The pivotal role that Dubai developer Nakheel plays in the UAE’s strong ties with China was under the spotlight when a Chinese delegation visited the company’s headquarters on Tuesday.

The group, led by Guo Bai Chun, Vice Mayor of YinChun City, was welcomed to Nakheel by Chairman Ali Rashid Lootah for discussions on collaboration and investment opportunities around Dragon City.

Nakheel’s sprawling, expanding International City development , adjacent to Dragon City, is the heart of Dubai’s Chinese community: more than 50,000 of Dubai’s 200,000 Chinese expatriates (one in four) live there and 300 have invested in property there.

In addition, more than 1,700 Chinese traders operate some 4,500 businesses at neighbouring Dragon Mart. The biggest Chinese trading hub outside China, the complex recently doubled in size with the opening of Dragon Mart 2 and is undergoing further expansion to include two residential towers, a second hotel, and more retail space, which is already fully leased to Chinese traders. The expanded development will be called Dragon City.

Other Nakheel master developments and destination projects, including Palm Jumeirah and the upcoming Deira Islands coastal city, are key to Dubai’s growing number of Chinese tourists. More than 450,000 visited last year, with 525,000 expected annually by 2023.

Source:WAM