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Primark to open first Dubai store despite regional turmoil

LONDON, March 25 (Reuters) - Budget fashion retailer Primark has confirmed it will press ahead with opening its first Dubai store on Thursday despite the ongoing U.S.-Israeli war with Iran, during which the emirate has been hit by Iranian missiles and drones.

Primark, owned by London-listed Associated British Foods ABF.L, and its franchise partner Alshaya Group will open the store in Dubai Mall.

Primark and Alshaya plan to open two more stores in Dubai - at City Centre Mirdif in April and Mall of the Emirates in May.

Dubai's malls have seen a sharp fall in visitors since the Iran war began, reflecting a collapse in tourism.

Primark and Alshaya plan to open stores in Bahrain and Qatar by the end of the year.

Primark entered the Middle East with a store in Kuwait in October last year.

As of the end of January, Primark traded from about 475 stores in 18 countries across the UK, Europe, the Middle East and the U.S.

 (Reporting by James Davey
Editing by Tomasz Janowski)

 ((james.davey@thomsonreuters.com))

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