Dubai launches $1.5b food park project



A $1.5 billion (AED5.5b) Dubai Food Park project has been unveiled in the 550-million square feet Dubai Wholesale City. The new project was launched in the presence of Dubai Ruler Sheikh Mohammed and is set to enhance the emirate’s competitiveness as “leading regional hub in the food sector and food stuffs re-exports”. In a series of tweet, the Dubai Media Office said that the modern and integrated food park will provide all food-related services under one umbrella. The food park will be unique for its strategic location and ease of access through all marine, air and land ports,” it said. No details were given on when will work start on the project. In November 2016, Dubai Wholesale City announced the beginning of excavation works at the project after awarding enabling works contract to Port Saeed Transport and Building Contracting Company. Set to attract $8.1 billion (AED30bn) in investments, the city, which includes an industrial park, will offer facilities to meet the dynamic needs of the region’s thriving trade, manufacturing and logistics sector. The Dubai Wholesale City will 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.

Source : http://www.arabianbusiness.com

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