The project called Dubai Lagoon was first launched by Schon Properties in 2005
realty4 hours ago
The UAE is home to millions of tea and coffee lovers. Despite the popularity of soft and energy drinks in recent years, a preference for traditional brews like tea and coffee is still prevalent. According to International Coffee and Tea Festival, over 19,000 kg of tea is consumed across the UAE daily.
A Euromonitor International survey paints a similar picture. The regional coffee industry, it suggests, continues to thrive despite the economic downturn in recent years, which saw most consumers cutting back costs on non-basic commodities. Notably coffee and tea consumption in the Arab World has tripled over the last decade with the UAE alone registering an 85 per cent increase, according to recent coffee statistics from the International Coffee Organisation (ICO).
Given its immense popularity, cafés and tea shops have emerged as major watering holes in the country. With its huge client base, the UAE has become a favourite destination for globally-recognised coffee brands such as US giant Starbucks, UK's Costa Coffee and Canada's Tim Horton's, to name a few. In addition tointernational brands, numerous local operators have contributed to the vibrancy of the coffee and tea business in the region. Coffee brands like Hintz with its carefully selected coffee beans and the range of instant coffees - spray-dried, freeze-dried and decaffeinated - have established a name for themselves.
The UAE's booming economy and diverse cultural makeup has been crucial in creating a secure market for both tea and coffee. The country has become an important hub for the import and re-export of coffee - raw, roasted and ground. As the biggest importer of tea (with over 83,000 tonnes imported in the country annually), the country's share of total global tea imports continues to be on the rise, as per a report issued by the UAE Ministry of Foreign Trade recently.
In numbers $242.7 million Tea and coffee market growth by 2019 6 per cent Coffee year-on-year growth 5.4 per cent Tea year-on-year growth Source: Euromonitor |
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