UAE business hub eyes Chinese businesses amid ‘very, very strong’ China ties
- Expo City Dubai is eyeing Chinese firms to take up residency at the one of the newest business hubs in the UAE amid China’s growing ties with the Middle East
From start-ups to universities, a Dubai government-backed developer has increased efforts to lure Chinese businesses to set up shop at one of the city’s newest business hubs, as it seeks to ride on China’s growing economic momentum with the Middle East.
Chinese tenants are expected to be one of the biggest groups of foreign businesses taking up occupancy at Expo City Dubai, with the venue set to complement the nearby Al Maktoum International Airport and the Dubai Exhibition Centre to form the a one-stop hub that combines logistics, international conventions, business and residential facilities in the most populous city in the United Arab Emirates (UAE)
“Within the next year or so, I suspect [the number of] Chinese companies would grow anywhere to 200 plus to have set up their trade licence and operating licence out of Expo City and beyond, and I say this as a very conservative estimate … some of our business partners are estimating over 400,” Manal al Bayat, chief engagement officer at Expo City Dubai, told the Post.
Chinese artificial intelligence start-up Terminus, electric vehicle charging solutions company Shahin and state-owned logistics company Sinotrans are among the 40 firms that have already set up in the district.
The developer is also in discussions with two universities in China, as well as Chinese law firms, to take up residence on the site, which spans 4.38 square kilometres (1.7 square miles) – equivalent to more than 600 football fields.
