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.