Yiwu market, a new shopping hub for affordable Chinese products has now opened in Dubai. This first smart free zone market in the Middle East promises to be economical for shoppers, wholesale and retail industries.
According to the Dubai Media office, DP World and the China Commodity City Group, which manages the world’s largest wholesale market in China, partnered to build the Yiwu market in Dubai. It is the first phase of the Dubai Traders Market in the Jebel Ali Free Zone (Jafza) where traders and consumers can expect a new experience.
Spanning over an area of 200,000 sqm, it houses 324 warehouses, 1,600 mainland showrooms and are spread across two floors. They are divided into different sections, like electronics and appliances, furniture and lighting, beauty and accessories, tools and hardware, kitchen and bath, bedding, curtains and clothing.
Abdulla Bin Damithan, CEO and MD, DP World UAE and Jafza, said,
“Our innovative initiatives, and advanced trade and logistics solutions have successfully cemented Jafza as an ideal destination for traders and businesses. Yiwu Market is one such solution we devised for our local traders and consumers. We saw the need for a marketplace where goods can be stored, sold, imported, and exported; all in one place, without additional charges and with the greatest possible ease. We are very optimistic about how it will enhance the trading experience for our traders and shoppers.”
Yiwu Market is located near Jebel Ali Port and Al Maktoum International Airport, which is one of the advantages it offers to its customers. This enables them to easily transport goods to and from their warehouses through multiple channels in a cost and time-efficient manner.
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. This results in lower shelf prices for consumers, making Yiwu Market ideal for both traders and buyers. Furthermore, the initiative will also serve as a bridge for trade between the UAE and international markets.
News Source: Gulf Business