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Dubai, Feb.16th,2006 (WAM) -- A new industrial area under Jebel Ali Free Zone Authority (Jafza) is being set up in Dubai at a cost of Dh2 billion to house companies dealing in vehicles and related service and spare parts industries.
"The purpose is to create a specialised marketplace for the automobile business. We hope to have manufacturers, traders, suppliers and end-users in one place," Jafza vice-president for marketing Hamza Al Haddad told Gulf News yesterday.
The Dubai Auto Zone is being developed for an investment of more than Dh2 billion, Al Haddad said, adding, "The details are still being finalised." Dubai Auto Zone will consist of a free zone to attract foreign direct investment, a specialised economic zone to cater to the GCC market, and a retail zone to serve the local market.
Located in Ruwaya on the Dubai Bypass Road, the zone will attract investment in showrooms, supply depots and other similar facilities. The project is due to be completed by the end of 2007. The master plan will be ready by the third quarter of this year, and afterward the plots will be allocated to those registered in the zone.
"Jafza is home to hundreds of companies from the auto industry involved in assembly and trade of heavy machinery, automotive, spare parts, tires, batteries, electrical equipment and other products. However, due to the high demand in the auto industry, Dubai Auto Zone has been created to accommodate the growing market," according to a Jafza statement.
Dubai Cars and Automotive Zone (Ducamz) a Jafza-managed complex established with the aim of promoting re-exports of used cars to Asian and African countries will continue to remain in business after the creation of Dubai Auto Zone, Haddad said.
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