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
- Dubai Holding - another Dubai government company
- Dubai International Capital - a subsidiary of Dubai Holding, not Dubai World
- Dubai Ports World
- Dubai World debts - problems became highlighted in November 2009 when Dubai World requested a standstill on debt repayments
- Nakheel Properties Dubai - master developer of the offshore islands in Dubai, International City, and Discovery Gardens
- www.dubaiworld.ae - Dubai World website