Construction starts on $8.1bn Dubai Wholesale City mega project
22 November, 2016
Dubai Wholesale City, the largest wholesale hub in the world, has announced the beginning of excavation works as construction of the AED30 billion ($8.1 billion) project gets underway. Dubai Wholesale City said in a statement that it has appointed Port Saeed Transport & Building Contracting Company to execute site works, which will include levelling, grading and excavating, spanning over 135 million sq ft. In March, Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister, and Ruler of Dubai, launched the project which is set to span over 550 million sq ft in total. The new development aims to increase the UAE’s share of the global wholesale trade sector, which is valued at $4.3 trillion and expected to grow to $4.9 trillion in the next five years.