DUBAI: In keeping with tradition of superlatives, Dubai is set to create the largest and most advanced car market in the world with the new ‘Dubai Car Market’ project. This initiative aims to enhance Dubai’s position in the global automotive trade sector.
A partnership agreement has been signed between Dubai Municipality and DP World to develop and manage the market, which will span 20 million square feet. DP World will use its extensive logistics expertise and global network to ensure the market’s success.
The new market will expand the current size eightfold, creating a global hub connected to 77 ports worldwide. This expansion is expected to double the current sales of AED6.8 billion, offering comprehensive services including buying, selling, registration, banking, and logistics.
In addition to being a marketplace, the market will become a prime location for major automotive events and conferences, catering to car enthusiasts and investors. This initiative aligns with the Dubai Economic Agenda D33, which aims to double Dubai’s economy and position it among the world’s top three urban economies by 2033.
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The agreement between Dubai Municipality and DP World focuses on enhancing Dubai’s role as a global center for innovation and trade in the automotive sector. The project aims to provide top-notch services to meet the needs of investors and traders, bolstering Dubai’s global investment appeal.
DP World will be collaborating on this ambitious project and is committed to offering the best logistical and technological solutions to support the market’s success. The market will expand from 2.8 million to 20 million square feet, providing advanced automotive services and connecting to global markets through DP World’s network. Hosting major automotive events, the market will be a destination for experts, companies, and car enthusiasts, further enhancing Dubai’s infrastructure and services to support both the local and global economy.
