Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, deputy leader of UAE, has laid the foundations for Dubai CommerCity, the regions first free zone for e-commerce in the Middle East and North Africa. Investments on the project, which was a joint venture between wasl Asset Management Group and Dubai Airport Free Zone Authority (DAFZA), totaled to AED 4.3 billion.
Dubai CommerCity was launched in Umm Ramool area and was attended by a number of officials and economic leaders in the UAE. The launch was led by the Director General of DAFZA, Dr. Mohammed Al Zarooni as well as the CEO of wasl Asset Management Group.
Using an enormous 3D model of the Dubai CommerCity, Dr. Al Zarouni elaborated on the different constituents, objectives, and implementation stages of the aforementioned project. The project is expected to provide an ideal opportunity for global and regional manufacturers, distributors as well as retailers, aiming to support the e-commerce system locally and regionally.
In a documentary, the project’s construction works and the final form of the dual-stage e-commerce city was presented during the launch. The first stage of the project is set to be completed by the late 2020, whereas the second state is set to finish by the end of 2021.
Meanwhile, the deputy ruler of UAE expressed his admiration for the unique idea, adding that the city make Dubai a pioneer in the sector of knowledge, Islamic Finance, innovation and Artificial Intelligence (AI) in addition to making it a regional hub for e-commerce.
He emphasized the importance of the project’s comprehensiveness with the different systems within the country country such as aviation services, shipping and free trade zones in the UAE, and this will reflect on making UAE the leading country in these fields in the Middle East and North Africa. .
For his part, the Chairman of DAFZA; Chairman of the Emirates Group, Sheikh Ahmed bin Saeed Al Maktoum, said that the project been under the spot light globally since announcing it to the public. Major international companies specialized in e-commerce have been eyeing the project as it is one of the most flourishing sectors, especially in the UAE and Saudi Arabia as well as in the Middle East generally. In 2022, this sector’s worth is expected to increase to 26 billion USD in UAE alone.
Furthermore, Hesham AlQassim; the CEO of wasl Asset Management Group, said that work is underway on Dubai CommerCity, which covers an area of over two million square feet. Al Qassim also pointed out the strategic location of Dubai CommerCity as it is in close proximity to Dubai International Airport.
He added that the city, which will be the first of its kind, has an integrated infrastructure capable of supporting operations of all its investing companies that expect rapid air and sea freight operations. The city also supports a digital system set to regulate the large and growing demand for goods and its related services expected by its clients.
Al-Qassim further added that the city includes 12 modern buildings with three main complexes. The first complex stands out for being a sustainable green-friendly design with wide green expanses and its support for thee green economy. Whereas, the second complex is centered on the logistics, with more than a 100 logistic units in addition to a dual-joint unit to manage expansion operations in the area as well as in the region. The final and third complex forms a recreational community located on a 5000 square meters. This complex caters to art galleries, dining halls, retail outlets and recreational facilities that meet the aspirations of companies wishing to take Dubai CommerCity as its headquarters. Notably, e-commerce in the Middle East, South Asia and North Africa was worth around 51 billion USD in 2017, with an expected growth of 24% in its Compound Annual Growth Rate (CAGR) until the year 2022.