Mohammed bin Rashid: Dubai continues to develop economic and development projects

Dubai (Al-Ittihad)
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, may God protect him, has directed the establishment of the “Dubai Auto Market”, to be the largest and best market of its kind in the world, contributing to consolidating Dubai’s position as one of the most important and fastest growing cities in the world in the field of car trade.
In implementation of His Highness’s directives and the follow-up of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, witnessed the signing of the partnership agreement between Dubai Municipality and DP World to establish and develop the Dubai Auto Market to be the largest and best market in the world, covering an area of ​​20 million square feet, and to contract the establishment and management of the new market to DP World, relying on its extensive logistical expertise and ability to reach and connect all parts of the world through its network that includes more than 430 business units in 86 countries.

His Highness Sheikh Mohammed bin Rashid Al Maktoum said: “Today, we have directed the Dubai Automobile Market to be outsourced to DP World, and to double its current area eightfold to reach 20 million square feet, making it the largest and best auto market in the world, and to work on linking the market with 77 ports around the world managed by DP World to increase its capacity and double its current sales.”
His Highness also said: The new market will be a global centre for commercial services, facilities, logistical solutions, light industries and financing for this important sector. It will also be a destination for hosting major conferences and events dedicated to car enthusiasts. Dubai will continue to develop economic and development projects to become one of the largest economic and commercial centres in the world.
The directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, may God protect him, to establish the Dubai Auto Market to become the largest and best market in the world, constitute a new step that enhances Dubai’s position as a global trade center, especially in light of the emirate’s advanced capabilities that have made it the first regional economic destination in various economic sectors.

Global Center
For his part, His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, stressed that the vision and directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum form the basis from which the development process in Dubai is launched.
His Highness said: “We are working through the ambitious vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum to enhance Dubai’s position as a global economic centre through strategic initiatives. The establishment of the Dubai Auto Market to be the largest and best in the world represents a qualitative addition through which we are keen to provide an integrated investment environment that supports sustainable economic growth.”
His Highness added: This initiative will contribute to accelerating the pace of achieving the goals of the Dubai Economic Agenda D33, which aims to double the size of the emirate’s economy and transform it into one of the top three economic cities by 2033… We seek to enhance various economic and commercial sectors by taking advantage of Dubai’s location and logistical capabilities in a way that supports the local economy with new job opportunities and investments.

partnership agreement
His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum witnessed the signing of the partnership agreement between Dubai Municipality and the Economic Zones Sector of DP World to establish and manage the new market.
This agreement comes within the framework of strategic cooperation between the two parties to enhance Dubai’s position as a global center for innovation and trade in the automotive sector, and by relying on the extensive experience that DP World has in developing and operating integrated economic zones, industrial and logistics complexes.
Under this partnership, DP World’s Economic Zones sector, through its experience and management of integrated economic complexes in many countries around the world, will provide comprehensive logistics solutions that include e-commerce, trade finance and asset development.

First destination
His Excellency Sultan Ahmed bin Sulayem, Chairman and CEO of DP World, stressed that cooperation between government and private institutions contributes to supporting Dubai’s national economy.
He said: We are proud to cooperate with Dubai Municipality in this ambitious project… We are keen to harness our services and expertise in the field of managing economic complexes to consolidate Dubai’s position as a first destination in the automotive trade sector… We will continue our commitment to providing the best logistical and technological solutions to support this project.
He added: We are committed to providing the best services and infrastructure that keep pace with global developments and meet the aspirations of investors. We realize the importance of this project in strengthening the local economy and achieving sustainable growth, and we will work to provide all the resources and capabilities that ensure the success of the project and the achievement of its goals.
Ahmed Bin Sulayem concluded by saying: “Our partnership with Dubai Municipality reflects our commitment to providing the best solutions and services that meet the needs of the market and contribute to achieving our future vision. We are excited about this opportunity and seek to achieve sustainable successes that contribute to strengthening Dubai’s position as a global center for innovation and trade in the automotive sector.”

Enhancing Dubai’s position as a destination for investment in the automotive sector
“Signing the partnership agreement with DP World represents an important step towards achieving Dubai’s ambitious vision of developing the automotive market to be the largest and best in the world,” said Dawood Al Hajri, Director General of Dubai Municipality. “Through this promising project, we are keen to provide the best services and facilities that meet the needs of investors and traders, which enhances Dubai’s position as a major destination for investment in the automotive sector.”
Al Hajri added: “Through this project, we seek to enhance the infrastructure and develop integrated services that contribute to supporting the local economy and achieving sustainable growth. We realize the importance of providing advanced and innovative services that keep pace with global developments and meet the aspirations of investors. The establishment of the Dubai Auto Market will enhance our ability to attract foreign investments and contribute to strengthening Dubai’s position as a global center for innovation and trade.”
Al Hajri concluded by saying: “The partnership with DP World reflects our commitment to providing the best solutions and services that meet the needs of the market and contribute to achieving our future vision. We seek to achieve sustainable successes that contribute to achieving economic development and enhancing Dubai’s position on the global stage.”

Innovative services
The promising project aims to double the current market area from 2.8 million square feet to 20 million square feet, making it eight times its current size, and the market will be developed into an integrated global center offering advanced and innovative services in the automotive field.
This number is expected to double in the coming period, thanks to the significant expansion in infrastructure and services provided. The new market will also provide innovative government and banking services and will be linked to global markets through the Dubai Ports World network, which will enhance ease of access and trade with a wide range of countries and economic destinations. The market’s position as a global market for the trade of light vehicles, classic and luxury vehicles, and spare parts will also be enhanced.
In addition to providing ample space for exhibitions, warehouses and multi-storey parking lots with the latest standards and specifications, light industries related to vehicle trade, vehicle assembly industry and modifications.
The market also includes many vital facilities such as customs inspection, employee housing, entertainment facilities, and others, which makes this market integrated in terms of infrastructure, facilities, and services.
The new market will be a hub for hosting major events and conferences specialised in the automotive world, making it a preferred destination for car enthusiasts and investors alike.
The market includes areas designated for exhibitions, conferences and events that bring together the most prominent experts and international companies in the field of cars, which enhances its ability t
o host global events and makes it a preferred destination for car enthusiasts and investors, while it will also be comprehensively developed to include entertainment, cultural and commercial areas that meet all the needs of visitors and investors.
The Dubai Auto Market project is one of the strategic projects that contribute to achieving Dubai’s future vision. The new project represents a step towards achieving the Dubai Economic Agenda D33 by promoting innovation and trade, and reflects Dubai’s commitment to providing the best infrastructure and services to support the local and global economy, as the market will provide a range of integrated services that include buying, selling and registration, in addition to innovative banking and logistics services.