Dubai: Nakheel Malls, the retail arm of Nakheel, has launched a new retail and trading hub in partnership with DP World.
Souk Al Marfa, which is located in Deira Islands, offers multiple benefits to traders including 100 per cent foreign ownership, repatriation of capital and profit, no restrictions on currency movement, logistical ease and ancillary amenities such as warehousing, office space, showrooms, ancillary retail and F&B facilities.
“Dubai excels in the movement of goods globally through its port facilities, but we uncovered an opportunity for SME traders at a wholesale level,” said Omar Khoory, Chief Hospitality and Assets Officer, Nakheel.
“Souk Al Marfa will bridge this gap and provide a vibrant centralised trader experience and a new stream of economic activity,” he added.
The hub is in close proximity with Mina Rashid, Mina Al Hamriya and Deira Wharfage, with the potential to ship and import directly to its 2,500 shops and pavilions.
When will it open?
The trade center, expected to open in April 2021, will operate all year round.
“The launch of Souk Al Marfa will further enhance the wholesale trade capabilities in Dubai - we hope this project leverages from our recently launched NAU application that connects Dhow owners with traders allowing them to search, negotiate and book shipments, and utilise the strategic location of Mina Rashid, Mina Al Hamriya and Deira Wharfage that are managed by DP World,” said Mahmood Al Bastaki, Chief Operating Officer, Dubai Trade World.
Souk Al Marfa is the second collaboration between Nakheel Malls and DP World to be announced in the last five months. The first, dragonmart.ae, was launched in September 2020.