UAE investors flock to food, retail and hospitality stocks ahead of Eid

As the UAE prepares for the Eid holidays, local equity markets are experiencing a familiar seasonal trend: a shift in investor focus toward food, retail, and hospitality stocks, driven by an anticipated surge in consumer spending and tourism.

- Somshankar Bandyopadhyay [e-mail]

Retail sales in the UAE are forecast to reach $10 billion this year, highlighting the economic significance of the festive period. Food and beverage producers, particularly Agthia Group, are already witnessing increased demand for staples such as dates, flour, and bottled water — key items during Ramadan and Eid celebrations.

Agthia, listed on the ADX, reported an 8.1 per cent year-on-year revenue increase in a recent quarter, largely fueled by strong seasonal sales.