A step that supports Dubai's strategic plan to increase its foreign trade to two trillion dirhams
"Yiwu Market" officially opens with 1,600 showrooms, occupancy rate of 99%
Yiwu Market covers an area of more than two million square feet.
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Yesterday, the official opening ceremony of Yiwu Market in Dubai, a hybrid shopping complex that will enable local and global supply chains, was held in partnership between DB World and China Commodity City Group.
The "Yiwu Market" represents the first phase of the "Dubai Merchants Market" in the Jebel Ali Free Zone "Jafza", which in turn will extend over an area of approximately 60 million square feet, and include 20,000 stores.
Yiwu Market combines DB World's extensive logistics expertise with the vision of China Commodity City, which operates Yiwu China Commodity City, the world's largest wholesale market.
Sultan Ahmed bin Sulayem, Chairman and CEO of DB World Group, said that the opening of the Yiwu Market is a new achievement within the framework of the Belt and Road Initiative, stressing that the launch of the market is part of the efforts aimed at stimulating the economic diversification of the UAE. Supports Dubai's strategic plan to increase the volume of foreign trade to reach two trillion dirhams within five years.
He added: "Through the development of this qualitative project, we confirm our commitment to strengthening Dubai's position as the third largest re-export center in the world, as the market aims to establish a special international logistics corridor between (Yiwu) markets in both Dubai and China, ensuring the efficiency of the movement of Chinese goods to the country. The UAE, making it the most streamlined gateway for the distribution of goods in the fast-growing markets in the Middle East, Africa, the Mediterranean region and Europe.”
For his part, Chairman of the Board of Directors of China Commodity City Group, Wenjie Zhao, said that the market, through its unique retail experience, will provide a number of value-added services that benefit merchants and shoppers.
"Yiwu Market" covers an area of more than two million square feet, and includes 1,600 showrooms with an occupancy rate of 99%, spread over two floors with two sections to serve merchants, each extending about 950 meters, while the market consists of five main entrances, five lobbies, and three corridors.
The "Yiwu Market" will also allow merchants and companies around the world to obtain wholesale prices and discounts, which helps reduce the costs of dealing with the supply chain, and reduce delivery times, by taking advantage of the strategic location of Dubai.
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