Dubai is already the headquarters of the region’s largest e-commerce company, Souq.com, which was bought by Amazon in 2017. It is also home to noon.com, a popular online shopping site.
Foreigners operating outside of free trade zones in Dubai and the wider United Arab Emirates can usually only hold a maximum 49 percent stake, with UAE nationals holding the rest.
The new 920,000 square meter trade zone, known as EZDubai, aimed to attract e-commerce, logistics and other related industries.
EZDubai will be located in the south of the emirate near industrial and residential developments and Dubai’s second airport, Al Maktoum International.