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ICD Announces Dubai Global Connect

Wholesale Trade Market for Dubai, in Development

SCP’s Project Monitor

 

A wholesale trade market for Dubai is now under development, to propel Dubai as a destination for global players in wholesale trade.   Investment Corporation of Dubai (“ICD”) is creating the one million SF wholesale mart, to be named Dubai Global Connect (“DGC”).

 

Also known as “The City of Trade,” the DGC is a next economic development program for an emirate well-known for such innovations.   The facility will boost Dubai as a global destination for players active in wholesale trade.  ICD is a sovereign wealth fund of the United Arab Emirates.

 

The initial focus of the BtoB wholesale market will be in three industry sectors:   furniture and living, food, and fashion.  Wholesale markets around the world offer permanent showroom spaces that are open to qualified retail buyers and designers, manufacturers, and industry professionals, and can be fitted-out by sellers according to their own style and budget. The showrooms are closed to the general public.

 

Market Center Management Company, Ltd. (Dallas) has signed on in strategic alliance with DGC for the development and management of the facility.  MCMC operates ShanghaiMart, Trade Mart Brussels, and Dallas Market Center.

 

ICD’s announcement and a description of this wholesale trade market for Dubai, is covered in a recent article by Arabian Business: Dubai unveils plan for giant B2B wholesale market

Dubai Announces Innovative Retirement Program for those Over 55 Years Old

SCP’s The Growth Monitor

 

Dubai is known for its innovative economic development programs, and with its announced retirement program it has again matched its reputation.   Retiring in Dubai can be an attractive proposition for many given the city’s open-door policy, tolerance, and quality of life.    This particularly economic development strategy successfully leverages existing regional assets with a new target market (retirees).

 

“Retire in Dubai,” the first of its kind in the GCC region, is being spearheaded by Dubai Tourism in collaboration with the General Directorate of Residency and Foreigners Affairs (GDRFA-Dubai).  Dubai’s program is focused upon resident expatriates and foreigners over the age of 55 who are seeking to retire.   Eligible applicants will be provided a retirement visa, renewable every five years, provided they can meet one of three financial requirements for eligibility.  The eligibility can be based on either a minimum monthly income, savings, or the value of the Dubai owned property.

 

More details about the program were detailed in an Arabian Business article of September 3, 2020:  Dubai launches retirement programme for over-55s.

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