Announces Strategic Alliance With US-Based Operator Dallas Market Center.
The Investment Corporation of Dubai (ICD), in partnership with Dubai South, announced today the launch of Dubai Global Connect (DGC), a 1 million square meter B2B wholesale market in Dubai which will bring together buyers and sellers to safely and easily trade great goods from all over the world, all year round in one central location. The initial focus will be on three sectors which have been identified as being large enough in size, growing, and relevant
to the region: Furniture & Living, Food, and Fashion.
On its part, DGC has today announced it has entered into a strategic alliance with US-based Market Center Management Company (MCMC) for the development and management of DGC's state-of-the-art permanent showroom environment which will be open year-round to qualified retail buyers and designers, manufacturers, and industry professionals, and can be fitted out by sellers according to their own style and budget. The showrooms will be closed to the public.
H.E. Mohammed I. Al Shaibani, Managing Director of the Investment Corporation of Dubai, explained: "As part of our mandate to enhance Dubai's position as a global, competitive economy, ICD has embarked on the creation of DGC with the vision to build a unique trade infrastructure that enhances efficiencies in global trade flows through Dubai. We are excited to have MCMC on board to support our teams in realizing this vision, as well as in the development and
management of the market."
MCMC has a legacy of sole, private ownership of the Dallas Market Center (DMC), operating in the US for 65+ years, as well as multinational experience involving both ownership and management of wholesale markeplaces including
Brussels International Trade Mart and ShanghaiMart as well as consultation experience on additional projects in Colombia, Vietnam, and Portugal.
Cindy Morris, CEO of MCMC, commented: "We are pleased to be a part of this truly unique opportunity for Dubai to address industry pain points and create an important global destination for wholesale trade. This multi-year agreement aims to foster team collaboration between our companies and ultimately help create a center of commerce for buyers and sellers from around the world."
DGC is unique as it focuses on a global audience in addition to regional audiences to create a truly origin-neutral marketplace to trade goods from all around the world. Traditionally, wholesale markets have focused on promoting
domestic agendas by bringing together sellers of local products with international buyers or by presenting international products to regional buyer groups.
"DGC has been a long time in the making but is even more relevant and needed in today's changed global trade environment. Establishing a controlled, permanent marketplace environment is perfectly timed as event producers and their attendees cope with reduced travel budgets and the need for smaller, more controlled gatherings. DGC enables traders to meet halfway by offering producers and manufacturers a window to the world in a central, easy to reach location, and by providing buyers with a safe buying environment and place of reference that is open all year round." commented Douraid Zaghouani, COO of ICD and Chairman of Dubai Global Connect.
DGC, the "City of Trade", is already under construction, with a purpose-built visitor centre opening in Q4 of 2020. The market is expected to be delivered in phases, with the first phase comprising of 400,000 square meters of dedicated
trade facilities including on-site storage, boutique offices, an innovation hub, and a Smart Service Centre to house third party service providers.
Located at the crossroads of Dubai's logistics corridor, at Dubai South next to Al Maktoum International Airport with a direct connection to the Jebel Ali Port, DGC's physical infrastructure will be supported by best-in-class services
and optimal business solutions at the Logistics District, including a digital wholesale trading platform which will connect wholesale sellers and buyers online and facilitate hassle-free trade through DGC.
For more information please visit: www.dubaiglobalconnect.com
Press Enquiries: Info@dubaiglobalconnect.com
Dubai Global Connect (DGC) is the world's first wholesale market with a global focus. An initiative of the Investment Corporation of Dubai (ICD), the "City of Trade" provides purpose-built facilities and supporting infrastructure in a
year-round, origin-neutral market and expo where global buyers and sellers in furniture & home, food and fashion can connect and trade at scale. DGC is an ecosystem, conveniently located in geographically advantageous Dubai, dedicated to the growth of the industries it promotes and their global traders.
Market Center Management Company (MCMC) is an international market center and tradeshow management company with more than sixty-year history of development, ownership, consulting and/or management of large-scale B2B wholesale trade centers and associated tradeshows around the world.
The company currently has a global portfolio of 7 million square feet of market center trading space under management.
The Investment Corporation of Dubai (ICD), the principal investment arm of the Government of Dubai, was established in May 2006 by decree (11) of 2006 under a mandate to consolidate and manage the Government of Dubai's portfolio of commercial companies and investments.
ICD has a rich portfolio of assets, both locally and internationally, across a broad spectrum of the sectors that form the blueprint of Dubai's dynamic economy.
About Dubai South
Dubai South is an emerging 145 sq. km. city situated within the emirate of Dubai that will ultimately sustain a population of one million.
Launched as a Government of Dubai project in 2006, the city is mandated to embody the vision of His Highness Sheikh Mohammed Bin Rashed Al Maktoum by manifesting the urban and societal themes as outlined in the Dubai Plan 2021.
