The largest supplier of amusement equipment in the Middle East, ASI of Dubai, has welcomed the lifting of sanctions on Iran.
CEO Prakash Vivekanand commented: “Iran is a large market and will offer significant opportunities for the leisure and entertainment business in the years to come. The lifting of sanctions is just the first step and we will need to wait for banking ties to resume between Iran and the rest of the world.
“Once this happens we can expect new retail, mixed use and leisure projects to be announced and the existing projects that have been on go-slow to progress rapidly. While we are not going to see instant business due to the lifting of these sanctions, as many amusement manufacturers expect, we will see phenomenal growth in the years to come.”
Vivekanand added: “The population is large and has disposable income to indulge in lifestyle and quality leisure and entertainment. We are likely to see many Middle Eastern FEC brands expand into Iran. We are also likely to witness many retail developers venture into this market. Exciting times indeed amid the oil crisis!”
