DUBAI // More tourists are participating in this year's Dubai Shopping Festival, thanks to heavy discounts on merchandise and rooms as well as the event's good timing, retailers and hotel operators say.
Retailers said their sales during the 32-day event, which ends today, were up as much as 40 per cent from last year, while hotels were reporting higher occupancy rates.
Nilesh Ved, the chairman of the Apparel Group, whose stores include Aeropostale and Aldo, said the school holidays in neighbouring GCC countries and other events elsewhere allowed more tourists to join in.
"It's the Chinese New Year, the Gulf holidays, tourists from India, it's Kuwait and their Liberation Day; everything together is bringing people into the malls," he said.
Mr Ved said that while sales had not reached the peaks of 2008, he estimated his group's sales were up 41 per cent compared with last year. "Those were the honeymoon years," he said. "I still think we are far away from that, but it has improved."
The festival, with its mix of entertainment across the city and discounts at shops, is a major driver for retail sales and tourism in the emirate. This year, 6,000 retailers and 50 malls are taking part in the shopping extravaganza. With just today remaining, mall operators and retailers say they are already ahead of last year.
Laila Suhail, the chief executive of the Dubai Events and Promotions Establishment, which has organised the festival, said all the holidays and special occasions in their target markets were taken into consideration. While final visitor and spending figures were not yet available, early indications were positive, she said.
Tom Miles, the general manager of Festival Centre at Dubai Festival City, said the number of visitors was up between 30 and 40 per cent this year. Given the economic climate, however, people were not necessarily spending more than they did last year.
"Anecdotally, there has been increased sales, but it's not gangbusters," he said. "That goes again back to consumer confidence. The more confident you have a job in the future, the more liberal you are with your dirhams. But, it was better this year than last year."
Retailers say they spent more on promotions this year, or offered discounts on more items to attract customers.
Hoteliers in Dubai also used aggressive discounting and promotions this year to attract thrifty visitors and boost occupancy levels at a time when competition was fierce due to an increase in the number of hotels and a decline in demand from western Europe.
"February has been a very good month," said Nasser Fawzi, the director of sales and marketing at Kempinski Hotel, Mall of the Emirates. "The beginning of the month was a bit slow, but from February 10 the pick-up was very good."
He said the hotel had attracted more guests than expected this year, largely as a result of promotional packages.
"The occupancy was 77 per cent in February 2009 and is expected to hit 81 per cent this year. The GCC holidays which started in Saudi Arabia followed by Qatar and Kuwait pushed Dubai's figures up."
Arshad Hussain, the director of business development at The Monarch Dubai, agreed that special deals and the GCC holidays had been a massive help, with occupancy this month at more than 80 per cent.
"The business from the Saudi market has been strong during the Saudi Holidays in February and we have seen strong growth in the Indian market," he said.
Last month, the consultancy STR Global said December hotel occupancy levels rose to 71.9 per cent from 64.3 per cent in the same period in 2008, although room rates fell. Average daily rates were down to US$244.32 (Dh897.40), from $324.02.
DEPE also launched a package to bring more tourists to the emirate. It offered a discount of 40 per cent on hotels' maximum rates, as well as reduced airfares, free breakfasts, shopping vouchers and free transfers to airports and shopping malls.
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RESULTS
ATP China Open
G Dimitrov (BUL x3) bt R Bautista Agut (ESP x5)
7-6, 4-6, 6-2
R Nadal (ESP x1) bt J Isner (USA x6)
6-4, 7-6
WTA China Open
S Halep (ROU x2) bt D Kasatkina (RUS)
6-2, 6-1
J Ostapenko (LAT x9) bt S Cirstea (ROU)
6-4, 6-4
ATP Japan Open
D Schwartzman (ARG x8) bt S Johnson (USA)
6-0, 7-5
D Goffin (BEL x4) bt R Gasquet (FRA)
7-5, 6-2
M Cilic (CRO x1) bt R Harrison (USA)
6-2, 6-0
What is Folia?
Prince Khaled bin Alwaleed bin Talal's new plant-based menu will launch at Four Seasons hotels in Dubai this November. A desire to cater to people looking for clean, healthy meals beyond green salad is what inspired Prince Khaled and American celebrity chef Matthew Kenney to create Folia. The word means "from the leaves" in Latin, and the exclusive menu offers fine plant-based cuisine across Four Seasons properties in Los Angeles, Bahrain and, soon, Dubai.
Kenney specialises in vegan cuisine and is the founder of Plant Food Wine and 20 other restaurants worldwide. "I’ve always appreciated Matthew’s work," says the Saudi royal. "He has a singular culinary talent and his approach to plant-based dining is prescient and unrivalled. I was a fan of his long before we established our professional relationship."
Folia first launched at The Four Seasons Hotel Los Angeles at Beverly Hills in July 2018. It is available at the poolside Cabana Restaurant and for in-room dining across the property, as well as in its private event space. The food is vibrant and colourful, full of fresh dishes such as the hearts of palm ceviche with California fruit, vegetables and edible flowers; green hearb tacos filled with roasted squash and king oyster barbacoa; and a savoury coconut cream pie with macadamia crust.
In March 2019, the Folia menu reached Gulf shores, as it was introduced at the Four Seasons Hotel Bahrain Bay, where it is served at the Bay View Lounge. Next, on Tuesday, November 1 – also known as World Vegan Day – it will come to the UAE, to the Four Seasons Resort Dubai at Jumeirah Beach and the Four Seasons DIFC, both properties Prince Khaled has spent "considerable time at and love".
There are also plans to take Folia to several more locations throughout the Middle East and Europe.
While health-conscious diners will be attracted to the concept, Prince Khaled is careful to stress Folia is "not meant for a specific subset of customers. It is meant for everyone who wants a culinary experience without the negative impact that eating out so often comes with."
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
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• Landfill gas is composed of 50 per cent methane
• Methane is 28 times more harmful than Co2 in terms of global warming
• 11 million total tonnes of waste are being generated annually in Abu Dhabi
• 18,000 tonnes per year of hazardous and medical waste is produced in Abu Dhabi emirate per year
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