Poundstretcher to open in Dubai Budget UK store to open at Madina Mall By Jamie Goodwin 17 April 2012 UK discount store Poundstretcher is set to open in Dubai.The bargain-basement retail chain will open its first branch outside the UK at Madina Mall.The chain plans to open a further six in the Gulf, after spotting a gap in the market for discount retailers, said Cliff Lomberg, general manager for Middle East and Africa. SIMILAR ARTICLES Abu Dhabi reinstates 5% cap on rent increase Abu Dhabi Grand Prix tickets on sale now Dubai to Abu Dhabi in just 12 minutes? Chaos at Guns N' Roses Dubai show “There is a gap in the market for discount retailers out there. We think we can make money,” said Lomberg.Madina Mall in Deira is expected to open at the end of the month. Its Poundstretcher branch will be the first of four stores across the UAE, said Lomberg.Poundstretcher saw its 2011 profits soar to GBP£1.4m (US$2.2m) against the previous year’s loss of GBP£7.1m in April.It will be the first value retailer to expand outside of the UK and Ireland, Retail Week reported.