Hong Kong's cultural retail model to land in UAE

A Hong Kong-based enterprise is bringing its proven cultural retail model to the United Arab Emirates, opening up the Middle Eastern market for Chinese brands and diverse cultural experiences.

On Wednesday, Hong Kong-headquartered Almad Group and its subsidiary K11 by AC joined hands with Dubai's Wafi Group – operator of Wafi City, one of Dubai's most iconic mixed-use lifestyle and retail destinations – to sign a partnership.

The collaboration includes a new joint venture named Wafi Anime 11, focusing on anime retail and entertainment while providing an on-ground presence for Chinese brands new to the UAE, tailored to meet the demands of local Gen Z and Gen Alpha demographics.

According to Dubai's Department of Economy and Tourism, the number of Chinese visitors to Dubai reached 824,000 in 2024, a year-on-year increase of 31 percent.

Serving as a bridge connecting the Chinese and UAE markets, the two companies aim to promote the integration of Chinese culture with local demands through Hong Kong's proven cultural retail expertise.

Sheikh Mana bin Khalifa Al Maktoum, founder and chairman of Wafi Group, said, "Together, we aim to introduce experiences and brands that will not only elevate Wafi City but also strengthen the cultural and commercial bridge between the Middle East and China."

Almad Group focuses on transformative industries spanning culture, entertainment, sports, media, healthcare, commercial management and cultural tourism across emerging markets – namely the Middle East, the Chinese mainland, and ASEAN countries.

"Hong Kong's strength in cultural retail lies in its ability to bridge Eastern and Western markets, and this partnership embodies the spirit of connecting the Middle East and China," said Adrian Cheng, founder and executive chairman of K11 by AC of ALMAD Group.

"We are confident that the Chinese consumer brands, top-tier IP innovations, and immersive experiences we bring will serve the rapidly growing retail market and young demographics well."

Catering to the strong demand for youth culture in the Middle East, the two sides will launch a series of themed IP exhibitions featuring anime, e-sports, and K-Pop starting in 2026.