1 million square metre wholesale market coming up in Dubai South
Mega trading cluster will focus on three sectors: food, fashion, furniture
Dubai: Dubai is setting up a 1 million square metre wholesale market in Dubai South, for year-round trading deals to happen in one central location. The 'Dubai Global Connect' cluster will focus on food, fashion and furniture and living.
This represents a venture involving Investment Corporation of Dubai and Dubai South, which is creating a city-within-a-city around the Expo 2020 site. The Dubai Global Cluster has entered an alliance with US-based Market Center Management Company (MCMC) for the development and management of a permanent showroom environment that will be open year-round to qualified retail buyers and designers, manufacturers, and industry professionals. (The showrooms will be closed to the public.)
The "City of Trade" is already under construction, with a purpose-built visitor centre opening in later this year. Mohammed I. Al Shaibani, Managing Director of the Investment Corporation of Dubai, said: "ICD has embarked on the creation of DGC with the vision to build a unique trade infrastructure that enhances efficiencies in global trade flows through Dubai."
The market is expected to be delivered in phases, with the first phase comprising of 400,000 square meters of dedicated trade facilities including on-site storage, boutique offices, an innovation hub, and a Smart Service Centre to house third-party service providers.