The Vice President of the UAE, Prime Minister, and Ruler of Dubai, Sheikh Mohammed Bin Rashid Al Maktoum, has directed the establishment of the "Dubai Car Market" to be the largest and best of its kind in the world, contributing to solidifying Dubai’s position as one of the most important and rapidly growing cities in the global automobile trade.
In response to his directives and the follow-up of Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai and Head of the Executive Council, Sheikh Maktoum Bin Mohammed Bin Rashid Al Maktoum, the First Deputy Ruler of Dubai, Deputy Prime Minister, and Minister of Finance, witnessed the signing of a partnership agreement between Dubai Municipality and DP World to create and develop the Dubai Car Market, which will span 20 million square feet. The creation of this new market has been entrusted to DP World, leveraging its extensive logistical expertise and its ability to connect with all parts of the world through its network of over 430 business units in 86 countries.
Sheikh Mohammed Bin Rashid Al Maktoum stated: “We have directed today to entrust the Dubai Car Market to DP World and to increase its current area by eight times to reach 20 million square feet, making it the largest and best car market in the world. We are working on connecting the market with 77 ports around the world managed by DP World to enhance its capacity and double its current sales.” He added: “The new market will serve as a global hub for commercial services, facilities, logistical solutions, light industries, and financing for this important sector... and a destination for hosting major conferences and specialized events for car enthusiasts... Dubai will continue to develop economic and developmental projects to be one of the largest economic and commercial centers globally.”
The directive by Sheikh Mohammed Bin Rashid to establish the Dubai Car Market as the largest and best in the world is a new step that enhances Dubai's standing as a global trade center, especially given the advanced capabilities the emirate enjoys, making it the top economic destination regionally across various economic sectors.
In turn, Sheikh Maktoum Bin Mohammed Bin Rashid Al Maktoum emphasized that Sheikh Mohammed Bin Rashid's vision and directives form the foundation from which developmental processes in Dubai launch. He stated: "We are working through the ambitious vision of His Highness Sheikh Mohammed Bin Rashid to enhance Dubai’s position as a global economic center through strategic initiatives. The establishment of the Dubai Car Market as the largest and best in the world represents a qualitative addition through which we aim to provide a comprehensive investment environment that supports sustainable economic growth." He added: “This initiative will accelerate progress toward achieving the goals of the Dubai Economic Agenda D33, which aims to double the emirate’s economy and transform it into one of the top three economic cities by 2033... and we seek to enhance various economic and commercial sectors by benefiting from Dubai’s strategic location and logistical capabilities to support the local economy with new job opportunities and investments.”
### Partnership Agreement
Sheikh Maktoum Bin Mohammed Bin Rashid Al Maktoum witnessed the signing of the partnership agreement between Dubai Municipality and the Economic Zones Sector of DP World to establish and manage the new market. This agreement comes as part of the strategic cooperation between the two parties to enhance Dubai’s position as a global center for innovation and trade in the automotive sector, relying on the extensive experience DP World has in developing and operating integrated economic zones and industrial and logistical complexes.
Under this partnership, the Economic Zones Sector of DP World, through its expertise and management of integrated economic complexes in many countries worldwide, will provide comprehensive logistical solutions that encompass e-commerce, commercial financing, and asset development.
### First Destination
Sultan Ahmed Bin Sulayem, Chairman and CEO of DP World, stated that the cooperation between government and private institutions contributes to supporting Dubai's national economy. He said: "We are proud to collaborate with Dubai Municipality in this ambitious project... We are keen to leverage our services and expertise in managing economic complexes to establish Dubai as the first destination in the automotive trade sector... We will continue our commitment to providing the best logistical and technological solutions to support this project."
He continued: "We are committed to providing the best services and infrastructure that align with global developments and meet investors' aspirations. We recognize the importance of this project in enhancing the local economy and achieving sustainable growth, and we will work to provide all the resources and capabilities that ensure the success of the project and its objectives." Ahmed Bin Sulayem concluded by saying that their partnership with Dubai Municipality reflects their commitment to offering the best solutions and services that meet market needs and contribute to achieving their future vision. He added: "We are excited about this opportunity and strive for sustainable successes that enhance Dubai's position as a global center for innovation and trade in the automotive sector.”
### Ambitious Vision
For his part, Dawood Al Hajri, Director General of Dubai Municipality, stated that the signing of the partnership agreement with DP World represents an important step towards achieving Dubai's ambitious vision for developing the car market to be the largest and best worldwide... and we are keen through this promising project to provide the best services and facilities that meet investors’ and traders’ needs, thereby enhancing Dubai’s position as a primary investment destination in the automotive sector.
Al Hajri added: "Through this project, we aim to strengthen infrastructure and develop integrated services that contribute to supporting the local economy and achieving sustainable growth. We recognize the importance of providing advanced and innovative services that keep pace with global developments and meet investors’ aspirations. The establishment of the Dubai Car Market will enhance our capacity to attract foreign investments and contribute to reinforcing Dubai’s status as a global center for innovation and trade." He concluded by stating that the partnership with DP World reflects their commitment to providing the best solutions and services that meet market needs and contribute to achieving their future vision. They aim to realize sustainable successes that contribute to economic development and enhance Dubai's status on the global stage.
### Doubling the Area
This promising project aims to expand the current market area from 2.8 million square feet to 20 million square feet, thereby making it eight times its current size. The market will be developed to become a comprehensive global center offering advanced and innovative services in the automotive sector.
This figure is expected to double in the upcoming phase due to extensive expansion in infrastructure and services offered. The new market will provide innovative government and banking services and will be connected to global markets through DP World's network, enhancing ease of access and trade with a vast array of countries and economic destinations.
Additionally, the market will enhance its position as a global marketplace for light vehicles, classic and luxury cars, and spare parts trade. It will also provide ample exhibition space, warehouses, and multi-story parking with the latest standards and specifications, alongside light industries related to vehicle trading and vehicle assembly and modifications.
The market will feature many vital facilities such as customs inspection, staff accommodations, recreational areas, and more, making this market comprehensive in terms of infrastructure, facilities, and services.
### Venue for Automotive Events
The new market will be developed to be a center for hosting major automotive events and specialized conferences, making it a preferred destination for car enthusiasts and investors alike.
The market will include designated areas for exhibitions, conferences, and events that bring together leading experts and global companies in the automotive field, enhancing its capacity to host international events and making it a preferred destination for car lovers and investors. It will also be comprehensively developed to include recreational, cultural, and commercial areas that meet the needs of visitors and investors.
The Dubai Car Market project is one of the strategic initiatives contributing to achieving Dubai's future vision. The new project represents a step towards realizing the Dubai Economic Agenda D33 by enhancing innovation and trade, reflecting Dubai’s commitment to providing the best infrastructure and services to support the local and global economy, as the market will offer a range of integrated services including buying, selling, registration, as well as innovative banking and logistical services, according to the Emirates News Agency "WAM."
