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The UAE is dotted with business destinations that cater to specific industries or activities (e.g. media, education, information technology, maritime), making it easy for investors to set up shop in the country. One specific location for businesses in the gold and jewellery industry is the free zone Gold & Diamond Park in Dubai.
Enjoying a strategic location along Shaikh Zayed Road, the free zone gives its tenants the advantage of being in the centre of the city, within easy reach of their target markets. It also provides the companies within its turf with a wide access to land (it is near a metro station), air (Dubai International Airport and Al Maktoum International Airport) and sea (Jebel Ali Port is located minutes away) transport networks.
About 90 retailers make up the Gold & Diamond Park, whose facilities are not only designed to meet the requirements of jewellers but also entrepreneurs in other fields. The business park offers over 100 jewellery manufacturing units that allow customers/shoppers to have their own designs fashioned out of raw materials right in the zone, modern fitted and shell and core offices in different sizes, ample parking areas and round-the-clock security. The lease terms for the facilities can run until five years.
Aside from shops selling gold and and diamond jewellery, Gold & Diamond Park also houses a supermarket, exchange house, salon, gym, specialty shops, ATM, and even a play centre and learning institutes. It also has a handful of restaurants and cafes, enough to satisfy the demand of every shopper and visitor.
Being a free zone, startups or companies establishing their branch office at Gold & Diamond Park get to enjoy the usual free zone benefits of zero duties and taxes, and 100% ownership.
• Gold & Diamond Park gives tenants a huge logistical advantage
• Aside from jewellery shops, it also houses service outlets, cafes
• Being in the city centre makes it convenient, easily accessible
Source: Ellen Joyce Soriano
The writer is a freelancer