Dubai-based DP World Limited and its wholly owned subsidiary DP World FZE have closed the previously approved acquisition of Economic Zones World FZE shares from Port and Free Zone World FZE.
Economic Zones World’s key asset is the Jebel Ali Free Zone, which is one of the largest free zones in the Gulf Cooperation Council (GCC) region, and a major industrial and commercial development in Dubai, United Arab Emirates.
”Acquiring a strategically located asset integral to Jebel Ali’s continued success enhances our competitive advantage and aligns with our strategy of providing port-centric integrated logistics solutions at key gateway locations,” Sultan Ahmed Bin Sulayem, Chairman of DP World, said.
”Combining the two assets makes economic and strategic sense for all parties involved, including customers, particularly in the context of a significant growth phase in port capacity at Jebel Ali and a strong economic outlook for Dubai and the wider GCC region.”