A night market is to be launched in Dubai during Ramadan with retailers from around the region selling a variety of quirky products and speciality foods.
The Ramadan Night Market will host up to 300 independent retailers over 10 days from 8pm to 3am in the Dubai World Trade Centre, alongside the Majlis tent, Modhesh World and the Sports World complex.
“It’s going to be a hustling, bustling place,” said Sunil Jaiswal, the chief executive of Sumansa Exhibitions, the organiser of the event. “It’s going to be a different shopping experience than going to a mall.” The market will have a number of different categories of retail, including food from around the world, garments, accessories, electronics and health and beauty items.
The organisers expect 2,000 visitors per day and have already received requests from retailers that would enable the available space to be filled twice over.
“We are targeting retailers from the Middle East and further afield because a lot look at this as a good opportunity to come to Dubai when spending is high,” said Mr Jaiswal.
So far, the organisers have had interest from retailers in the Gulf and the Indian subcontinent. All the retailers are small to medium-sized businesses, selling from stalls, Mr Jaiswal said.
Spending on gifts often increases during Ramadan as shoppers buy presents for loved ones ahead of the Eid Al Fitr celebration at the end of Ramadan.
The night market is expected to attract customers looking for a bargain or for something out of the ordinary.
“My gut feeling is that it’s going to be the prices that draw people in and the bargains that are available,” said Mr Jaiswal.
“There’s a huge, huge market out there for these kind of retailers.”
The launch of the market comes as retail spending in the UAE is on the increase, with retailers reporting sales growth this year up 15 per cent from a year earlier on the strength of a buoyant market.
New malls are cropping up in Abu Dhabi, and developers are adding space to existing shopping centres in Dubai as confidence grows among local consumers amid rising numbers of visitors coming to the UAE. Retail sales in the Emirates are expected to grow 44 per cent from an estimated Dh124 billion (US$33.7bn) this year to Dh179bn by 2016, according to Business Monitor International, a research consultancy.
It also estimates that tourist arrivals in the UAE will reach 12.5 million this year, up 7 per cent on last year. “Dubai has definitely turned a corner. It’s an internationally renowned city,” said Mr Jaiswal.
Sumansa hopes to offer a large area of space to local small and medium-sized businesses that can win new local customers and gain repeat business after the show.
“I really want to offer this to the local businesses here,” said Mr Jaiswal. “We feel there’s a very strong market here.”
Sumansa, established in 2006, helps to run exhibitions in several locations including the UAE, the United Kingdom, South Africa, Singapore and Hong Kong. The events organiser’s flagship exhibition is the Indian Property Show in the Dubai World Trade Centre.
“There will be a number of events at DWT,” said Mr Jaiswal.
“It’s going to be a place to go, and we will begin marketing to bring people in.”
rjones@thenational.ae
twitter: Follow and share our breaking business news. Follow us
iPad users can follow our twitterfeed via Flipboard - just search for Ind_Insights on the app.
Five expert hiking tips
- Always check the weather forecast before setting off
- Make sure you have plenty of water
- Set off early to avoid sudden weather changes in the afternoon
- Wear appropriate clothing and footwear
- Take your litter home with you
Company Profile
Name: Direct Debit System
Started: Sept 2017
Based: UAE with a subsidiary in the UK
Industry: FinTech
Funding: Undisclosed
Investors: Elaine Jones
Number of employees: 8
Company Profile
Company name: Hoopla
Date started: March 2023
Founder: Jacqueline Perrottet
Based: Dubai
Number of staff: 10
Investment stage: Pre-seed
Investment required: $500,000
What are the GCSE grade equivalents?
