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 square feet.
In March, Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister and Ruler of Dubai, launched the project which is set to span over 550 million sq ft.
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.
Port Saeed Transport & Building Contracting Company’s scope also includes constructing a 15km dual carriageway that connects two major highways in the UAE – Mohammed Bin Zayed Road and Emirates Road – which complements a number of projects undertaken by the Roads and Transport Authority, to create a wider roadmap to Expo 2020 site. More info