Dubai is set to revolutionise its automotive trade sector with the development of the ‘Dubai Car Market’, a monumental project directed by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. The ambitious initiative, spanning 20 million square feet, aims to become the world’s largest and most advanced car market, connecting seamlessly with 77 ports worldwide managed by DP World, reported Middle East Economy.
The agreement for this expansive facility, signed between Dubai Municipality and DP World, underscores Dubai’s commitment to enhancing its global stature in automotive commerce. Sheikh Mohammed emphasised the market’s potential to double its current sales of AED 6.8 billion (USD 1.85 billion), leveraging DP World’s extensive logistical network and expertise across 86 countries.
“The ‘Dubai Car Market’ will not only expand eightfold but also integrate comprehensive services such as buying, selling, registration, banking, and logistics,” Sheikh Mohammed stated. This strategic endeavor aligns with Dubai’s broader vision of becoming a leading economic and commercial hub globally.
DP World, entrusted with the construction and management of the market, envisions it as a dynamic hub for global events and conferences, catering to both enthusiasts and industry stakeholders. Sultan Ahmed bin Sulayem, Group Chairman and CEO of DP World, affirmed their commitment to leveraging economic zone management expertise to establish Dubai as a premier destination in the automotive trade sector.
Dawood Al Hajri, Director General of Dubai Municipality, highlighted the partnership’s significance in realising Dubai’s vision for unparalleled investor and trader services. He emphasised the market’s pivotal role in reinforcing Dubai’s position as a top global investment destination.
The ‘Dubai Car Market’ project underscores Dubai’s strategic foresight and commitment to pioneering economic development projects that elevate its global standing. As construction progresses, it is poised to redefine automotive trade standards and consolidate Dubai’s reputation as a hub for innovation and economic dynamism on the world stage.