According to Zawya, ecommerce in Dubai has grown substantially, thanks to the initiatives taken by the governments amid the COVID-19 pandemic. Therefore, Dubai CommerCity, the joint venture between Dubai Airport Freezone Authority (DAFZA) and property developer Wasl, is scheduled to open by the end of 2020. CommerCity will make use of the fast-growing ecommerce, market which is expected to grow 13% to USD 26 billion by 2022. Moreover, the GCC market will account for USD 11 billion and the UAE will contribute USD 4.6 billion to the regional ecommerce industry, Zawya reported.
The first buildings are forecasted to be opened and occupied in November 2020, with staged openings until the project is completed, in 2023. CommerCity will house 12 buildings, including a business cluster, a logistics centre and a social centre, while offering no corporate tax, no income tax, 100% foreign ownership, full repatriation of capital and profit, and no currency restrictions.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now