Dubai’s new Yiwu Market – the first smart free zone market in the Middle East – is set to open its doors on June 28.
The market will cater to both retail and wholesale industries.
Yiwu Market is the first phase of the Dubai Traders Market in the Jebel Ali Free Zone (Jafza) that aims to revolutionise the trading experience for traders and consumers through its unique offerings.
Spanning over an area of 200,000 square metres, the market houses 1,600 mainland showrooms spread across two floors.
Ninety-nine percent of the showrooms are already occupied, Wam reported.
Abdulla Bin Damithan, chief executive officer and managing director, DP World UAE and Jafza, said he was optimistic about how the new market would enhance the trading experience for the traders and shoppers.
“Our innovative initiatives, and advanced trade and logistics solutions have successfully cemented Jafza as an ideal destination for traders and businesses. Yiwu Market is one such solution we devised for our local traders and consumers,” Bin Damithan said.
“We saw the need for a marketplace where goods can be stored, sold, imported, and exported – all in one place, without additional charges and with the greatest possible ease,” he added.
The showrooms in the Yiwu Market are categorically divided into different sections such as electronics and appliances, furniture and lighting, beauty and accessories, tools and hardware, and kitchen and bath products.
The market comprises 324 warehouses spread across two floors, located right behind the showrooms to enable easy supply of products.
Additionally, each warehouse has a dedicated loading dock, providing complete logistical support for the seamless movement of goods.
One of the most prominent advantages Yiwu Market offers to its customers is its close proximity to Jebel Ali Port and Al Maktoum International Airport.
This enables customers to easily transport goods to and from their warehouses through multiple channels in a cost and time-efficient manner.
Yiwu Market also offers significant value-added services to its tenants and shoppers.
For the first 27 months after the opening of the market, tenants will not be required to pay a management fee.
This is in addition to the relatively low licence cost due to the market’s location within Jafza, and the reduced logistics costs for import and export due to its proximity to sea and air transport channels.
This results in lower shelf prices for consumers, making Yiwu Market ideal for both traders and buyers.
Yiwu Market will also offer ‘Yiwu Connect’, a dedicated area that allows cross-border networking and information exchange between traders in Dubai and factories in China.
Besides connecting local traders with Chinese factories without the need of a middleman, ‘Yiwu Connect’ will also allow these traders to inspect the goods for quality assurance before importing them to the Dubai Yiwu Market.
This service, at a time of unprecedented supply chain problems, will give customers a new level of quality assurance.
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