HH Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE, and Ruler of Dubai, launched US$1.5bn food park project at Dubai Wholesale City, aiming to boost the emirate?s position as the region?s leading food sector market for food stuffs? re-export
Dubai Holding, global investment holding company, will be responsible for the development and management of the proposed food part.
The company said that the park will offer all categories of food-related services including modern infrastructure and ancillary services which will spread across 48mn square feet of space in the 550mn square feet Dubai Wholesale City.
The project will also include a central wholesale market to serve the retail, hospitality and food service sector, a logistics area, an area for complementary services such as packing, repacking and processing and a dedicated area for handling packaged goods.
?Dubai food park has been established to meet the growing demand from the food sector in the UAE and the region, triggered by population growth and the development of the tourism sector,? said Abdulla Al Habbai, chairman of Dubai Holding.
He further added, ?There is an increased need for specialised logistical services that ease supply chain costs, as well as for more dedicated spaces to accommodate the fast growing operations of food companies in Dubai.?
Currently, the food trade makes up 11 per cent of the UAE's GDP, with the food industry estimating to grow by 70 per cent to US$6.2bn by 2030. According to the government statistics, Dubai imports around 85 per cent of its foodstuff needs. The current cost of import stands at US$100bn and is expected to increase more than US$400bn by 2025 with population growth.
Al Habbai noted that through the development of food park, the country seek to provide an advanced infrastructure to meet current and future needs of this food sector, supporting the food security in the UAE.
The food park is projected to host accommodation for the employees as well as a centre for government services including customs, clearance, licensing, food safety and supervision.
