Dubai Airport Free Zone Authority (DAFZA) has formed a joint venture with Wasl Asset Management Group to create a Dhs2.7bn ($735.1m) free zone for e-commerce firms.
Dubai CommerCity will span 2.1 million square feet in the Umm Ramool area close to Dubai International Airport and offer e-commerce firms logistical advantages due to its links to air, land and sea routes, according to the announcement.
Dubai CommerCity, a joint venture between @DAFZAOfficial & the Wasl Asset Management Group is the first free zone dedicated to e-commerce in the MENA. The AED 2.7-billion project will stretch over a 2.1 million square feet area in Umm Ramool. #Dubai pic.twitter.com/9EPfNlzkfq
— Dubai Media Office (@DXBMediaOffice) April 8, 2018
It will be the first zone dedicated to e-commerce in the Middle East and North Africa.
“Dubai CommerCity will drive the growth of the e-commerce sector in the region, which is expected to reach about $69 by 2020 in the Middle East and $24bn in the GCC alone,” said Amna Lootah, assistant director general – finance, commercial and customer relations division foster of DAFZA Innovation and Future Unit.
“The e-commerce free zone will stay abreast of the sector’s progress by developing unique infrastructure and by offering products, services and solutions in line with the regional market requirements. This will be also based on local and global expertise to guide relevant companies towards growth and prosperity according to a clear vision and carefully considered plans.”