Ecommerce project Dubai CommerCity to open by the end of 2020

Tuesday 26 May 2020 11:10 CET | News

The Dubai CommerCity project, a free trade zone for ecommerce that aims to be a hub for online retailers, has been scheduled for opening by the end of 2020.

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. 

Besides, Dubai Economy has announced that 943 'DED Trader' licences were issued in Q1 of 2020, meaning an increase of 179% over the same period in 2019, as online shopping gained fresh momentum following the COVID-19 outbreak in the UAE and worldwide. 

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Keywords: UAE, Dubai CommerCity, ecommerce, Dubai Airport Freezone Authority, DAFZA, Wasl, DED Trader licences, online shopping, Free Trade Zone, COVID-19
Categories: Payments & Commerce
Countries: United Arab Emirates
This article is part of category

Payments & Commerce