- Grade 9 = above an A*
- Grade 8 = between grades A* and A
- Grade 7 = grade A
- Grade 6 = just above a grade B
- Grade 5 = between grades B and C
- Grade 4 = grade C
- Grade 3 = between grades D and E
- Grade 2 = between grades E and F
- Grade 1 = between grades F and G
COMPANY PROFILE
Company name: Klipit
Started: 2022
Founders: Venkat Reddy, Mohammed Al Bulooki, Bilal Merchant, Asif Ahmed, Ovais Merchant
Based: Dubai, UAE
Industry: Digital receipts, finance, blockchain
Funding: $4 million
Investors: Privately/self-funded
SPECS: Polestar 3
Engine: Long-range dual motor with 400V battery
Power: 360kW / 483bhp
Torque: 840Nm
Transmission: Single-speed automatic
Max touring range: 628km
0-100km/h: 4.7sec
Top speed: 210kph
Price: From Dh360,000
On sale: September
The specs
Engine: 2-litre 4-cylinder
Power: 153hp at 6,000rpm
Torque: 200Nm at 4,000rpm
Transmission: 6-speed auto
Fuel consumption: 6.3L/100km
Price: Dh106,900
On sale: now
COMPANY PROFILE
Company: Eco Way
Started: December 2023
Founder: Ivan Kroshnyi
Based: Dubai, UAE
Industry: Electric vehicles
Investors: Bootstrapped with undisclosed funding. Looking to raise funds from outside
The specs: Taycan Turbo GT
Engine: Dual synchronous electric motors
Power: 1,108hp
Torque: 1,340Nm
Transmission: Single-speed automatic (front axle); two-speed transmission (rear axle)
Touring range: 488-560km
Price: From Dh928,400
On sale: Orders open
COMPANY PROFILE
Company name: Revibe
Started: 2022
Founders: Hamza Iraqui and Abdessamad Ben Zakour
Based: UAE
Industry: Refurbished electronics
Funds raised so far: $10m
Investors: Flat6Labs, Resonance and various others
SPECS
Engine: 2-litre 4-cylinder petrol (V Class); electric motor with 60kW or 90kW powerpack (EQV)
Power: 233hp (V Class, best option); 204hp (EQV, best option)
Torque: 350Nm (V Class, best option); TBA (EQV)
On sale: Mid-2024
Price: TBA
SPECS
Engine: Supercharged 3.5-litre V6
Power: 400hp
Torque: 430Nm
On sale: Now
Price: From Dh450,000
TRAP
Starring: Josh Hartnett, Saleka Shyamalan, Ariel Donaghue
Director: M Night Shyamalan
Rating: 3/5
AIR
Director: Ben Affleck
Stars: Matt Damon, Jason Bateman, Ben Affleck, Viola Davis
Rating: 4/5
THE SPECS
Engine: 1.6-litre turbo
Transmission: six-speed automatic
Power: 165hp
Torque: 240Nm
Price: From Dh89,000 (Enjoy), Dh99,900 (Innovation)
On sale: Now
Small Victories: The True Story of Faith No More by Adrian Harte
Jawbone Press
What is graphene?
Graphene is extracted from graphite and is made up of pure carbon.
It is 200 times more resistant than steel and five times lighter than aluminum.
It conducts electricity better than any other material at room temperature.
It is thought that graphene could boost the useful life of batteries by 10 per cent.
Graphene can also detect cancer cells in the early stages of the disease.
The material was first discovered when Andre Geim and Konstantin Novoselov were 'playing' with graphite at the University of Manchester in 2004.
