Tuesday 22 January 2019
Souq.com, the UAE-based e-commerce site that was acquired in 2018 by Amazon for USD 583 million (AED 2.13 billion), announced that it has opened a new ‘fulfillment center’ in Dubai. The 23,000 square meter facility is its third in the country and will create 600 permanent jobs within the first year of launch, the company said. Similar centers were opened in the UAE in 2010 and 2017.
Souq is riding the wave of increased e-commerce activity in the region, particularly in the UAE, which has been ranked as the fourth most prepared among developing economies for B2C e-commerce, according to the United Nations Conference on Trade and Development’s UNCTAD B2C E-commerce Index 2018.
The logistics sector in Dubai South, a master-planned city built around Al Maktoum International Airport, is seeing double-digit growth year-on-year, with companies investing to build more facilities and capacity in Dubai.
These flexible and adaptable legislations and specialized clusters empower new business models and drive entrepreneurship, even as Dubai’s strategic advantages for global trade and supply chain efficiency serve the interests of foreign investors looking for opportunities in the growing e-commerce ecosystem in the Middle East and North Africa region.