DP Global intends to provide an opportunity for international investors to buy in Jebel Ali Free Zone. These assets helped to turn Dubai to a global trade center, where the company is looking for ways to reduce their debt accumulation.
According to Arab Net, Dubai-based Ports operating company, with advisers to measure interest in the industrialized industrial zone.
One of the sources said not to disclose his identity. DP World is considering options including selling a stake in the free zone or some of the assets there.
The sources added that any sale is likely to attract attention to infrastructure and strategic investors.
The deliberations are underway, and final decisions were made on a possible transaction structure, according to the sources of the agency, which received a response from the DP Global Comment Representative.
The free zone attracts nearly a quarter of foreign direct investment to Dubai, where more than 8,000 companies have established operations since its inception in the mid-1980s, according to their website.
Dubai saw 24.7 billion dirhams ($ 6.7 billion) from foreign direct investment in 2020, according to government figures.
DP world owned by state-owned stocks are exploring selling shares in certain assets, reducing leverage to about 4 times the profits by 2022 and maintain their investment classification. It has agreed to buy a free zone operator in a deal worth $ 2.6 billion in 2014.
Dubai has launched a share from DP World in early 2020 to mitigate its debt burden and avoid the frequency of the economic crisis forced by the company's rescue plan in 2009.
As part of the possibility of selling a stake in the Jebel Ali Free Zone, Dubai also joins its regional neighboring Abu Dhabi and Saudi Arabia in its efforts to open to foreign investors by providing the opportunity to buy state assets.
DP World is one of the largest maritime ports operators and internal chargers in the world, and extends from London and Antwerp gates to axes in Africa, Russia, India and Americas. I have entered the acquisition in recent years, with the purchase of assets from PO Ferries and Po Ferrymasters in Europe to Chile Ports and Logistics in Chile.
