Nakheel & Chinamex announce the Grand Opening of 'Dragon Mart'

H.H. Sheikh Mohamed Bin Rashid Al Maktoum to inaugurate 'Dragon Mart' with China's Deputy Minister of Commerce Wei Jian Guo in attendance

Dubai December 5, 2004 - Chinamex, the world's largest trading platform for Chinese manufactured goods outside China, will launch its Middle East operations on December 7^th at a formal ceremony to celebrate the grand opening of its landmark 'Dragon Mart' permanent exhibition center in International City in Al Warsan, which is being developed in partnership with Nakheel, the premier real estate developer in Dubai, and Jebel Ali Free Trade Zone Authority.  The 'Dragon Mart' pavilion will house thousands of Chinese industrial enterprises offering tens of thousands of quality assured goods. The grand opening announcement was made at a press conference at the Shangri-La Hotel attended by China's Consul General to the United Arab Emirates, H.E. Yang Weiguo; China's Deputy Director General of the Department of Foreign Economic Cooperation of the Ministry of Commerce of the People's Republic of China, H.E. Zhao Chuang; Chairman of China Business Council, Chinamex Middle East Investment & Trade Promotion Centre FZCO and Chinamex FZCO, Mr. Hao Feng; Nakheel Executive Chairman, H.E. Sultan Ahmed Bin Sulayem and other senior Chinamex and Nakheel executives.

'We firmly believe that the opening of 'Dragon Mart' will transform trade relations between China and the rest of the world,' said Mr. Hao Feng. 'For the first time in history traders and importers from throughout the Middle East, Africa, South Asia and Eastern Europe will have direct permanent access to thousands of China's best manufacturers under one roof in Dubai. Our aim is to facilitate the trading process. By bringing our companies closer to our global markets, by removing middle men and by reducing time and travel factors, we hope that this will translate in to significant savings for our business partners and make trading with China a pleasure. We believe that 'Dragon Mart' is a model for future trading platforms.' Mr. Hao Feng added that the 'Dragon Mart' includes extensive warehousing facilities, leading-edge logistics support and financing services.

The 'Dragon Mart' complex will be inaugurated at 12:30 p.m. on Tuesday, December 7^th by His Highness Sheikh Mohamed bin Rashid Al Maktoum, Crown Prince of Dubai and Defense Minister of the UAE. Mr. Hao Feng announced that China's Deputy Minister of Commerce, H.E. Wei Jian Guo will be present for the inauguration and will meet with press representatives after the inauguration ceremonies.

The 'Dragon Mart' pavilion is the very first building to open within International City, the dramatic 800 hectare complex destined to be a world-class hub for international investors, traders and retailers from around the world. The 'Dragon Mart' extends for 1.2 kilometers across 50 hectares, covering 150,000 square meters of space divided in to several commercial and service areas and including an office complex and business centre. The Dragon head is a 2-storey structure measuring 18 meters high, 220 meters long and 210 meters wide.

"The setting up of 'Dragon Mart' in Dubai symbolizes the rising importance of China in the Middle East regional scenario. China's image as an exporter has changed remarkably over the past few years, boosted by dramatic improvement in quality and innovation, making China one of the most sought-after providers of world-class products and services at globally competitive prices. 'Dragon Mart' will assemble some of the best Chinese companies and suppliers under one roof, for the benefit of the entire region and especially the UAE, which is one of the largest trading partners of China," said Bin Sulayem, Executive Chairman, Nakheel.

The opening of 'Dragon Mart' is the fruition of years of cooperation between Dubai and Chinese Businesses.

'Dragon Mart' has been established as a strategic partnership between Chinamex Middle East Investment & Trade Promotion Centre FZCO and the Jebel Ali Free Zone Authority.

'Dragon Mart'  is the largest commercial platform for Chinese manufactures outside China. It is part of International City in Dubai, United Arab Emirates, one of Nakheel's many iconic projects which include The World, The Palm and many others, which are the embodiment of Dubai's dream for tomorrow. 'Dragon Mart' is a joint venture between Chinamex Middle East Investment and Trade Promotion Centre FZCO and Jebel Ali Free Zone Authority aimed to establish a large-scale economic and trading platform for the Middle East, Africa, South Asia and Europe. 'Dragon Mart' is comprised of a 1.2 kilometer dragon-shaped pavilion covering an area of 150,000 m designed to house thousands of qualified Chinese manufacturing enterprises, allowing importers from around the world easy access to an extraordinary range of Chinese industrial products, complete with logistics and financial support systems.

International City is located in Al Warsan, just 12 kilometers from Dubai's International Airport and it is a dramatic new complex that is destined to be a world-class hub for international investors, traders and retailers from around the world. The themed environment of residences, business opportunities and tourist attractions is expected to be completed at the end of 2006. When completed, International City will cover an area of 800 hectares of land and will comprise six key areas including The Central District, Dubai Design Centre, The 'Dragon Mart', The Residential District, Lakes District and the Forbidden City.

-Ends-

For More Information Please Contact:
Salma Kanaan or Majdi Al-Ayed
TRACCS Public Relations
Tel: 9714 - 3672530
Fax: 9714 - 3672531
Email: salma@traccs.net / majdi@traccs.net
URL: www.traccs.net

© Press Release 2004