Dragon Mart Dubai is a popular shopping destination for both tourists and residents alike. The mart boasts of a wide range of products at competitive prices, making it a go-to place for those looking to save some bucks.
But have you ever wondered who owns Dragon Mart Dubai? In this article, we will delve into the ownership details of this mega shopping center.
The Beginning of Dragon Mart Dubai
Dragon Mart Dubai was first established in December 2004. The mart was developed by Nakheel Properties, one of the world’s largest real estate developers based in Dubai. Nakheel Properties is owned by the Government of Dubai through its investment vehicle, Investment Corporation of Dubai (ICD).
Who Owns Investment Corporation of Dubai?
Investment Corporation of Dubai (ICD) is the principal investment arm of the government of Dubai. The corporation has investments in various sectors including finance, transportation, energy, and real estate among others. ICD has been instrumental in the development and growth of various sectors in the economy.
ICD’s Portfolio Companies
ICD has a diverse portfolio with stakes in several prominent companies such as Emirates Group, Emaar Properties, Emirates NBD Bank among others. The corporation also has significant investments outside the UAE such as Borse Istanbul in Turkey and China State Construction Engineering Corporation among others.
Management Team at Dragon Mart
The day-to-day management operations at Dragon Mart are handled by Chinatown Dragon Mart Company Limited (CDMCL). CDMCL is a joint venture between Nakheel Properties and China-based company Yiwu Commodity City Group Co Ltd. Yiwu Commodity City Group Co Ltd is one of China’s largest commodity trading companies.
The Future for Dragon Mart
The future looks bright for Dragon Mart as it continues to attract customers from all over the world. The mart has plans to expand its operations with the development of Dragon City, which will be a mixed-use development consisting of residential, commercial, and entertainment facilities.
In Conclusion
In conclusion, Dragon Mart Dubai is owned by Nakheel Properties which is in turn owned by the Government of Dubai through Investment Corporation of Dubai (ICD). The day-to-day management operations at the mart are handled by Chinatown Dragon Mart Company Limited (CDMCL), a joint venture between Nakheel Properties and China-based company Yiwu Commodity City Group Co Ltd. With plans for expansion in the future, Dragon Mart remains an important contributor to the economy of Dubai.