Retailers seek new lease of life

When Georges Farha signed up with Emaar Malls to open a soup and sandwich restaurant in Dubai Mall, he was counting on about 100,000 people passing his shop each day.

But after the global economic downturn hit, Mr Farha, one of the investors in the Dubai-based Intercat Hospitality, says there is only between 40,000 and 50,000 potential customers each day passing the Toast outlet, which for now is not generating enough sales to stay open.

“I’m losing my shirt,” Mr Farha says. “And all the other people who signed up, they’re not doing much better.” The first few months of this year has been tough for retailers in the UAE with fewer tourists, and shoppers going for cheaper items or curbing their spending until easier times.