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 automobile 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: “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 said: “The new market will be a global centre for commercial services, facilities, logistical solutions, light industries and financing for this important sector, and a destination for hosting major conferences and specialised events for automotive 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, constitutes a new step that enhances Dubai’s position as a global commercial center, especially in light of the emirate’s advanced capabilities that have made it the first regional economic destination in various economic sectors.
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, with the aim of enhancing Dubai’s position as a global economic hub 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.”
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.
The 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, 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 division, 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.
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.
“We are proud to cooperate with Dubai Municipality in this ambitious project, and we are keen to harness our services and expertise in the field of managing economic complexes to consolidate Dubai’s position as a leading destination in the automotive trade sector. We will continue our commitment to providing the best logistical and technological solutions to support this project,” he said. “We are committed to providing the best services and infrastructure that keep pace with global developments and meet the aspirations of investors. We recognize 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 objectives.”
“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 enhancing Dubai’s position as a global hub for innovation and trade in the automotive sector,” concluded Ahmed Bin Sulayem.
For his part, Director General of Dubai Municipality, Dawood Al Hajri, said: “Signing the partnership agreement with DP World represents an important step towards achieving Dubai’s ambitious vision to develop the automotive market to be the largest and best in the world. 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.”
He added: “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 enhance Dubai’s position on the global stage.”
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. The market will be developed into an integrated global center offering advanced and innovative services in the automotive sector.
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 DP World network, enhancing ease of access and trading with a wide range of countries and economic destinations. Its position as a global market for light vehicle trade, classic and luxury vehicles, and spare parts trade 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, and the vehicle assembly and modification industry.
The market will include many vital facilities, such as customs inspection, employee housing, entertainment facilities, and others, making it integrated in terms of infrastructure, facilities, and services.
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 it will work to provide a range of integrated services including buying, selling and registration, in addition to innovative banking and logistics services.
Dubai Car Market:
• Doubling its area from 2.8 million square feet to 20 million square feet.
• A global market for car trade, including classic and luxury cars, and spare parts trade.
• Ample space for exhibitions, warehouses and multi-storey parking lots with the latest standards and specifications.
• It will include light industries related to vehicle trade, vehicle assembly and modification industry.
• It will include many vital facilities such as customs inspection, employee housing, entertainment facilities, and others.
• Hosting major events and conferences specialized in everything related to the world of cars, and developing the market to become a global destination for car lovers.
• Providing comprehensive logistics solutions including e-commerce and trade finance.
Mohamed Ben Rached:
Today, we have directed to double the current Dubai car market area eightfold to reach 20 million square feet.
The new market will be a global hub for commercial services, facilities, logistics solutions, light industries and financing for this important sector.
Working to link the market with 77 ports around the world managed by DP World, to increase its capacity and double its current sales.
Maktoum bin Mohammed:
The vision and directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum form the basis for the development process in Dubai.
Accelerating the pace to achieve the goals of the Dubai Economic Agenda (D33) aimed at doubling the size of the emirate’s economy and transforming it into one of the top three economic cities by 2033.
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