Silva announced his farewell on Monday in an emotional video message on Chelsea's website
football2 hours ago
Dubai on Saturday announced the launch of a new free zone dedicated to the fast-growing e-commerce industry to attract more foreign direct investment as the industry is projected to cross Dh73 billion by 2020.
The Dubai CommerCity - located in the Umm Ramool area near Dubai airport - will cater major regional and international manufacturers to store their goods, products and spare parts in state-of-the-art, fully-equipped, technology-enabled warehouses, to be shipped later to local markets in record time via e-commerce.
A joint venture between the Dubai Airport Free Zone Authority (Dafza) and wasl Asset Management, more than Dh2.7 billion will be invested in the development of the free zone.
Sheikh Ahmed bin Saeed Al Maktoum, chairman, Dafza, emphasised that free zones play strategic roles locally and regionally in enhancing global trade routes and supply chains.
Ambareen Musa, founder of Souqalmal.com, said a free zone just for e-commerce shows how important this sector is to the country.
A first-of-its-kind project in the Mena region, the project has been divided into three clusters spanning a total area of 427,000sqm inclusive of office spaces and logistics units covering 207,000sqm. It will have a total leasable area of 176,000sqm and 220,000sqm for infrastructure and parking areas respectively. The free zone will have 4,000 parking slots.
Euromonitor International figures show that the UAE and the GCC's e-commerce markets are projected to grow 38 per cent and 29 per cent year on year basis to reach Dh6.6 billion and Dh16.882 billion, respectively. An AT Kearney report had predicted the GCC's e-commerce market would touch Dh73.4 billion by 2020.
waheedabbas@khaleejtimes.com
Silva announced his farewell on Monday in an emotional video message on Chelsea's website
football2 hours ago
Protest organizers deny accusations of anti-Semitism, arguing that their actions are aimed at the Israeli government
world2 hours ago
Images published on the weekend showed Bollywood superstar actor Shah Rukh Khan sweating profusely while watching his team train
cricket2 hours ago
Al Ghadeer has offered the highest ROI of 7.65 per cent for affordable houses
realty2 hours ago
Customer deposits and Islamic customer deposits increased by 2.5% to reach Dh39.5 billion
business2 hours ago
Bayern Munich will face Real Madrid in the first leg of the Champions League semifinal on Tuesday
football3 hours ago
Company’s mobile customer base grew 5.7% year-over-year to 8.7 million subscribers
telecom3 hours ago
UK foreign secretary says the proposal includes 40-day pause in fighting and release of thousands of Palestinian prisoners and Israeli hostages
world3 hours ago