(MENAFN- Khaleej Times) Dubai on Friday reassured residents that there is sufficient stock of food and non-food commodities that can meet their requirements both in the near and long-terms.
Dubai Economy said Union Coop, which has a good network of its branches across the emirate, has one of the largest food and non-food warehouses and storage facilities in the Middle East. It operates 424,442 sqft of warehouse and storage facilities and has stock worth more than Dh500 million to face present situation.
We have many unsung heroes working day and night to ensure that residents continue to get their daily needs of food and other requirements, and adequate stocks of these goods are available to balance demand and supply. The efforts of these people need to be recognized, and we thank them for their dedication to the community, said Mohammed Ali Rashed Lootah, CEO of the Commercial Compliance & Consumer Protection (CCCP) sector in Dubai Economy.
"Union Coop plays a vital role in regulating and stabilising the market, particularly retailing, which makes it an essential pillar in the nation's food security, and its work mechanism and pioneering experience contribute to the momentum of economic growth, Lootah said.
Other major retailers in Dubai and UAE such as Carrefour, Lulu Group, Al Maya Group and Al Adil have also reassured time-and-again that they also have sufficient supply to meet the needs of residents and avoid hoarding goods.
Union Coop said it intends to open new branches in Al Warqa and Al Barsha South 1 as quickly as possible so that will enable the retailer to increase its total inventory by 30 per cent, said Dr Suhail Al-Bastaki, Director of Happiness & Marketing at Union Coop.
Our showrooms contain more than 69,000 varieties of foods and non-food commodities. This adds to our confidence in meeting the needs of the society. We are keen to enhance our stock as we are approaching the Holy Month of Ramadan and we have signed contracts worth Dh400 million to provide all the goods needed by the UAE community at competitive prices," said Al-Bastaki.
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