Ferrari Grows 4x In City With 14 Billionaires, Low Tax

Story ByMichael Leidig, Sub EditorJoseph GolderAgencyCentral European News

Video Credit: CEN/@yallamotor

Ferrari cars are selling so well in oil-rich Dubai that one company has just built a showroom four times bigger than the last – and made it into a club for owners of the flash motor as well.

Oil was first discovered in Dubai 50 years ago, and it has since become a global hub for luxury tourism building some of the tallest buildings in the world and a police force famously equipped with nothing other than luxury cars.

Dubai which is one of the seven Emirates that make up the United Arab Emirates (UAE) includes several thousand companies as there are no corporate taxes except on oil companies and banks, and there are 14 billionaires living in the city.

Picture Credit:CEN/YallaMotor

Local Ferrari importer Al Tayer Motors said that it is no longer a car showroom as demand was so great, and the building is now also a “Ferrari Clubhouse” where wealthy well-heeled Ferrari owners can gather together as a community and enjoy their “love of the brand”.

On the ground floor there is the showroom with the entire Ferrari selection, and a client lounge with a private coffee bar. There are also numerous high-tech showrooms allowing customers to virtually create the Ferrari that they want. It includes everything down to fine detail like the type of leather or other upmarket interiors.

The new showroom which is now one of the largest in the world was opened in Dubai by the company, which is the official approved importer of Ferrari in the UAE.

It is located in the Al Manara area of the city on Sheikh Zayed Road, and covers an area of 3,642 square metres, making it four times larger than the previous one.

The company’s CEO Ashok Khanna said: “We are incredibly excited to officially open our new, state-of-the-art Ferrari showroom here in Dubai.

And Ferrari’s CEO Far East and Middle East business, Dieter Knechtel, said: “We are truly proud of this outstanding facility; a new Ferrari flagship in one of the most vibrant cities in the world.”

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