His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai has launched the Dubai Wholesale City which is said to be the world’s biggest wholesale city in the region. The cost of development and investment for the city is Dh30 billion and will occupy an area of 550 million sqft. Shaikh Hamdan Bin Mohammad Bin Rashid Al Maktoum, Dubai Crown Prince was also present during the announcement. The new advancement is expected to expand UAE’s share of the global wholesale trade sector which is currently at $4.3 trillion and anticipated to cultivate to $4.9 trillion by 2019.
The new worldwide center will contain concentrated coordinated trading parks that meet all the needs of the local and international wholesale merchants in one place as the same time it will also be an international exhibition facility. This project will involve around 15,000 wholesale traders and aims to be a wholesale capital.
The city will include a number of markets, warehouses, cargo and customs centres, insurance companies, storage solutions, banking services, as well as residential units and hotels. It will also act an international exhibition facility for the wholesale traders to connect with buyers and suppliers.
It is closely linked with Al Maktoum International Airport and Jebel Ali Port and it will be able to take advantage of Dubai’s advanced logistics services that will connect with the four continents.
Dubai Wholesale City is aiming to become the world’s largest global wholesale hub in the region that offers a wide variety of wholesale products and solutions all under one roof. In order to attract local, regional and international wholesale traders the wholesale city will effectively employ its extensive offerings, state-of-the-art infrastructure and support services.