designs. These countries can emerge as an important Toy export or import destinations for Dubai. Dubai's strategic position enables it to tap surrounding markets like the Levant, Iran, Eastern Europe, Africa, Asia and the Indian Subcontinent.
Dubai has evolved into an international trendsetter and the Middle East Toy Fair is the region's biggest trade exhibition for toys, baby and infant products, stationery and back-to-school products, games, hobbies, gifts, apparel and licensing. Product areas within the Toy Fair are Baby and Infant, as well as Stationery and Back-To-School. The specific areas will give visitors and exhibitors a place to source products and build new business relationships.
It is a unique platform for exhibitors to network with one another and meet major buyers, key industry players, and educators involved in the shaping of the Middle East toy market
The Middle East Toy Fair is a unique platform for exhibitors to network with one another and meet major buyers, industry influencers, and educators involved in the shaping of the Middle East toy market. The next Middle East Toy Fair is scheduled to take place from the 31st March - 2nd April 2008, in the Dubai International Convention and Exhibition Centre, United Arab Emirates. Show website: www.toyfairdubai.com
EPOC Messe Frankfurt GmbH is a subsidiary of Messe Frankfurt, the world's largest trade fair organiser with its own fairground. It conducts over 150 events worldwide with 15 subsidiaries across Europe, Asia, America, Africa and the Middle East, and brings 800 years of experience to Dubai, the strategic hub for the region .The successful portfolio of event, of EPOC Messe Frankfurt GmbH in Dubai include: Intersec Middle East, Materials Handling+Logistics Middle East, Hardware+Tools Middle East, Garden+Landscaping Middle East, ISH kitchen+bath Middle East, Light Middle East, Beautyworld Middle East, Wellness & Spas Middle East, International CES/Hometech, Automechanika Middle East, and the Middle East Toy Fair.
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Al Bawaba
"This represents an increase of 565 per cent in available GLA found in the region since 2000, which then stood at 2.46 million square metres," said Monica Schulz-Blank, Show Manager of Middle East Toy Fair. "Within the GCC, the UAE and Saudi Arabia will see the highest GLA increase, with Dubai witnessing the largest actual increase from 1.17 million square metres in 2006 to 4.25 million square metres by the end of the decade."
"This massive expansion in shopping malls in the Gulf combined with an increasing population growing at six per cent annually augurs well for the toy industry,"' she noted. "Over half of the national populations of the Arabic Gulf states is under the age of 16 years and each family has an average of five children making the Gulf a very lucrative market.". .
Research by Epoc Messe Frankfurt, organiser of Middle East Toy Fair which will take place from March 31 to April 2, 2008 at the Dubai International Convention and Exhibition Centre, has shown that the Middle East toy market is worth approximately US$1.5 billion per year with a current growth of 11.8 per cent per annum. It also revealed that the average yearly expenditure per child on toys and video games in the Middle East is US$327 which makes it twice the level of expenditure in Europe and the second largest spend after North America.
The increase in shopping mall space in the Gulf is nearly 50 per cent each year for the last few years, and there are current plans to spend over US$26 billion on building new shopping malls in the Arabian Gulf states over the next five years, stated the study.
Reflecting on the industry Ms Schulz-Blank said that on an average 5-7 and even 10 percent of the space in any retail development across the region is being devoted to family entertainment areas and related stores. Entertainment and Toy stores are fast becoming the anchor for shopping malls across the region.
By 2009, Dubai will have the highest retail spend in the GCC, even higher than Saudi Arabia, despite having a lower population than Saudi. This will be due to the retail income generated from about 15 million tourists.
Abu Dhabi's GLA is set to increase from 574,000 square metres at the end of 2006 to 1.4 million square metres by 2010, representing a total rise of 145 per cent, while Bahrain is expected to see a 216 per cent increase with shopping centre increase in Manama increasing to 600,000 square metres.
As far as the Middle East is concerned, the Toy industry is in for a huge leap . The big players in the industry, The Toy Store, Emsons, Simba Toys Middle East, Kidz Inc., Al Shula Trading are looking forward to replicating the success across the region and also beyond, in surrounding countries that look up to Dubai for latest concepts and designs. These countries can emerge as an important Toy export or import destinations for Dubai. Dubai's strategic position enables it to tap surrounding markets like the Levant, Iran, Eastern Europe, Africa, Asia and the Indian Subcontinent.
Dubai has evolved into an international trendsetter and the Middle East Toy Fair is the region's biggest trade exhibition for toys, baby and infant products, stationery and back-to-school products, games, hobbies, gifts, apparel and licensing. Product areas within the Toy Fair are Baby and Infant, as well as Stationery and Back-To-School. The specific areas will give visitors and exhibitors a place to source products and build new business relationships.
It is a unique platform for exhibitors to network with one another and meet major buyers, key industry players, and educators involved in the shaping of the Middle East toy market
The Middle East Toy Fair is a unique platform for exhibitors to network with one another and meet major buyers, industry influencers, and educators involved in the shaping of the Middle East toy market. The next Middle East Toy Fair is scheduled to take place from the 31st March - 2nd April 2008, in the Dubai International Convention and Exhibition Centre, United Arab Emirates. Show website: www.toyfairdubai.com
EPOC Messe Frankfurt GmbH is a subsidiary of Messe Frankfurt, the world's largest trade fair organiser with its own fairground. It conducts over 150 events worldwide with 15 subsidiaries across Europe, Asia, America, Africa and the Middle East, and brings 800 years of experience to Dubai, the strategic hub for the region .The successful portfolio of event, of EPOC Messe Frankfurt GmbH in Dubai include: Intersec Middle East, Materials Handling+Logistics Middle East, Hardware+Tools Middle East, Garden+Landscaping Middle East, ISH kitchen+bath Middle East, Light Middle East, Beautyworld Middle East, Wellness & Spas Middle East, International CES/Hometech, Automechanika Middle East, and the Middle East Toy Fair.
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Al Bawaba