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Dubai World

Tuesday 27 June 2017 (UAE)   
 
   
 

Dubai World - Dubai Government Holding Company

Dubai World (not to be confused with DP World or Dubai Ports World) is a holding company created by the Dubai government in 2006 with a portfolio of government owned entities (including DP World).

  • Chairman is Sultan Ahmad Bin Sulayem. And according to a WAM report 08 January 2010, "H.E. Sultan bin Sulayem, Chairman of Dubai World, is still holding his position," in case anyone was wondering.
  • Chief Executive Officer (CEO) of Dubai World is Mohammad Sharaf.
  • At launch of company in July 2006, quoted slogan was "The sun never sets on Dubai World".
Subsidiary companies of Dubai World
  • Drydocks World (Dry Docks World)
  • Dubai Maritime City
  • Dubai Ports World (DP World) and P & O - spending $3 billion expanding port facilities in Turkey, India, Djibouti, China, Vietnam and Peru.
  • Economic Zones World (EZW)
  • Inchcape Shipping Services - British based, bought by Istithmar in early 2006, has 247 offices in 50 countries.
  • Istithmar - property and investments including the following:
    • 280 Park Avenue, New York (paid $1.2 billion in early 2006).
    • Loehmann's Holdings, a US fashion retailer (signed $300 million agreement to buy).
    • Perella Weinberg Partners, a financial services firm (part ownership with $100 million investment).
    • One Trafalgar Square, London (paid $274 million).
    • Spicejet, an Indian budget airline (part ownership with $50 million invested).
    • Time Warner - owns 2% through subsidiary Istithmar Media Investments.
  • Istithmar Hotels - hotel investments including
    • Knickerbocker Hotel, Times Square, New York (paid $300 million).
    • Kerzner Group which owns luxury resort brands One and Only and The Atlantis (partial investment).
    • easyHotel - $400 million franchise agreement to build 38 hotels in 17 different countries.
  • Jebel Ali Free Zone Authority (JAFZA) which manages/operates
    • Djibouti Free Zone
    • Jebel Ali Free Zone in Dubai
    • Port Klang Free Zone in Malaysia
  • Limitless - real estate developer in Dubai with projects including
    • Downtown Jebel Ali - flagship project in Dubai
    • Karachi Waterfront - $20 billion project in Pakistan, area 25,000 hectares
  • Nakheel Properties - developer of The World and the three Palm Islands. Has $30 billion worth of projects on the go which will add 1500 km of coastline to Dubai. Also building the first 5 star hotel in Djibouti.
Last update Monday 30-Aug-2010
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