By: Amr Adel
Dubai – Mubasher: Dubai Wholesale City is expected to be launched in four years, the CEO Abdulla Belhoul said.
“We plan to open Dubai Wholesale City, and receive traders before the launch of Expo 2020 Dubai,” the CEO said in a press conference.
Belhoul noted that the infrastructural works in the wholesale trading hub are expected to be accomplished within one year.
The AED 1 billion worth wholesale city is being executed by UAE’s Port Saeed Transport & Building Contracting Company, which will develop the trading hub in two stages.
The trading hub is seeking the development of relations with commercial and industrial Chinese institutions, Belhoul said, adding that Dubai Wholesale City is in negotiations with other countries to sign partnership agreements.
It is noteworthy that the trade between China and the UAE had value of AED 79 billion during the first six months of 2016.
“We are watching carefully the world’s economic developments including lower oil prices and geopolitical changes in the region,” the CEO told Mubasher, adding that Dubai Wholesale City seeks to transfer such challenges into opportunities.
Translated by: Ingy ElSafy
