By Staff writer
Trade-focused free zone intended to be largest in the world at 550 million sq ft
Dubai Wholesale City has begun accepting applications from companies wishing to reserve space at the planned new free zone, it said on Sunday.
State news agency WAM reported in March that Dubai Wholesale City is intended to be the largest wholesale hub in the world, spanning over 550 million square feet and costing AED30 billion ($8.1 billion) over 10 years.
The plans are part of wider Dubai efforts to boost the UAE’s status as a key market in international trade.
The new free zone aims to increase the UAE’s share of the global wholesale trade sector, which is valued at $4.3 trillion and expected to grow to $4.9 trillion in the next five years, WAM said.
On Sunday, Dubai Wholesale City’s developer, Dubai Holding, said it was inviting interested companies and traders to submit their applications for lease via its website www.dubaiwholesalecity.ae or by email to email@example.com, or by visiting the company’s stand at the Cityscape conference in Dubai this week.
Under the plans, the free zone will comprise specialised trading parks and an international trade exhibition facility. The development aims to attract more than 15,000 wholesale traders.