Nakheel Malls partners with DP World to launch Souk Al Marfa retail hub

Nakheel Malls, the retail arm of developer Nakheel, has launched a new trading and logistics hub in partnership with DP World.

Located in the Deira Islands, Souk Al Marfa will connect with nearby Gulf connections at Mina Rashid, Mina Al Hamriya, and Deira Wharfage, unlocking opportunities for traders to ship and import directly to its 2,500 shops and pavilions.

The development, due to open in April 2021, will include a retail and trading hub stretching almost 2km along the waterfront, operating 365 days a year.

Souk Al Marfa plans to offer growth opportunities for traders, providing 100% foreign ownership benefits, as well as no restrictions on currency movement and logistical benefits in warehousing, office space, and ancillary retail.

Dubai is the world’s third-largest re-exporting hub, serving the Gulf Corporation Council (GCC), Africa, Iraq, and Yemen.

Omar Khoory, Chief Hospitality and Assets Officer at Nakheel, said, “Dubai excels in the movement of goods globally through its ports facilities, but we uncovered an opportunity for SME traders at a wholesale level.

“Souk Al Marfa will bridge this gap and provide a vibrant centralized trade experience and a new stream of economic activity.”

Deira Islands, Nakheel’s new mixed-use waterfront city, aims to transform the emirates oldest trading hub into a tourism destination. The development added 40 km to Dubai’s coastline.

Mahmood Al Bastaki, COO at Dubai Trade World, commented that the launch of Souk Al Marfa “will further enhance” wholesale trade capabilities in Dubai.

He added, “By partnering with Nakheel Malls we reaffirm our commitment to provide global supply chain solutions and enhance cargo logistics in the region.

https://www.porttechnology.org/news/nakheel-malls-partners-with-dp-world-to-launch-souk-al-marfa-retail-hub/