Yiwu market will open on June 28 and includes 1,600 exhibition halls spread over two floors
Yiwu market. Photo: Dubai Media Office
Dubai‘s new Yiwu Market, which will open on June 28 and caters to retail and wholesale markets, promises to be more economical for buyers and traders in the UAE.
First, its proximity to Jebel Ali Port and Al Maktoum International Airport allows customers to easily transport goods to and from their warehouses through multiple channels in a cost-effective and timely manner.
Second, tenants will not be required to pay management fees for the first 27 months.
Third, tenants of Yiwu market enjoy relatively low licensing costs due to its location in Jebel Ali Free Zone Authority (Jafza) as well as reduced logistics costs for import and export due to its location. proximity to maritime and air transport channels.
All of this will likely result in lower shelf prices for consumers in the UAE, making Dubai an even more important place to shop.
How big is the Yiwu market?
Covering an area of 200,000 square meters, the market is home to 1,600 mainland exhibition halls, 99% of which are already occupied. These showrooms are spread over two floors and are categorically divided into different sections, namely Electronics and Appliances, Furniture and Lighting, Beauty and Accessories, Tools and Hardware (including automotive spare parts), kitchen and bathroom, bedding, curtains and clothing.
The market comprises 324 warehouses spread over two floors. Warehouses are located directly behind the showrooms, allowing easy supply of products to the showrooms, eliminating the impact of low stock delays on outbound trade. Additionally, each warehouse has a dedicated loading dock, providing full logistical support for smooth movement of goods.
“We saw the need for a market where goods can be stored, sold, imported and exported; all in one place, at no extra cost and with the greatest possible ease. We are very optimistic on how this will improve the trading experience of our traders and buyers,” said Abdulla Bin Damithan, CEO and Managing Director of DP World UAE and Jafza.
Connecting Dubai traders to Chinese factories
What really helps the Yiwu market stand out is “Yiwu Connect”, a dedicated space that enables cross-border networking and information exchange between traders in Dubai and factories in China.
In addition to directly connecting local traders to Chinese factories without the need for an intermediary, “Yiwu Connect” will also allow these traders to inspect goods for quality assurance before importing them to the Dubai Yiwu market. This service, at a time of unprecedented supply chain issues, will provide customers with a new level of quality assurance.