Dubai South's economic platform supports every conceivable kind of business and industry. The city is also home to Al Maktoum International Airport and the Expo 2020.
SOURCE: Investment Corporation of Dubai (ICD)
The chief of Iran’s paramilitary Revolutionary Guard threatened Saturday to go after everyone who had a role in a top general’s January killing during a U.S. drone strike in Iraq.
The guard’s website quoted Gen. Hossein Salami as saying, “Mr. Trump! Our revenge for martyrdom of our great general is obvious, serious and real.”
U.S. President Donald Trump warned this week that Washington would harshly respond to any Iranian attempts to take revenge for the death of Gen. Qassem Soleimani, tweeting that “if they hit us in any way, any form, written instructions already done we’re going to hit them 1000 times harder.”
The president’s warning came in response to a report that Iran was plotting to assassinate the U.S. ambassador to South Africa in retaliation for Soleimani’s killing at Baghdad’s airport at the beginning of the year, reports AP.
“We took out the world’s number one terrorist and the mass murderer of American troops and many, many troops and many people all over the world,” Trump said. “Qasem Soleimani is dead. He’s dead. Bad guy. Bad guy. Very bad guy.”
Salami rejected the report of an Iranian plot to assassinate Ambassador Lana Marks, but made clear that Iran intends to avenge the general’s death.
“Do you think we hit a female ambassador in return to our martyred brother?’ the general said. “We will hit those who had direct and indirect roles. You should know that everybody who had role in the event will be hit, and this is a serious message. We do prove everything in practice.”
Also read: Iran unveils 2 new missiles
In January, Iran launched a ballistic missile attack targeting U.S. soldiers in Iraq in response to the fatal drone strike.
Trump has stepped up economic pressure on Iran with sanctions since he pulled the United States out of Iran’s nuclear deal with world powers in 2018.
Tehran has continued to expand its stockpile of enriched uranium and pressured other nations to offset the harm of U.S. sanctions, while insisting it does not want to develop a nuclear weapon.
The Israeli military struck Hamas militant sites in the Gaza Strip early Wednesday in response to rocket fire toward Israel the previous night that coincided with the signing of normalization agreements between Israel and two Arab countries at the White House.
The barrage against Israel began Tuesday night just as the ceremony in Washington was getting underway to formalize the new agreements with the United Arab Emirates and Bahrain. Two Israelis were lightly wounded.
The military said five projectiles landed in open areas with the rest intercepted by Israel’s rocket defense system.
In response, the military said it struck about 10 sites belonging to Gaza’s militant Hamas rulers, including a weapons and explosives manufacturing factory, underground infrastructure and a military training compound.
The renewed exchange offered a stark reminder that the festive events in Washington would likely do little to change Israel’s conflict with the Palestinians.
The bilateral agreements signed by Israel, the UAE and Bahrain, all three signed a document dubbed the “Abraham Accords” after the patriarch of the world’s three major monotheistic religions.
The Palestinians are opposed to the agreements viewing them as a betrayal of their cause by the Arab countries.
Neither President Donald Trump nor Israeli Prime Minister Benjamin Netanyahu mentioned the Palestinians in their remarks at the signing ceremony, but both the UAE and Bahraini foreign ministers spoke of the importance of creating a Palestinian state.
The Islamic militant group Hamas has ruled Gaza since 2007, when it seized power from the internationally-backed Palestinian Authority. Israel and Egypt have imposed a crippling blockade on the coastal territory since then.
Israel and Hamas have fought three wars and several smaller skirmishes since 2007.
A Saudi court issued final verdicts on Monday in the case of slain Washington Post columnist and Saudi critic Jamal Khashoggi after his son, who still resides in the kingdom, announced pardons that spared five of the convicted individuals from execution.
While the trial draws to its conclusion in Saudi Arabia, the case continues to cast a shadow over the international standing of Crown Prince Mohammed bin Salman, whose associates have been sanctioned by the US and the UK for their alleged involvement in the brutal killing, which took place inside the Saudi Consulate in Istanbul.
The Riyadh Criminal Court’s final verdicts were announced by Saudi Arabia’s state television, which aired few details about the eight Saudi nationals and did not name them. The court ordered a maximum sentence of 20 years in prison for the five. Another individual received a 10-year sentence, and two others were ordered to serve seven years in prison.
A team of 15 Saudi agents had flown to Turkey to meet Khashoggi inside the consulate for his appointment on Oct. 2, 2018 to pick up documents that would allow him to marry his Turkish fiancé, who waited outside . The team included a forensic doctor, intelligence and security officers, and individuals who worked directly for the crown prince’s office, according to Agnes Callamard, who investigated the killing for the United Nations.
Turkish officials allege Khashoggi was killed and then dismembered with a bone saw inside the consulate. His body has not been found. Turkey apparently had the consulate bugged and shared audio of the killing with the C.I.A., among others.
