Save
The Dubai International Financial Centre (DIFC) is a major hub of international business and industry and has seen continual growth in the retail sector in recent years.
What Types of Retail Are in DIFC?
Dubai International Financial Centre (DIFC) is a well-known financial centre in Dubai, United Arab Emirates. Although it is not predominantly a retail centre, the district contains a number of retail establishments.
The DIFC is home to many luxury fashion brands, including Chanel, Hermès, Louis Vuitton, and Gucci. Luxury jewellery retailers such as Cartier and Graff can be found in DIFC. Contemporary art galleries such as Opera Gallery, Cuadro Fine Art Gallery, and Christie's are also in DIFC.
The DIFC is also home to speciality stores, including The Flower Shop, which sells floral arrangements and gifts. There are several convenience retailers in DIFC, including Carrefour Express and 7-Eleven. You can also find various food and beverage options, including cafes, restaurants, and bars. Whether you're looking to rent a retail space in DIFC or purchase one outright, plenty of options are available.
What Are the Sale Price Trends for Retail in DIFC?
DIFC is renowned for its prime location and high-end retail offerings, which can increase the demand for retail space and potentially affect prices. The retail store's size, layout, and condition can also impact the selling price. As they can accommodate a wider variety of businesses, larger stores with more amenities may command a higher price.
The prices of residential and commercial properties have steadily risen, with the average sale price now at AED 10 million. This growth is largely driven by increasing demand for retail spaces and a growing number of businesses setting up shops in the area due to its attractive incentives, such as low taxes and few restrictions regarding foreign ownership or new businesses entering DIFC's commercial space. However, it is important to note that retail sales figures and trends can vary greatly depending on the individual stores and products sold.
What Are the Best Business Opportunities in DIFC?
Here are some potential business opportunities that could be worth exploring in DIFC:
Financial Services: As a perfect location for financial services, DIFC offers opportunities for asset management, banking, insurance, and wealth management. Due to the increasing demand for these services in the region, establishing a financial services company in DIFC could be a profitable business opportunity.
Hospitality: DIFC's dining and hospitality scene is thriving, with various upscale restaurants, cafes, and nightclubs. Especially for entrepreneurs who have a passion for cuisine and hospitality, opening a restaurant or café in DIFC could be a lucrative endeavour.
Real Estate: Some of Dubai's most prestigious commercial and residential properties are in DIFC. Given the area's high demand for luxury properties, a real estate company specializing in DIFC properties could be profitable.
Fintech: The DIFC is also home to many fintech companies disrupting traditional financial services through technology. As the fintech industry continues to expand, launching a fintech business in DIFC could be a promising opportunity.
What Are the Reasons for Investing in Retail in DIFC?
The DIFC region is home to some of the world's largest financial institutions and provides a great platform to launch or expand a business. With its attractive incentives, such as tax exemptions, freehold ownership, and modern infrastructure, DIFC is an excellent option for investors and entrepreneurs looking for business setup in the retail sector. Retailers can capitalize on the affluent customer base in DIFC and benefit from the low taxes and few restrictions on foreign ownership or new businesses entering DIFC's commercial space.
DIFC is a freezone area, meaning businesses benefit from tax exemptions and other incentives. However, businesses also have the option to set up in the Dubai mainland, which provides access to a larger market.
There is no doubt that investment in retail units in DIFC is a smart move, given its booming market and potential for high investment returns. Therefore, those looking to diversify their portfolio or establish their business should take advantage of this incredible opportunity before prices rise even further.
What Are the Top 10 Commercial Buildings in DIFC?
Dubai International Financial Centre (DIFC) is home to several impressive commercial buildings, many of which are iconic landmarks of the city's skyline. Here are ten of the most notable commercial buildings in DIFC:
- Emirates Financial Towers
- Gate Building
- Central Park Towers
- Index Tower
- The Exchange
- Currency House
- Liberty House
- Park Towers
- Burj Daman
- The Balcony
Investing in any of these commercial buildings can be incredibly rewarding for savvy investors or entrepreneurs willing to take advantage of this booming market.