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14. March 2008 by admin.
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13. March 2008 by admin.
Dubai Auto Parts City Free Zone
Free Zone (DAPC)
The setting up of a zone for auto parts, called Dubai Auto Parts City (DAPC), aiming to boost the re-exports of auto parts from Dubai.
As per rough estimates, Dubai currently re-exports Dh300 to Dh400 worth of spare parts annually.
Overall investments in the new ‘Dubai Auto Parts City’ in Al Aweer could total Dh1 billion, according to senior sources. The first phase alone, work on which would start in six months, would entail investment of around Dh400 million.
The project, with the active support of Dubai Customs, is expected to be completed in 2004, by which time the tenants will start moving in. Khatib & Alami has been appointed as project consultants. The project has been split into three phases.
The funding will be pulled in from the auto parts businesses wishing to have a presence in the zone. Tenants will have to pay Dh65 per square foot or plus.
The Dubai Government has provided 12 million square feet of land. It will charge 0.40 fils a square foot as rent from the tenants for the first 15 years.
Apart from spare parts, businesses with interests in tyres, auto batteries, and accessories are also eligible to take part.
Apart from auto traders and Dubai Customs, banks, clearing and forwarding agencies, and transport companies will have bases at the facility.
Dubai’s trade in automotive parts is conservatively valued at Dh3.5-5 billion annually. Around 50-60 per cent ends up as re-exports.
The newly formed Auto Parts Merchants Group has embarked on a membership drive. It hopes to rope in about 150 members within the next few weeks.
Good information from uae free zones
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