U.S. News

Some of Dubai World's Major Holdings Around Globe


Here's a look at some of the holdings of Dubai World, the investment arm of the Dubai government, which is seeking a six-month delay in payments on some of the $60 billion it owes.

  • DP World, a subsidiary of Dubai World, is a leading operator of port facilities worldwide that was created after the purchase of London-based Peninsular and Oriental Steam Navigation Co. in 2006. U.S. authorities objected to DP World taking over P&O-run ports in the United States, and those operations were eventually sold. DP World operates in nearly 50 ports across Asia, Africa, Europe, Australia and South America, including such key maritime gateways as Hong Kong, Pusan, South Korea, and Southhampton in Britain.
  • Nakheel, also part of Dubai World, isa major property developer, whose projects include Dubai's iconic man-made palm-shaped island and a man-made archipelago shaped like the continents. The global economic downturn has suspended many significant Nakheel projects such as a tower designed to surpass the height of the world's tallest, the Burj Dubai, which was built by another state-backed developer and is scheduled to open in January.
  • Istithmar World Capital, a private equity and investment wing, whose global holdings include the upscale retailer Barneys New York.
  • Leisurecorp, a golf development company, that is the major force behind the new "Race to Dubai" -- the world's richest golf tournament with a $7.5 million purse that ended the European Tour this month at the Jumeirah Golf Estates. Leisurcorp's portfolio also includes Turnberry in Scotland and Pearl Valley Golf Estates in South Africa.
  • CityCenter, an $8.5 billion casino complex in Las Vegas, is a joint venture between Dubai World and casino operator MGM Mirage . The 67-acre development of plush resorts, condominiums, a retail mall and one casino on the Las Vegas Strip will start opening in phases on Tuesday. MGM Mirage said Friday is not affected by Dubai World's request to delay repaying billions in debt and will still open on time.