Western intelligence agencies, as well as the US Congress, have said the crown prince bears ultimate responsibility for the killing and that an operation of this magnitude could not have happened without his knowledge.
The 35-year-old prince denies any knowledge of the operation and has condemned the killing. He continues to have the support of his father, King Salman, and remains popular among Saudi youth at home. He also maintains the support of President Donald Trump, who has defended U.S.-Saudi ties in the face of the international outcry over the slaying.
Saudi Arabia’s trial of the suspects has been widely criticized by rights groups and observers, who note that no senior officials nor anyone suspected of ordering the killing has been found guilty. The independence of the Riyadh Criminal Court has also been questioned.
Callamard, the U.N. special rapporteur who investigated Khashoggi’s killing, told The Associated Press in a statement that the crown prince has remained “well protected against any kind of meaningful scrutiny in his country” and the high-level officials who organized the killing have walked free from the start.
“These verdicts cannot be allowed to whitewash what happened,” she said, calling on U.S. intelligence services to publicly release their assessments of the crown prince’s responsibility. “While formal justice in Saudi Arabia cannot be achieved, truth telling can.”
A small number of diplomats, including from Turkey, as well as members of Khashoggi’s family, were allowed to attend the initial trial. Independent media and the public were barred.
Yasin Aktay, a senior member of Turkey’s ruling party and a friend of Khashoggi, criticized the final court rulings, saying those who ordered the killing remain free while several questions concerning the journalist’s death remain unanswered.
He also said there were questions as to whether those convicted in the killing are imprisoned.
“According to what we have heard, those who were convicted are roaming freely and living in luxury,” he said. “The truth of the matter is this case should be tried in Turkey, not in Saudi Arabia.”
Saudi Arabia has tried 11 people in total, sentencing five to death in December and ordering three others to prison for covering up the crime. The crown prince’s senior advisors at the time of the killing, namely Saud al-Qahtani and intelligence officer Ahmed al-Asiri, were not found guilty.
The trial also concluded the killing was not premeditated. That paved the way for Salah Khashoggi, one of the slain writer’s sons, to months later announce that the family had forgiven the killers, which essentially allowed the five to be pardoned from execution in accordance with Islamic law.
Salah Khashoggi lives in Saudi Arabia and has received financial compensation from the royal court for his father’s killing.
Saudi Arabia initially offered shifting accounts about Khashoggi’s disappearance, including claiming to have surveillance video showing him walking out of the consulate alive. As international pressure mounted because of Turkish leaks, the kingdom eventually settled on the explanation that he was killed by rogue officials in a brawl inside the consulate.
Prior to his killing, Khashoggi had been writing critically of Prince Mohammed in columns for the Washington Post at a time when the young heir to the throne was being widely hailed in the US for pushing through social reforms and curtailing the power of religious conservatives.
Dozens of perceived critics of the prince remain in prison, including women’s rights activists, and face trial on national security charges. Khashoggi left Saudi Arabia for the U.S. just as Prince Mohammed was beginning to detain writers and critics in late 2017.
Other critics of the crown prince have said their security has been threatened following Khashoggi’s killing. In one instance, a former senior intelligence official who now resides in Canada claims in a US lawsuit that Prince Mohammed sent a similar hit squad to track him down and kill him, but that they were stopped by Canadian border guards.
Saudi Arabia’s King Salman told US President Donald Trump that the kingdom is eager to achieve a fair and permanent solution to the Palestinian issue, which he said was the main starting point of the kingdom’s proposed Arab Peace Initiative.
The leaders spoke by phone following a historic US-brokered accord last month under which the United Arab Emirates agreed to become the third Arab state to normalise ties with Israel, after Egypt and Jordan, the state news agency reported.
King Salman also told Trump that he appreciated US efforts to support peace and that Saudi Arabia wanted to see a fair and permanent solution to the Palestinian issue based on the Arab peace initiative proposed by the kingdom in 2002, reports The Guardian.
Under the proposal, Arab nations have offered Israel normalised ties in return for a statehood deal with the Palestinians and full Israeli withdrawal from territory captured in the 1967 Middle East war.
Saudi Arabia, the birthplace of Islam and site of its holiest shrines, does not recognise Israel.
However, this month the kingdom said it would allow flights between UAE and Israel, including by Israeli airliners, to use its airspace.
White House adviser and Trump son-in-law Jared Kushner has said he hoped another Arab country normalised ties with within months.
No other Arab state has said so far it is considering following the UAE.
King Salman’s son, Crown Prince Mohammed bin Salman, and Kushner discussed the need for the Palestinians and the Israelis to resume negotiations and reach a lasting peace after Kushner visited the UAE last month.
The UAE-Israel deal was met by overwhelming Palestinian opposition.