Dubai – Mubasher: Shaikh Ahmad Bin Saeed Al Maktoum, Dubai Airport Freezone Authority (Dafza) chairman, has opened the AED 2.7 billion ($735 million) Dubai CommerCity, a joint venture between Dafza and wasl Asset Management Group.
Located in the Umm Ramool area and situated on 2.1 million square feet, Dubai CommerCity is the first e-commerce free zone in the MENA region, according to the Emirates News Agency (WAM).
“Dubai CommerCity will enhance the role of e-commerce as a key driver of Dubai’s sustainable economy,” WAM stated, citing Mohammad Al Zarouni, Dafza’s director general, as saying. The top official further added that Dafza will apply its experiences and services, which are based on comprehensive studies, on the future of e-commerce in the MENA region.
Dubai CommerCity is projected to ”accelerate the growth of the e-commerce market, which is expected to reach AED 73.4 billion ($20 billion) in 2020 in the GCC countries” and will be implemented on two equal phases, WAM reported.
“Dubai CommerCity has a clear-cut plan to attract more foreign direct investments (FDI) through an integrated portfolio of products and services according to the highest international standards,” the UAE’s news agency concluded.
