30pc of Dragon City retail space sought for GCC traders
Manama, August 27, 2014
A key committee of the Bahrain Chamber of Commerce and Industry (BCCI) has proposed that 30 per cent of the retail space in the Dragon City be allocated to Bahraini and Gulf business owners, with the remaining 70 per cent set aside for Chinese business owners.
At a meeting, the BCCI's trade and retail sector committee led by Jawad Al Hawaj said it endorsed the project, as it would help revive the domestic economy, said a report in the Gulf Daily News (GDN), our sister publication.
The multi-million dollar Chinese-themed retail development within the Diyar Al Muharraq master-planned project is expected to open in June next year.
It has a gross floor area of about 51,000 sqm, 700 individual retail store spaces, warehousing of 5,000 sqm, a dining street of 6,000 sqm and car parking for 1,500 vehicles.
The mall will offer Chinese products such as home appliances, household items, building materials, furniture, toys, machinery, garments, textiles and footwear.
Developers say it will boost the economy by creating jobs, promoting tourism and supporting local businesses through tie-ups with Chinese manufacturers.
However, hundreds of local traders led by Abdulkarim Al Fulaij, last year launched a campaign against the project, claiming it will result in a loss of business for Bahraini firms as the Chinese flood the market and undercut them on prices.
Since then, discussions have been ongoing at the BCCI on proposals to safeguard the interests of Bahraini business owners. - TradeArabia News Service