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DUBAI'S YIWU MARKET TO OFFER A NEW EXPERIENCE FOR TRADERS AND SHOPPERS
Through exemptions in management fees and reduced product prices, the first phase of the Dubai Traders Market will serve as a launch pad for its tenants
Dubai’s new Yiwu Market is all set to open its doors on 28 June. As the first smart free zone market in the Middle East, it will cater to the retail and wholesale industries.
Yiwu Market is the first phase of the Dubai Traders Market in the Jebel Ali Free Zone (Jafza) that aims to revolutionise the trading experience for traders and consumers through its unique offerings. Spanning over an area of 200,000 square metres, the market houses 1,600 mainland showrooms, out of which 99 per cent of them are already occupied. These showrooms are spread across two floors and are categorically divided into different sections, namely, electronics & appliances, furniture & lighting, beauty & accessories, tools & hardware (including auto spare parts), kitchen & bath, bedding, curtains, and clothing.
The market comprises 324 warehouses spread across two floors. The warehouses are located right behind the showrooms, enabling the easy supply of products to the showrooms, thus eliminating the impact of low-stock-delays on outbound trade. Additionally, each warehouse has a dedicated loading dock, providing complete logistical support for the seamless movement of goods.
Abdulla Bin Damithan, CEO & Managing Director, DP World UAE & Jafza said: “As part of a nation that is regarded as a leading global trade hub, the responsibility is on us to ensure that we make the best out of our strategic advantages and elevate its status to greater heights. Our innovative initiatives, and advanced trade and logistics solutions have successfully cemented Jafza as an ideal destination for traders and businesses. Yiwu Market is one such solution we devised for our local traders and consumers. We saw the need for a marketplace where goods can be stored, sold, imported, and exported; all in one place, without additional charges and with the greatest possible ease. We are very optimistic about how it will enhance the trading experience for our traders and shoppers.”
Added advantages of the marketplace
One of the most prominent advantages Yiwu Market offers to its customers is its close proximity to Jebel Ali Port and Al Maktoum International Airport. This enables customers to easily transport goods to and from their warehouses through multiple channels in a cost and time-efficient manner.
Yiwu Market also offers significant value-added services to its tenants and shoppers. For the first 27 months after the opening of the market, tenants will not be required to pay a management fee. This is in addition to the relatively low license cost due to the market’s location within Jafza, and the reduced logistics costs for import and export due to its proximity to sea and air transport channels. This results in lower shelf prices for consumers, making Yiwu Market ideal for both, traders and buyers.
The ‘Yiwu Connect’
What truly helps Yiwu Market stand out is ‘Yiwu Connect’, a dedicated area that allows cross-border networking and information exchange between traders in Dubai and factories in China. In addition to directly connecting local traders with Chinese factories without the need of a middleman, ‘Yiwu Connect’ will also allow these traders to inspect the goods for quality assurance before importing them to the Dubai Yiwu Market. This service, at a time of unprecedented supply chain problems, will give customers a new level of quality assurance.