Saturday , February 23 2019

Dubai to get region’s largest ‘Chinatown’


Dubai developer Emaar has announced plans to build the Middle East’s largest Chinatown within the retail district of its mega development Dubai Creek Harbour.
Emaar’s announcement comes ahead of the visit of Chinese President Xi Jinping to the UAE on Thursday and will further strengthen UAE-China relations.
The retail precinct will occupy a central location within the 6 sqkm mega project and will feature local brands and global fashion brands that appeal to Chinese tourists.
The wider Dubai Creek Harbour will feature commercial districts, leisure developments, residential neighbourhoods, parks and Dubai Creek Tower — set to become the tallest tower in the emirate.
The development will also have a marina, a museum and cultural facilities, canals, landscaped promenades, pedestrian walkways and cycle paths.
China is the fourth largest visitor source market for Dubai.

Dubai-China foreign trade rises 6 percent

China retained its position as Dubai’s top trading partner, according to a statistic released by Dubai Customs. Dubai’s foreign trade with China grew by 6 percent to reach AED176.4 billion
in 2017, compared to AED 166.35 billion in 2016.
The most notable growth occurred in Dubai-China re-exports trade is the rise by 60 percent, from AED4.99 billion in 2016 to AED7.97 billion last year.
“The booming two-way trade between Dubai and China is a testament to the deep and exemplary relationship enjoyed by our friendly nations,” said Sultan Ahmed bin Sulayem, DP World Group chairman and CEO and chairman of Ports, Customs and Free Zone Corporation.

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