With 99 per cent of its 1,600 showrooms already occupied, the first phase of the Dubai Traders Market is set to revolutionise the trading experience of businesses in the UAE

Scheduled to open soon in the Jebel Ali Free Zone , Yiwu Market will be the first smart free-zone market in the Middle East to cater to the retail and wholesale industries.

The market is a result of a partnership between DP World and the China Commodity City Group which built and manages the world’s largest wholesale market in China for small commodities, spanning over 6 million square metres, and attracting nearly 210,000 daily visitors.

Dubai’s Yiwu Market spans over 200,000 square metres, split between 324 customs-bonded warehouses and 1,600 mainland showrooms. Currently, 99 per cent of the showrooms are already occupied.

The AED 600 million investment is just the first phase of the Dubai Traders Market (DTM). It will enable businesses to access wholesale discounts with reduced supply chain costs and turnaround times by leveraging Dubai’s strategic location, and DP World’s advanced logistics solutions.

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It has also enabled efficiency in terms of procurement, fulfilment, and final sale. With DTM’s Yiwu Market, we hope to build on these strengths. On completion, the Market will catalyse trade and the seamless movement of goods, and lower supply chain costs. Additionally, since China is one of our key trade partners, the Market will reinforce economic and trade cooperation between the UAE and China.

Ahmad Al Haddad, Chief Operating Officer, Parks and Zones, DP World UAE

Digital Trade, Logistics Proximity

The market offers a dual free zone and onshore environment to its customers. It allows the movement of goods directly from the airfield or quayside into storage areas, thus avoiding any additional customs charges. Yiwu Market will also establish a dedicated international logistics line between the Dubai Yiwu Market and the China Yiwu Market to allow competitive costs and seamless distribution across the region.

Through its collaboration with DP World’s Dubai Trade, Yiwu Market aims to digitise the trading process for its customers. The services include secure payment portals for e-transactions, maintenance of online inventories, custom declarations, as well as hassle-free cargo gate clearances.

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We believe that businesses operating in Dubai’s trade sector will benefit greatly from the advanced end-to-end solutions of Yiwu Market. The market’s showrooms and warehouses make it an ideal solution for all trading needs. Companies can now benefit from storage and logistics facilities, as well as enhanced reach to their buying audience, thus connecting them to key markets around the world.

Qiuming Zhang, General Manager, Yiwu Market

Trade bridges

Yiwu Market will serve as a trade bridge between the UAE and markets across the globe. By accommodating the facilities of international brands, the market will act as a regional buffer for their products in case of disruptions to the supply chain and ensuring demand for these products can continue to be satisfied.

The benefits offered by Yiwu Market also include 100 per cent foreign ownership, 100 per cent foreign repatriation of capital and profits, and no tariffs for re-export. Its proximity to Jebel Ali Port and Al Maktoum International Airport allows easy access to air and sea transportation. Moreover, the Yiwu Market has emphasised its commitment to sustainability, installing over 11,835 square metres of solar panels on eight out of ten blocks of its warehouses. This will satisfy over 20 per cent of the market’s power needs.

 

Yiwu Market, the first smart free zone market in the Middle East, has opened in Dubai.

Based in the Jebel Ali Free Zone (Jafza), the market caters to the retail and wholesale industries and is part of the first phase of the Dubai Traders Market, a 550-hectare marketplace within Jafza.

The market had its soft opening on Tuesday. Here is all you need to know about the new market:

What exactly is it and where is it in Dubai?

With 200,000 square metres of space, the market houses 1,600 mainland showrooms across two floors.

The showrooms are divided into different sections, namely, electronics and appliances, furniture and lighting, beauty and accessories, tools and hardware (including vehicle spare parts), kitchen and bath, bedding, curtains and clothing.

There are 324 warehouses behind the showrooms, allowing for the easy supply of products to the showrooms. Each warehouse has a dedicated loading dock to enable the seamless movement of goods.

Yiwu Market is located close to Expo City in Dubai.

Why has it been built?

A result of a partnership between DP World and the China Commodity City Group, Yiwu Market was set up in line with the UAE’s plans to ease supply chain shortages after the coronavirus pandemic.

Customers are able to easily transport goods to and from warehouses through several channels in a manner that is cost and time-efficient due to its proximity to Jebel Ali Port and Al Maktoum International Airport.

For the first 27 months, tenants will not be required to pay a management fee. Reduced logistics costs due to the location will result in lower shelf prices for consumers, the Dubai Traders Market said.

Yiwu Market will also establish an international logistics line between the Dubai Yiwu Market and the China Yiwu Market to lower costs and make distribution seamless across the region.

The free zone market allows foreign investors to wholly own their ventures and fully repatriate capital and profits. There are no tariffs on the re-export of products.

What have the officials said?

“As one of the leading global trade and logistics hubs, Jafza has helped traders maximise opportunities by giving them access to 60 per cent of the world’s GDP [gross domestic product] through air, sea and road transport,” said Ahmad Al Haddad, chief operating officer for parks and zones at DP World UAE.

“Since China is one of our key trade partners, the market will reinforce economic and trade co-operation between the UAE and China.”

Abdulla bin Damithan, chief executive and managing director of DP World UAE and Jafza, said there was a need for a marketplace where goods could be stored, sold, imported and exported easily, without the need for additional charges.

What links are there to China?

Yiwu China Commodities City is the world’s largest wholesale market. It consists of more than 75,000 showrooms, with 2.1 million separate products.

To replicate its success in the GCC, a part of the team was flown in from Yiwu Market China.

The local Yiwu Market will allow Chinese goods to enter the emirate at competitive costs and be distributed across the Middle East, Africa, Europe and the Mediterranean, the Dubai Traders Market said.

China, the world’s second-largest economy, was the UAE’s top trading partner during the first quarter of 2022, with trade between the two countries at Dh57 billion ($15.52bn).

Yiwu is a city of about two million people and was believed to have more than 10,000 Arabs living there about a decade ago.

Arab businessmen turned it into a modern Silk Road trade route between China and the Middle East.

The Middle East is a major part of Beijing’s Belt and Road Initiative.

 

More:

Dubai’s 200,000sqm Yiwu Market is scheduled to open soon in JAFZA

Yiwu Market will establish a dedicated international logistics line between the Dubai Yiwu Market and the China Yiwu Market to allow competitive costs and seamless distribution across the region