Dubai Wholesale City has undertaken a survey with food traders, importers and exporters with the aim to join forces in supporting UAE food security.
Headed by Abdulla Belhoul, chief executive officer of Dubai Wholesale City, the survey team contacted more than 25 senior representatives of the most prominent companies within the sector.
Belhoul said: “The UAE is a major regional hub for food imports and exports. We are seeking to reinforce the country’s regional and international status through Dubai Wholesale City’s collaboration with the biggest players operating in this vital field that serves the interests of national food security and maintains market stability across the region.
“Our current aim is to get traders and other stakeholders on board and gather their opinions on the optimal development of the City in order to fulfill current and future market needs, and boost export and re-export operations to unprecedented levels.”
Aiming to increase the UAE’s share of the global wholesale trade sector, Dubai Wholesale City is set to span over 550 million ft2, with an estimated development cost of AED 30 billion over ten years.
The future world’s largest wholesale hub will comprise specialised integrated trading parks catering to all the wholesale traders’ needs under one roof, as well as an international trade exhibition facility, country pavilions and an e-commerce platform.
Explaining the philosophy behind the project, Belhoul added: “In line with UAE’s strategy of diversifying the national economy away from reliance on oil, we aim to become a major destination for wholesale traders worldwide.
“By offering smart and integrated services, implementing advanced infrastructure and providing efficient logistic support through the biggest network worldwide, the city will truly transform the global wholesale trade platform.”
Food consumption rates in the UAE are expected to rise at an annual rate of 3.5%.
Belhoul explained that the country has sufficient food supplies available to guarantee the stability of the local markets, thus ensuring healthy competition and price stability.
Once up and running, Dubai Wholesale City is planning to contribute to increasing strategic stock levels, which in turn will allow re-exports to exceed current volumes.
Discussions with food wholesalers have confirmed that food security requirements call for the development of the current markets.
It is also necessary to seek effective solutions to a number of challenges facing traders at the moment, such as increasing rents, need for storage space, parking lots, loading and offloading facilities, as well as other issues concerning storage and refrigeration equipment and its cost.
Belhoul said the city will come up with a solution for staff accommodation since current facilities rarely offer suitable housing in the vicinity, and accommodation and transportation of workers is therefore one of the main issues that plague traders, costing them time and money.
Dubai Wholesale City recently announced is accepting applications from companies and traders interested in booking space at the integrated development.
In addition to a wide range of amenities, such as banking, customs and insurance services, the city will house medical laboratories, licensing, hygiene and waste management facilities.
Dubai Wholesale City is a fully integrated trading hub that aims to meet the needs of the local and international wholesale trading sector.
The destination is projected to emerge as the world’s leading wholesale trading hub and strengthen the UAE’s position as a pivotal market in global trade.
