Dubai’s “oversaturated” F&B market should be more tightly regulated, with authorities monitoring how many restaurants are opening to ensure long-term sustainability, according to Naim Maadad, the founder and chief executive of Gates Hospitality.
Gates Hospitality has a portfolio that includes restaurants such as Folly, Reform Social & Grill, Bistro des Arts, Asia de Cuba and Publique. In an interview with Arabian Business, Maadad said he believes that urgent intervention is required from government authorities to control Dubai’s increasingly populated F&B market.
“We have more venues per capita than some of the most mature and populated markets,” he said. “The formula just doesn’t tally up. We need to regulate these openings.” – Maadad compared the regulations he is calling for to those used to control the city’s fleet of taxis.
“Dubai does it very well with taxis. We have a number of taxis on the road based on population count,” he said. “We need to take the same business model and apply it to various other industries. As the population grows and develops, we can keep adding.”
