Dubai is set to revolutionize the global automotive trade with the new 'Dubai Car Market,' which will be the largest and most advanced car market in the world. Announced on July 4, 2024, this ambitious project will cover over 20 million square feet, reinforcing Dubai's position as a premier destination for car enthusiasts and automotive businesses. DP World will manage construction and logistics, connecting the market to 77 global ports, boosting Dubai's economy, attracting investments, and creating thousands of jobs.

Vision Behind the Dubai Car Market

This initiative showcases the visionary leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. Under his directives, Dubai Municipality and DP World have partnered to bring this colossal project to life, aiming to transform the automotive landscape and elevate Dubai as a global hub for car trading and related services. Sheikh Mohammed highlighted the strategic importance of the market, stating, "The new market will become a global hub that offers commercial services, logistics, and financing solutions for this vital sector. It will also be a premier destination for major conferences and specialized events for car enthusiasts. Dubai will continue to develop new projects as part of its vision to be one of the largest economic and commercial centers in the world."

Key Features of the New Market

The Dubai Car Market will feature state-of-the-art facilities, including new and used car dealerships, showrooms, service centers, auction houses, and spaces dedicated to innovation and technology. This comprehensive approach aims to cater to all aspects of the automotive industry, from manufacturing and trading to after-sales services and technological advancements. Additionally, the market will host large event arenas, making it a focal point for major automotive events and conferences. This will attract a diverse range of stakeholders, including car manufacturers, dealers, service providers, and auto enthusiasts, creating a vibrant ecosystem for the automotive sector.

DP World's Role in the Project

DP World, a leading multinational logistics company, will oversee the construction and management of the Dubai Car Market. With extensive logistical expertise and a global network, DP World is well-equipped to ensure the market's success. The company manages over 430 business units in 86 countries, and the new car market will connect with 77 ports managed by DP World around the globe, enhancing the market's capacity and doubling its current sales of AED 6.8 billion (USD 1.85 billion). Sultan Ahmed bin Sulayem, Group Chairman and CEO of DP World, expressed his commitment to the project, stating, "We aim to leverage our services and expertise in managing economic zones to establish Dubai as a leading destination in the automotive trade sector. We are committed to providing services and infrastructure that keep pace with global developments and meet investors’ expectations."

With this groundbreaking project, Dubai is poised to become a central hub in the global automotive market, driving economic growth and innovation in the region.

​​​​​​​

Technological Integrations and Sustainability

The new car market in Dubai will incorporate cutting-edge technological advancements, such as smart parking solutions, advanced logistics systems, and eco-friendly initiatives, including electric vehicle (EV) infrastructure. These innovations will ensure that the market is not only the largest but also the most advanced, setting a new benchmark for future automotive markets worldwide.

FAQs

Is Dubai a Good Place to Buy a Car?

Absolutely, Dubai is an excellent place to buy a car. The city offers a diverse range of vehicles, from luxury supercars to budget-friendly options. High, tax-free salaries allow many residents to afford premium cars, making Dubai an ideal market for car buyers.

Are Car Prices Cheaper in Dubai?

Yes, car prices in Dubai are generally lower. Factors such as a low tax rate, minimal interest rates on car financing, and affordable fuel prices contribute to the overall lower cost of cars in Dubai.

What is the Largest Car Market in the UAE?

Currently, Souq Al Haraj in Sharjah is the largest car market in the MENA region, featuring over 451 showrooms and various car accessory shops. However, Dubai has announced plans to develop the world’s largest car market, set to surpass all existing markets in size and facilities.