Post by : Mariam
Al-Faris
Under the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, the development of the Dubai Auto Market has commenced, intending to establish the world's largest and most sophisticated automotive trading hub. The inauguration event was attended by H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, and Minister of Finance.
Spanning 22 million square feet, this initiative is being led by DP World, recognized for its superior logistics skills and extensive global network, ensuring robust connectivity. The visual identity of the Dubai Auto Market was also launched, symbolizing the ambitious vision driving this landmark project.
H.H. Sheikh Maktoum underscored the project's importance, stating it will solidify Dubai’s status as a premier economic and commercial center globally. The Dubai Auto Market will serve as a hotspot for automotive enthusiasts and investors, integrating state-of-the-art infrastructure with DP World’s international logistics network.
The Dubai Auto Market is crafted as a comprehensive destination, featuring advanced amenities that encompass over 1,500 showrooms, designated workshop areas, warehouses, and multi-level parking facilities. It will also include a convention center, hotel, auction house, and various retail and dining establishments. Capable of managing more than 800,000 vehicles each year, the market is set to become one of the largest global hubs for automotive products.
Sultan Ahmed bin Sulayem, Group Chairman and CEO of DP World, remarked that the Dubai Auto Market is a pivotal development in Dubai's strategy to emerge as a global trade leader. He mentioned that DP World’s worldwide network, combined with their automotive supply chain knowledge and Ro-Ro services at Jebel Ali Port, will elevate regional trade and stimulate Dubai’s economic expansion. Abdulla bin Damithan, CEO and Managing Director of DP World GCC, stated that this market will provide a full ecosystem for automotive requirements, setting fresh standards within the sector.
The launch event, hosted at Jumeirah Emirates Towers, gathered senior officials including Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, Nasser Al Neyadi, CEO of Ports, Customs and Free Zone Corporation, and Dr. Abdullah Busenad, Director-General of Dubai Customs. Representatives from DP World and other governmental organizations were present.
The Dubai Auto Market will be a vital spot for investors and industry professionals to discover, express interest, and share insights. It will organize exhibitions, specialized zones for automotive gatherings, and facilitate the trade of new and used vehicles, including electric and hybrid models. The market aims to link exporting nations to Africa, the Middle East, and Southeast Asia, strengthening Dubai's position in the global automotive sector.
With passenger car sales and re-exports in the UAE projected to nearly double by 2030, the Dubai Auto Market is strategically positioned to spur this growth. Utilizing DP World’s extensive network of 77 ports and 15 automotive transshipment hubs, which account for 10% of the global automotive trade, the initiative aims to increase sales of AED 6.8 billion.
Dubai is already celebrated as the Gulf region's premier automotive trading center, with the Jebel Ali Free Zone housing over 940 automotive and spare parts firms, including big names like Ford, General Motors, Honda, Hyundai, Mitsubishi, Nissan, Volkswagen, and Volvo. The collaboration between Dubai Municipality and DP World will guarantee effective management and operations of the Dubai Auto Market, integrating economic zones, industrial hubs, and advanced logistics solutions.
The Dubai Auto Market is poised to become a crucial player in global automotive trade, investment, and innovation, manifesting Dubai's aspiration to maintain its status as a leader in commerce and economic growth.
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