Posted inAsia PacificConstructionConstructionGCCMiddle EastPoliticsPolitics & Economics

Nakheel’s Dragon City to boost UAE-China trade, says envoy

Chang Hua, China’s Ambassador to the UAE, hails developer’s new project to expand Chinese trading hub in Dubai

An artists impression of the Dragon Mart extension.
An artists impression of the Dragon Mart extension.

Nakheel’s newly-announced, 11 million sq ft Dragon City project in Dubai will play a key role in further boosting trade links between the UAE and China, according to Chang Hua, the People’s Republic of China’s Ambassador to the UAE.

His Excellency’s comments came during a visit to Nakheel’s Dubai headquarters, where large-scale models of Dragon City and other new Nakheel projects are on display.

The projects were endorsed by Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, earlier this week.

Welcoming the Ambassador, Nakheel CEO Sanjay Manchanda, said: “Dragon City will build on the phenomenal success of Dragon Mart. We are creating a vast, mixed-use community that will open up more opportunities for trade between the UAE and China, and provide new facilities for Dubai’s residents and visitors, including the growing Chinese population here.”

Dragon Mart – already the largest Chinese trading hub outside mainland China – is to undergo a 6.5 million sq ft extension with retail and residential components.

The expansion includes a 2.2 million sq ft retail complex with nearly 1.3 million sq ft of leasable space; a two-tower residential component with 1,120 one and two bedroom apartments and a 250-room hotel.

This new expansion project complements the existing, 2.95 million sq ft Dragon Mart extension which includes a mall, car park and hotel. Dragon City will eventually span 11 million sq ft.

Follow us on

For all the latest business news from the UAE and Gulf countries, follow us on Twitter and LinkedIn, like us on Facebook and subscribe to our YouTube page, which is updated daily.