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Ecommerce

Dubai invests USD 545 mln in ecommerce free trade zone

Thursday 7 February 2019 | 12:46 PM CET

UAE-based state-developer Dubai South has announced that it aims to spend USD 545 million to build an ecommerce free trade zone, known as EZDubai.

According to Reuters, in this ecommerce zone foreign companies will be offered 100% ownership. Foreigners operating outside of free trade zones in Dubai and the wider UAE can usually only hold a maximum 49% stake, with UAE nationals holding the rest.

The new 920,000 square meter trade zone is aimed to attract ecommerce, logistics, and other related industries; the construction is expected to start in 2019.

EZDubai will be located in the south of the emirate near industrial and residential developments and Dubai’s second airport, Al Maktoum International.

More: Link
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