Saturday, June 27, 2009

Dubai World announces consolidation of operations

Dubai World yesterday announced that all operational management, pertaining to real estate activities of few of its companies, are being consolidated for better accommodation of market conditions and to maximize resources and expertise.

The real estate development and property transactions of Dubai Maritime City, Dubai Multi-Commodities Center and Leisurecorp will be managed by Nakheel. The changes, however, will have no impact on the daily business of the companies.

The consolidation planning is on currently, with assistance from Consultants, Alix Partners, and the process will be completed during summer.

Dubai World, the major player in real estate businesses in Dubai and across the world, has invigorated the industry, re-defining whatever possible through its companies' efforts and dedication.

Dubai World, in its statement, mentioned that it is extremely proud of its achievements, and aims to continue to be a leader in real estate business and hopes that the current decisions will help in meeting the requirements of customers in a better manner.

Dubai World is Dubai government's investment flag bearer, with a portfolio comprising the world's most renowned companies such as DP World, Drydocks World & Dubai Maritime City, Nakheel, Leisurecorp, Economic Zones World and Istithmar World.

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