The United Arab Emirates (UAE) launched Saturday Dubai CommerCity to be the first free zone dedicated to e-commerce in the Middle East and the North Africa region, Xinhua reported referring the UAE state news agency WAM.
Worth 2.7 billion dirhams (735.7 million U.S. dollars), the project is located with an area of 195,096 square meters near the Dubai International Airport and well-connected to major local and national highways, the report said.
The aim of the project is to promote Dubai's position as a "leading platform for international e-commerce and to support economic diversification and smart transformation strategies," WAM added.
It will also accelerate the growth of the e-commerce market, which is expected to reach 20 billion dollars in 2020 among the GCC countries, said the report.