Tuesday, 25 October 2011

Big Saudi retailer pulls out of Dubai - The National

Saudi Arabia's biggest retailer is pulling out of Dubai after complaining of rising rents in the emirate's most popular malls.

Retail Group Gulf, which is majority owned by the Fawaz Alhokair Group based in Riyadh, has closed more than 40 stores in Dubai and sold a number of its franchise agreements to other retailers.

It had stores in some of the emirate's biggest shopping centres, including Dubai Mall, Ibn Battuta and Dubai Festival City.

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