The Dubai Wholesale City project, which Dubai hopes will become known as “the capital of international wholesale trade”, was officially unveiled on Wednesday by HH Sheikh Mohammed Bin Rashid Al Maktoum, vice president and prime minister of the UAE and ruler of Dubai.
The hub can accommodate 15,000 wholesale traders. According to a news release, the project was conceptualised to increase the UAE’s share of the global wholesale trade sector that is currently valued at $4.3 trillion and is expected to grow to $4.9 trillion in the next five years.
The Dubai Wholesale City will comprise of specialised integrated trading parks and an international trade exhibition facility. It will also feature “Country Pavilions” that will include commercial centres and malls offering products from various countries, including India, Malaysia, Thailand, Turkey, Australia, China, South Korea, Germany, Saudi Arabia, the United States and South America.
The hub will also provide wholesale traders with roads, warehousing, storage facilities and support services.
No location or completion date has been mentioned.