OREANDA-NEWS More than half of Russian brands in the Middle East have suspended the operation of their retail facilities in the region due to the military conflict between the United States and Israel with Iran, the director of the tenant representation unit CORE told RIA Real Estate.XP Evgeny Domashenko.

According to him, approximately 100-120 Russian brands operate in the Middle East and North Africa, 70-80% of their total activity is concentrated in Dubai (UAE).

"There is no direct evidence of both mass and targeted departures of Russian brands. However, many companies, more than half, have suspended the operation of their retail facilities for security reasons," Domashenko said.

Vladimir Kalikin, Director of Development and Brokerage at Nikoliers Real Estate Management Department, estimated that 94 retail and restaurant operators from Russia are currently represented in the UAE, 46 of which are in the catering category, 20 in clothing and footwear. He also noted that the current situation in the Middle East has made adjustments to the plans of many investors, retailers and restaurateurs who do business in Dubai or were preparing to enter the UAE market.