Dubai will build a AED30 billion (USD8.2 billion) wholesale "city" which the emirates believes will become the world's largest wholesale hub. The development, would span more than 550 million square feet (51 million square meters) near the emirate's seaport and new airport, underlines Dubai's intention to push ahead with large projects despite a slowing regional economy. Dubai Wholesale City aims to raise the UAE's share of the global wholesale trade sector, which is expected to grow from USD4.3 trillion to USD4.9 trillion over the next five years. The development will include specialised trading parks and an international trade exhibition facility. It will be home to more than 15,000 wholesale traders. (Reuters)