Dubai retail group plans multi-million spending spree

A start-up Dubai-based retail and hospitality investment company is set to embark on a multi-million dirham spending spree amid growing retail fever in the UAE.

Alif Investments plans to open 150 retail concepts across the Gulf in the next five years, with six store concepts being rolled out over the next two days.

"This is the best time to invest," said Asif Jabbar, director and group chief executive, "There is so much bounce in the market. If you have the right product at the right price, you should not miss this opportunity."

Alif Investments is leveraging the power of Pakistani celebrities and will open the first Junaid Jamshed clothing boutique in Abu Dhabi, with the store originally founded by the famed Pakistani singer.

It will also open two new butcher concepts called Meat One, founded by Pakistan cricket legends Inzamam-ul-Haq and Saeed Anwar, and three new restaurants called Emly & Chilli, offering a mix of Pakistani and Indian cuisine.

Alif Investments was founded just over a year ago, and Mr Jabbar says that despite global economic uncertainty, retail in the Gulf is likely to be shielded by any downturn.

"The GCC will not be affected," he said. "The GCC is in the Middle East and nothing will happen, it will remain in the middle."

Alif Investments joins a growing number of companies investing right across the retail spectrum, from new malls, to supermarkets and high-end clothing stores.