Maktoum witnesses launch of Dubai Auto Market development project

Under the directives of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, to develop the Dubai Auto Market into the world’s largest and most advanced of its kind, Sheikh Maktoum Bin Mohammed Bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, witnessed the launch of the Dubai Auto Market development project.

Sheikh Maktoum also witnessed the unveiling of the project's visual brand identity. The landmark project, set to cover an area of 22 million square feet, is being developed by DP World, which was chosen considering its extensive logistics expertise and its global network that ensures exceptional access and connectivity.

Sheikh Maktoum said, "Under the vision and directives of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Dubai continues to solidify its status as one of the world's leading economic and commercial centres.

"The Dubai Auto Market reflects this ambitious vision and is a significant addition that will reinforce Dubai's position among the world’s most prominent and rapidly growing automotive trade hubs, leveraging an advanced infrastructure and a global logistics network, managed by DP World, that spans continents.” He noted, "The Dubai Auto Market is conceived as an all-in-one destination; a global hub for automotive enthusiasts and investors alike. Its state-of-the-art facilities are designed to accommodate expansive showrooms and warehouses, host major international conferences and events and foster a cluster of light industries for vehicle assembly and trade.

The market is set to attract new investment, further driving economic growth and advancing the goals of the Dubai Economic Agenda D33 to double the emirate's economy by 2033 and establish Dubai among the world's top three urban economies.” Sheikh Maktoum was briefed about the project, its objectives, and various phases of development. Once ready, the Market will feature over 1,500 showrooms, clustered workshop zones, warehouses and multi-storey car parking facilities, along with a convention centre, hotel, an auction house, besides F&B and retail areas. The facility is designed to handle more than 800,000 vehicles annually, making it one of the world’s largest and most advanced trade hubs of its kind.

The launch event, held at the Jumeirah Emirates Towers, was attended by Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs; Nasser Al Neyadi, CEO of the Ports, Customs and Free Zone Corporation; Dr. Abdullah Busenad, Director-General of Dubai Customs; alongside a host of senior officials from DP World and other government entities.

On the occasion, Sultan Ahmed bin Sulayem, Group Chairman and Chief Executive Officer of DP World, stated, "Dubai Auto Market represents a significant milestone in our mission to position Dubai as a global trade leader. Our new market will leverage DP World’s expansive global network, automotive supply chain expertise and world-class Ro-Ro capabilities at Jebel Ali Port to enhance regional trade and drive Dubai’s ongoing economic growth. The development of this new hub marks the start of an exciting new chapter for the automotive sector in the region.” Abdulla bin Damithan, CEO and Managing Director of DP World GCC, added, "Dubai Auto Market will be a one-stop destination for all automotive needs. Our goal is to establish a comprehensive ecosystem with world-class infrastructure and a wide range of service offerings that will set new benchmarks in the sector. To do that, we are working closely with the business community and other stakeholders to design state-of-the-art facilities that will cater to the diverse and evolving needs of the industry and lay the foundation for growth.” Investors and industry professionals can visit Dubai Auto Market to register their interest, share feedback and learn more about DP World’s plans to transform the future of automotive trade and reinforce Dubai’s role as a key player in this field, both regionally and globally.

Featuring comprehensive facilities, including exhibition spaces and specialised zones for automotive events, the Dubai Auto Market will become a prime destination for global automotive enthusiasts and industry players.

By facilitating the trade of new and used electric, hybrid and conventional vehicles, Dubai Auto Market will connect key exporting countries to markets in Africa, the Middle East, and Southeast Asia, reinforcing Dubai's position in the global automotive industry.

The new market will provide a comprehensive destination for investors and traders by integrating advanced infrastructure with key on-site facilities, including customs checks, employee accommodation, and entertainment.

With UAE passenger car sales and re-exports projected to nearly double by 2030, Dubai Auto Market will be a key actor to facilitate that growth. Leveraging DP World's extensive global network of 77 ports and 15 automotive transshipment hubs, which currently handle 10 per cent of the world's automotive trade, the expanded auto market is poised to double its sales of AED6.8 billion.

Dubai's status as the Gulf region's leading automotive trading hub and the largest used car market is well-established. The Jebel Ali Free Zone (Jafza) is central to this success and has attracted more than 940 automotive and spare parts companies, including major industry players such as Ford, General Motors, Honda, Hyundai, Mitsubishi, Nissan, Volkswagen and Volvo.

Dubai Municipality has signed a partnership agreement with DP World's Economic Zones sector to establish and manage the Dubai Auto Market. This agreement is part of the strategic cooperation between the two entities aimed at enhancing Dubai's status as a global hub for innovation and trade in the automotive sector. The partnership will draw upon DP World's extensive expertise in developing and operating integrated economic zones, as well as industrial and logistics hubs.

Leveraging its global expertise and management of integrated economic zones, DP World's Economic Zones sector will deliver end-to-end logistics solutions encompassing e-commerce, trade finance, and asset development.

WAM