Dubai’s new Yiwu Market, which will open on June 28 and cater to both retail and wholesale markets, promises to be more economical for shoppers and traders in the UAE.
Why?
Firstly, its proximity to Jebel Ali Port and Al Maktoum International Airport enables customers to easily transport goods to and from their warehouses through multiple channels in a cost and time-efficient manner.
Secondly, tenants will not be required to pay a management fee for the first 27 months.
Thirdly, tenants at Yiwu Market enjoy relatively low license costs due to its location within free zone Jebel Ali Free Zone Authority (Jafza) as well as the reduced logistics costs for import and export due to its proximity to sea and air transport channels.
All this is likely to result in lower shelf prices for consumers in the UAE, making Dubai an even more important location for shopping.
How big is Yiwu Market?
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 and appliances, furniture and lighting, beauty and accessories, tools and hardware (including auto spare parts), kitchen and 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.
“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,” said Abdulla Bin Damithan, CEO and managing director, DP World UAE and Jafza.
Connecting Dubai traders with Chinese factories
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.
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