Dubai Announces Partnership to Develop the World's Largest Car Market

Dubai Municipality and DP World have signed a groundbreaking partnership agreement to develop the world's largest and most advanced car market in Dubai, as announced by Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Dubai's Deputy Ruler, Deputy Prime Minister, and Minister of Finance. This significant development was revealed through a post on his official social media account on X.

The new car market, set to span a massive 20 million square feet, will offer innovative government and banking services, making it a comprehensive hub for the automotive industry. Sheikh Maktoum emphasized that the market will be connected to global markets through the extensive network of DP World ports, integrating Dubai further into the global car trade.

This new facility is not just a marketplace but also aims to host major events and specialized conferences in the automotive world, transforming it into a global destination for car enthusiasts. Sheikh Maktoum stated, "We aspire to host the most important events and conferences in the automotive world, making it a global destination for car lovers."

The ambitious project aims to expand the market's capacity and double its current sales, linking it with 77 ports around the world managed by DP World. This strategic move is designed to accelerate Dubai's ambitious economic agenda, known as D33, which aims to double the size of the emirate's economy and position it as one of the top three global economic cities by 2033. Sheikh Maktoum articulated this vision, stating, "We aim to accelerate the achievement of Dubai's ambitious economic targets, making it one of the top three economic cities globally by 2033."

The new car market is a cornerstone of Dubai's D33 economic agenda, which is focused on significant economic expansion and enhancing the emirate's status as a global trade hub. This agenda includes ambitious goals to double the economy's size and establish Dubai as a central player in global commerce.

By linking the car market with DP World's global network, Dubai aims to create a seamless integration with international trade routes, thereby enhancing its strategic position in the global car market. This integration is expected to significantly boost trade and tourism in the region, making Dubai a key destination for car enthusiasts and industry professionals alike.

The project underscores Dubai's commitment to diversifying its economy and leveraging its strategic location to become a global leader in various sectors, including the automotive industry. The establishment of this vast car market is expected to attract significant international interest, driving further economic growth and positioning Dubai as a leading global automotive hub.

The partnership between Dubai Municipality and DP World marks a significant milestone in Dubai's economic development. The new car market is set to become a pivotal component of the emirate's economic landscape, enhancing its global economic status and making it a premier destination for the automotive industry. As Dubai continues to pursue its ambitious economic goals, this project will play a crucial role in achieving the emirate's vision of becoming one of the top three economic cities in the world by 2033.