All about the Yiwu Market Dubai in JAFZA
The first smart ‘freezone market’ in the Middle East, Yiwu Market, opened in Dubai recently as a partnership between the China Commodity City Group and DP World. Located in Jebel Ali Free Zone (JAFZA), the aim of setting up this market with an investment of AED 600 million was to ease the supply chain shortages which have hampered the market since the start of the coronavirus pandemic.
So, what does the first phase of the Dubai Traders Market in the Jebel Ali Free Zone has in store? Let’s find out more about Yiwu Market JAFZA.
YIWU MARKET GUIDE
Part of the first phase of Dubai Trader Market, the 550-hectare Yiwu Market will have 1,600 showrooms across two floors, 2,000 parking spaces and 324 warehouses.
At the Yiwu Market Dubai, showrooms are divided into the following sections.
- Electronics and appliances
- Furniture and lighting
- Beauty and accessories
- Tools and hardware
- Kitchen and bath
- Bedding
- Curtains and clothing
These showrooms will be connected via long corridors. The six-meter high ceiling will ensure that the space is not congested and traders and customers will have a comfortable experience.
Behind the showrooms are warehouses ensuring the rapid supply of products. Every warehouse has a dedicated loading dock, so transferring items rapidly would be possible. The ultimate goal is to maximise efficiency in the supply chain processes.
Furthermore, Yiwu Market DAFZA will have cafes, restaurants and other amenities. So, after a long day of shopping, you can stop by for a quick bite or some entertainment.
WHY INVEST?
There are certain benefits businesses that operate in Yiwu Market JAFZA shall enjoy.
- Cost and time-effective supply chain processes because of Jebel Ali Port and Al Maktoum International Airport in proximity.
- For the initial 27-month period, tenants will not pay a management fee.
- The link between Yiwu Market Dubai and Yiwu Market China will reduce costs and ensure seamless distribution.
- Direct connection with the Yiwu China Commodities City. With more than 75,000 showrooms, it is the world’s largest wholesale market.
- Access to 100,000 manufacturers in China.
- Complete foreign ownership.
- Zero tariffs on re-exporting.
- Zero corporate tax, 0% personal income tax and 0% tariffs and VAT.
- Customs duty is applicable if goods are sold to the local market.
- Low showroom rental fees (Starting at AED 9,000 per year for 18 sqm).
- Infrastructure is present in and around the market including roadways and public transport.
WHAT ARE THEY SAYING?
Ahmad Al Haddad, the Chief Operating Officer for parks and zones at DP World UAE, highlighted how JAFZA helps traders gain access to the market.
“As one of the leading global trade and logistics hubs, Jafza has helped traders maximise opportunities by giving them access to 60 per cent of the world’s GDP [gross domestic product] through air, sea and road transport,” he said.
“Since China is one of our key trade partners, the market will reinforce economic and trade co-operation between the UAE and China,” he added.
Abdulla bin Damithan, Chief Executive and Managing Director of DP World UAE and JAFZA, stressed that there was a need for a marketplace where storing, selling, importing and exporting products was possible without any extra expense.
FAQS
WHERE IS THE YIWU MARKET LOCATED?
This smart freezone market is located in the Jebel Ali Free Zone (JAFZA), near the Expo 2020 site.
I HAVE A QUERY. HOW CAN I GET IN TOUCH WITH THE YIWU MARKET MANAGEMENT?
For any queries, you can call +971-4-801-0008.
WHERE CAN I READ MORE ABOUT FREE ZONES IN DUBAI?
Here’s our list of free zones in Dubai. If you are considering opening a company in a free zone, read our guide to opening a company in DAFZA. Skilled professionals can also consider DAFZA Talent Pass.
That concludes our look at Yiwu Market Dubai. The opening of the market will reinforce Dubai’s position as a leading global trade hub besides opening opportunities for business and trade leading to increased employment and profitability for companies.
Cover Image Credit: Yiwu Market Official Website