COMPANY PROFILE
Name: Haltia.ai
Started: 2023
Co-founders: Arto Bendiken and Talal Thabet
Based: Dubai, UAE
Industry: AI
Number of employees: 41
Funding: About $1.7 million
Investors: Self, family and friends
THE SIXTH SENSE
Starring: Bruce Willis, Toni Collette, Hayley Joel Osment
Director: M. Night Shyamalan
Rating: 5/5
'Ashkal'
Director: Youssef Chebbi
Stars: Fatma Oussaifi and Mohamed Houcine Grayaa
Rating: 4/5
Kill Bill Volume 1
Director: Quentin Tarantino
Stars: Uma Thurman, David Carradine and Michael Madsen
Rating: 4.5/5
The specs
Engine: Single front-axle electric motor
Power: 218hp
Torque: 330Nm
Transmission: Single-speed automatic
Max touring range: 402km (claimed)
Price: From Dh215,000 (estimate)
On sale: September
Auron Mein Kahan Dum Tha
Starring: Ajay Devgn, Tabu, Shantanu Maheshwari, Jimmy Shergill, Saiee Manjrekar
Director: Neeraj Pandey
Rating: 2.5/5
DEADPOOL & WOLVERINE
Starring: Ryan Reynolds, Hugh Jackman, Emma Corrin
Director: Shawn Levy
Rating: 3/5
Company Profile
Company name: Namara
Started: June 2022
Founder: Mohammed Alnamara
Based: Dubai
Sector: Microfinance
Current number of staff: 16
Investment stage: Series A
Investors: Family offices
BORDERLANDS
Starring: Cate Blanchett, Kevin Hart, Jamie Lee Curtis
Director: Eli Roth
Rating: 0/5
Company+Profile
Name:+Thndr
Started:+2019
Co-founders:+Ahmad+Hammouda+and+Seif+Amr
Sector:+FinTech
Headquarters:+Egypt
UAE+base:+Hub71,+Abu+Dhabi
Current+number+of+staff:+More+than+150
Funds+raised:+$22+million+
Results
6pm: Dubai Trophy – Conditions (TB) $100,000 (Turf) 1,200m
Winner: Silent Speech, William Buick (jockey), Charlie Appleby
(trainer)
6.35pm: Jumeirah Derby Trial – Conditions (TB) $60,000 (T)
1,800m
Winner: Island Falcon, Frankie Dettori, Saeed bin Suroor
7.10pm: UAE 2000 Guineas Trial – Conditions (TB) $60,000 (Dirt)
1,400m
Winner: Rawy, Mickael Barzalona, Salem bin Ghadayer
7.45pm: Al Rashidiya – Group 2 (TB) $180,000 (T) 1,800m
Winner: Desert Fire, Hector Crouch, Saeed bin Suroor
8.20pm: Al Fahidi Fort – Group 2 (TB) $180,000 (T) 1,400m
Winner: Naval Crown, William Buick, Charlie Appleby
8.55pm: Dubawi Stakes – Group 3 (TB) $150,000 (D) 1,200m
Winner: Al Tariq, Pat Dobbs, Doug Watsons
9.30pm: Aliyah – Rated Conditions (TB) $80,000 (D) 2,000m
Winner: Dubai Icon, Patrick Cosgrave, Saeed bin Suroor
The specs
Engine: 1.5-litre 4-cylinder petrol
Power: 154bhp
Torque: 250Nm
Transmission: 7-speed automatic with 8-speed sports option
Price: From Dh79,600
On sale: Now
Why your domicile status is important
Your UK residence status is assessed using the statutory residence test. While your residence status – ie where you live - is assessed every year, your domicile status is assessed over your lifetime.
Your domicile of origin generally comes from your parents and if your parents were not married, then it is decided by your father. Your domicile is generally the country your father considered his permanent home when you were born.
UK residents who have their permanent home ("domicile") outside the UK may not have to pay UK tax on foreign income. For example, they do not pay tax on foreign income or gains if they are less than £2,000 in the tax year and do not transfer that gain to a UK bank account.
A UK-domiciled person, however, is liable for UK tax on their worldwide income and gains when they are resident in the UK.
Spare
Profile
Company name: Spare
Started: March 2018
Co-founders: Dalal Alrayes and Saurabh Shah
Based: UAE
Sector: FinTech
Investment: Own savings. Going for first round of fund-raising in March 2019
UAE currency: the story behind the money in your pockets
Sam Smith
Where: du Arena, Abu Dhabi
When: Saturday November 24
Rating: 4/5
The specs
Engine:+1.5-litre+turbo
Power:+181hp
Torque:+230Nm
Transmission:+6-speed+automatic
Starting+price:+Dh79,000
On+sale:+Now