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Dubai’s newest wholesale market to open on June 28

Yiwu Market, a Dh600 million ($163.4m) facility in Jebel Ali Free Zone (Jafza), which caters to the retail and wholesale industries, will open on June 28. The market was set up in line with the UAE’s aim to facilitate trade by easing supply chain shortages following the coronavirus pandemic. Yiwu is the result of a partnership between global ports operator DP World and the China Commodity City Group, which built and manages the world’s largest wholesale market in China. Yiwu is the first phase of the Dubai Traders Market (DTM), the 5.5 million square metre marketplace within Jafza. “As part of a nation that is regarded as a leading global trade hub, the responsibility is on us to ensure that we make the best out of our strategic advantages and elevate its status to greater heights,” Abdulla Bin Damithan, chief executive and managing director, DP World UAE and Jafza said in a statement.

The market comprises 324 warehouses spread across two floors. The warehouses are located right behind the showrooms, enabling the easy supply of products to the showrooms, thus eliminating the impact of low-stock-delays on outbound trade. Additionally, each warehouse has a dedicated loading dock, providing complete logistical support for the seamless movement of goods.
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 license 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.
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