Yiwu Market, a new mall for affordable Chinese goods, has now opened in Dubai. This first smart free zone market in the Middle East promises to be economical for buyers, wholesalers and retailers.
According to the Dubai Media bureau, DP World and the China Commodity City Group, which runs the world’s largest wholesale market in China, have partnered to build Yiwu Market in Dubai. This is the first phase of the Dubai Traders Market in the Jebel Ali Free Zone (Jafza) where traders and consumers can expect a new experience.
Spreading over an area of 200,000 m², it houses 324 warehouses, 1,600 continental exhibition halls and is spread over two floors. They are divided into different sections, like electronics and appliances, furniture and lighting, beauty and accessories, tools and hardware, kitchen and bath, bedding, curtains and clothes.
— Dubai Media Office (@DXBMediaOffice) June 26, 2022
Abdulla Bin Damithan, CEO and MD, DP World UAE and Jafza, said, “Our innovative initiatives and advanced trade and logistics solutions have succeeded in making Jafza an ideal destination for traders and businesses. Yiwu Market is one such solution we have designed for our local merchants and consumers. We saw the need for a market where goods can be stored, sold, imported and exported; all in one place, at no extra cost and with the greatest possible ease. We are very optimistic about how this will improve the trading experience for our merchants and buyers. »
Yiwu Market is located near Jebel Ali Port and Al Maktoum International Airport, which is one of the advantages it offers to its customers. This allows them to easily transport goods to and from their warehouses through multiple channels in an economical and timely manner.
The Yiwu market also offers important value-added services to its tenants and buyers. For the first 27 months after market opening, tenants will not be required to pay management fees. This is in addition to the relatively low license cost due to the market location in Jafza and the reduced logistics costs for import and export. This translates into lower prices for consumers, making Yiwu market ideal for traders and shoppers. Furthermore, the initiative will also serve as a bridge for trade between the UAE and international markets.