New trading, retail hub launched at Deira Islands

@DXBMediaOffice/ Twitter

Nakheel Malls, the retail arm of master developer Nakheel, has launched Souk Al Marfa in partnership with DP World.

Strategically located at Deira Islands and stretching 1.9 km along the waterfront, the vibrant retail and trading hub is due to open in April 2021.

It is in close proximity with Mina Rashid, Mina Al Hamriya and Deira Wharfage, and has the potential to ship and import directly to its 2,500 shops and pavilions.

Souk Al Marfa will operate seven days a week and 365 days a year, giving UAE citizens, residents and tourists access to a diverse, large-scale shopping destination.

The market will offer traders multiple benefits, including 100 per cent foreign ownership, repatriation of capital and profit, no restrictions on currency movement, logistical ease and ancillary amenities such as warehousing, office space, showrooms, ancillary retail and F&B facilities; all with minimal paperwork.

Deira Islands, Nakheel’s new, 15.3 square km mixed-used waterfront city, is set to transform the emirate’s oldest and most traditional trading hub into a world-class destination for living, tourism, retail and leisure. The development has added 40 km, including 21 km of beachfront, to Dubai’s coastline.

Souk Al Marfa is the second collaboration between Nakheel Malls and DP World to be announced in the last five months. The first, dragonmart.ae, was launched in September 2020.

More from Business News

  • Nasdaq set to confirm bear market as Trump tariffs trigger recession fears

    The tech-heavy Nasdaq Composite index was set to confirm it was in a bear market on Friday, down more than 20 per cent from a recent record high, as investors fled riskier assets on fears that tariffs imposed by President Donald Trump could spark a trade war and tip the global economy into recession.

  • Dana Gas and Crescent Petroleum exceed 500M boe in Khor Mor field

    UAE-based Dana Gas and Crescent Petroleum, alongside their partners in the Pearl Petroleum consortium, have said the cumulative production from their Khor Mor project, the largest non-associated gas field in Iraq, has exceeded 500 million barrels of oil equivalent (boe).

  • China to impose tariffs of 34% on all US goods

    China has announced a slew of additional tariffs and restrictions against US goods as a countermeasure to sweeping tariffs imposed by US President Donald Trump. The Finance Ministry said it would impose additional tariffs of 34 per cent on all US goods from April 10.

  • Shares bruised, dollar crumbles as Trump tariffs stir recession fears

    Stocks limped to the end of the week on Friday, the dollar was set for its worst week in a month while gold flirted with a record peak as investors feared US President Donald Trump's sweeping tariffs would tip the global economy into a recession.

Blogs