Dubai launches AED5.5bn food park
Dubai’s status as the region’s hub for food trade has been reaffirmed as prominent government officials such as Abdulla Al Habbai, the chairman of Dubai Holding as well as HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, and Ruler of Dubai, endorsed the development of a gigantic food park in close proximity to the Expo 2020 site at a projected cost of AED5.5bn.
Food trade has always been a significant factor in the UAE’s economy, constituting 11% of the country’s gross domestic product (GDP). Recent projections reveal that the industry is expected to develop astronomically in the near future, growing by 70% by 2030.
A futuristic facility of this magnitude and scale that aims to assimilate innumerable varieties of food-related services under one roof would help boost the food industry enormously. The planned area of construction is situated within a hair’s breadth of the Expo 2020 site, merely 10 minutes away. This is clearly a strategic manoeuvre, designed to attract and encourage investments.
While the expense of developing such a bold idea into reality may be steep, officials believe it is an intelligent, calculated operation that will reap benefits for the nation.
At its briefing, Al Habbai said: “The park will benefit from Dubai’s world-class infrastructure in land, marine, and air transport; and is set to play a vital role in supporting food security in the country. The development projects by Dubai Holding strongly support the emirate’s economic diversification and are strategically designed to help ensure Dubai is well equipped for the future.”