Dubai, Feb.16th,2006 (WAM) -- A new industrial area underJebel Ali Free Zone Authority (Jafza) is being set up in Dubaiat a cost of Dh2 billion to house companies dealing in vehiclesand related service and spare parts industries.
"The purpose is to create a specialised marketplace for theautomobile business. We hope to have manufacturers, traders,suppliers and end-users in one place," Jafza vice-president formarketing Hamza Al Haddad told Gulf News yesterday.
The Dubai Auto Zone is being developed for an investmentof more than Dh2 billion, Al Haddad said, adding, "The detailsare still being finalised." Dubai Auto Zone will consist of afree zone to attract foreign direct investment, a specialisedeconomic zone to cater to the GCC market, and a retail zone toserve the local market.
Located in Ruwaya on the Dubai Bypass Road, the zone willattract investment in showrooms, supply depots and other similarfacilities. The project is due to be completed by the end of2007. The master plan will be ready by the third quarter of thisyear, and afterward the plots will be allocated to those registeredin the zone.
"Jafza is home to hundreds of companies from the auto industryinvolved in assembly and trade of heavy machinery, automotive,spare parts, tires, batteries, electrical equipment and otherproducts. 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 complexestablished with the aim of promoting re-exports of used carsto Asian and African countries will continue to remain in businessafter the creation of Dubai Auto Zone, Haddad said.
