The station was inaugurated in March 2011 and was expected to handle over 4,000 passengers daily. It is the last stop on the Red Line, and has a total handling capacity of 11,000 passengers per direction. It is the only metro station that is built on the ground, and is not elevated or underground.
The station was previously called Jebel Ali, before it was renamed in June 2015 to UAE Exchange following an agreement between Dubai's Roads and Transport Authority (RTA) and UAE Exchange. The naming agreement was inked as part of RTA's rebranding strategy.