DP World enters joint-venture with Chinese company to develop a Traders Market in Jebel Ali

DP World PLC has partnered with Zhejiang China Commodity City Group Company Ltd (CCC) to develop the ‘Traders Market’ in Jebel Ali Freezone (JAFZA).

The project, of which DP World will hold a majority share in the 70/30 joint venture, will span approximately 800,000 sq m with Phase 1 development covering around 220,000 sq m.

Construction of Phase 1 is expected to take 24 months to complete, scheduled to start in the fourth quarter of 2019, and Phase 1 Capex is estimated at US$150m.