World's Largest Car Market To Be Established In Dubai
|As part of the project, spanning 20 million square feet, Dubai Municipality has signed a partnership agreement with DP World
Dubai is all set to establish the world's largest and most advanced car market. As part of the project, spanning 20 million square feet, Dubai Municipality has signed a partnership agreement with DP World. The initiative is expected to be a comprehensive global centre offering advanced and innovative automotive services.
DP World has been entrusted with the construction and management of the significant project. Dubai Car Market, part of the Dubai Economic Agenda D33, will provide integrated services, including buying, selling, banking, registration, and logistics. Notably, it will be connected with 77 ports managed by DP World around the globe. The project mainly intends to increase the market space eight times from its existing size of 2.8 million square feet to 20 million square feet. With the expansion, current sales and operations, valued at AED6.8 billion, are also expected to double.
.@MaktoumMohammed: Under the vision of @HHShkMohd and the oversight of @HamdanMohammed, today we witnessed the signing of a partnership agreement between @DMunicipality and @DP_World to develop the largest and best car market in the world in Dubai, covering an area of 20 million… pic.twitter.com/39KQuIGNLa
— Dubai Media Office (@DXBMediaOffice) July 4, 2024
Dubai Media Office mentioned in its report that the project will also be a leading destination for specialised events for car enthusiasts. It will include areas for exhibitions and events, along with recreational, cultural, and commercial zones. The partnership between Dubai Municipality and DP World aims to strengthen the emirate's position as a global innovation and trade centre for the automotive sector.