UAE Investments Worldwide

[smussuw]

Constanta South Container Terminal (CSCT), the terminal operated by DP World in Romania, has increased volumes by more than 450%, achieving its 500,000 TEU* milestone recently while servicing the MSC Jemima.

The full year throughput for 2005 for CSCT will be around 560,000 TEUs compared with just under 100,000 TEUs last year.

The success story underlines CSCT's position as the hub for the Black Sea, as trade continues to expand in Eastern Europe. CSCT handles a mix of local cargo and transshipment cargo for many other countries in the Black Sea region. Barge services linking Constanta and Belgrade have recently been initiated, and there are plans for a rail link between CSCT and Budapest in Hungary.

Dubai's DP World, a leading global port operator, took over management of CSCT in January 2004, with operations commencing in April 2004, and has since set new productivity records at the Romanian terminal. CSCT recently operated the MSC Queensland at more than 80 moves an hour for 3,200 moves on the vessel. This was the largest number of moves per single vessel ever handled at the Port of Constanta, beating a previous record set in July by CSCT on the ZIM Marmara Sea. In another significant achievement, CSCT last week handled 22,890 TEU - 1.2million TEU on an annualised basis, and another record for the terminal.

Demonstrating its commitment to investing ahead of demand, DP World is in the process of expanding yard capacity at CSCT and has ordered five new rubber tired gantry cranes to be delivered mid-2006 and additional quay cranes due for delivery in first half 2007. DP World expects throughput for 2006 and beyond will continue to grow at a good pace, and in due course, additional berths will be brought on stream.

Commenting on the achievement, Mohammad Sharaf, CEO, DP World, said:

"This is a significant milestone for CSCT, and it demonstrates the effectiveness of our management model. We are fully committed to investing ahead of demand and to constantly improving our facilities to the advantage of our customers. Our achievements in Constanta reflect our experience and success in managing large ports around the world."



DP World Managing Director and Senior Vice President, Europe and West Africa, Simon Moore added: "One of the reasons for the early success of CSCT is the close partnership we have with the Maritime Ports Administration Constantza S.A.(MPAC). They have been key to establishing efficient services that enable us to serve our customers' rapidly growing needs in this important emerging market. We look forward to building further on this relationship and creating a world class terminal that Romania can be proud of."

* TEU = twenty-foot equivalent unit, a measure relating to container capacity



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Notes and media contacts
For further information please contact:
Bell Pottinger Communications
Dubai:
Tom Mollo
+9715 0550 4203

London:
Dan de Belder
+44 207 861 3232

DP World is a leading global port operator with a portfolio of operations in Asia, Australia, Europe, Latin America, and the Middle East. The company has 22 container terminals in 15 countries.

DP World is the result of the integration of Dubai Ports Authority ("DPA") and DPI Terminals ("DPI") in September 2005. This new entity continues the tremendous success of the DPA and DPI businesses, which have been at the forefront of Dubai's extraordinary transformation into one of the world's leading trade and commerce hubs.

DP World manages the commercial and operational aspects of the port network, formerly developed and managed by DPA and DPI.

In 2005, the terminals operated by DP World will handle an estimated 13 million TEU which include ports on five continents from the Americas to Asia.

DP World's unique cross-sector expertise offers solutions in all aspects of port operations, ultimately driving efficiency and financial returns for port users. DP World will continue to provide the same high level of service that customers have come to expect. DP World continues to provide a superior level of service to shipping lines at its flagship domestic operations of Port Rashid and Jebel Ali which has been voted "Best Seaport in the Middle East" for 10 consecutive years. Dubai is ranked as the 10th largest port operation in the world and DP World is the 7th largest global operator.

There are a number of significant projects in the pipeline that will strengthen the DP World network, including developments in Asia, Europe, and the Middle East. In February 2005 an agreement with the Cochin Port Trust (CoPT) was signed to construct, develop and operate an international container transshipment terminal at Vallarpadam, Kochi, India. It is the largest single operator container terminal currently planned in India and the first in the country to operate in a special economic zone. The new terminal will make Kochi a key centre in the shipping world reducing India's dependence on foreign ports to handle transshipment.

One cornerstone project, which underlines DP World's position as a major player in Asia, is the development of Pusan Newport, South Korea. DP World has a 39.55% interest in and management contract for this 9-berth facility, which will have a capacity of 5.5 million TEU. It is currently under construction and is expected to be operational by 2006.

In March 2005, DP World was awarded a 30 year concession to develop and operate the container terminal at the Port of Fujairah, in the UAE. This was followed in July 2005 by the awarding of a management contract for Mina Zayed Port, Abu Dhabi. These concessions will enable DP World to streamline operations at the major container facilities of the UAE, and further increase the choices available to its customers. In June 2005 DP World was short listed as preferred bidder to operate the container terminal at the Port of Aden.

In November 2005 DP World also announced agreements to develop new container terminals at Yarimca, Turkey and Qingdao, China.

On 29 November, 2005, DP World announced the terms of a recommended cash offer to acquire all of the issued and to be issued Deferred Stock of the P&O Group. When completed, this deal will make DP World a top three global port operator.

DP World also has interests in logistics businesses in Hong Kong and China, notably ATL, the market leading logistics operator based at Kwai Chung, Hong Kong.

[Dubai-Lover]

Dubai buys $100m German mall

Dubai Investment Group, part of Dubai Holding, has purchased the Hansecenter outside the Baltic port city of Rostock for $100m. This is one of the largest shopping centres in Northern Germany with a retail floor space of 530,000 sqft and 2,500 car parking spaces, reported Frankfurter Allgemeine.

[us_lukman]

Dubai is so nice....Visit my hometown, Surabaya, Indonesia
http://www.skyscrapercity.com/showth...=245384&page=5

[lakerdar123]

kukes airport in northeast albania. small investment but thank you non the less.

[dubaiflo]

great and all, but why the heck did you put this in UAE Investments

i don't think Dubai Holdings is going to buy your city...

[lakerdar123]

cause UAE made the investment to build the airport.

[smussuw]

I think he is talking to us_lukman

[dubaiflo]

15.1.2006
Abu Dhabi Investment House (ADIH) has announced the launch of its third investment instrument since inception, a $160 million private placement, to fund the development of the first phase of Beirut Gate, an integrated sea-view project in the Beirut Central District, commonly known as Solidere.
Chief Executive Officer of ADIH, Rashad Janahi, said: 'Lebanon's real estate market is one of the leading destinations of foreign investments and our entry into this market is a significant step in our strategy of offering growth-oriented sophisticated investment opportunities to our clients with regional focus.'
� 2006 Mena Report (www.menareport.com)

[DarkBlueBoss]

Jumeirah takeover luxury hotel in New York
Monday, 16 January 2006


Dubai-based luxury hotel group Jumeirah has officially taken over as operator of the exclusive New York Hotel, Essex House. The hotel which was renamed Jumeirah Essex House is on the South East corner of Central Park and is the first Jumeirah operated hotel in the United States.

Jumeirah already operate a number of hotels in Dubai and two in London, the Jumeirah Carlton Tower and Jumeirah Lowndes Hotel. “ We are really excited to be involved in this hotel in New York.

The Jumeirah Essex House will be a prestigious addition to Jumeirah’s portfolio. The company is still on track to operate 40 hotels by 2009, said Gerald Lawless, CEO of Jumeirah.

“ We hope to operate another in the US as soon as it is possible. This is just the beginning, ” continued Lawless. A complete refurbishment of the Jumeirah Essex House will being later this year.

Jumeirah is a subsidiary of Dubai Holding. Jumeirah’s sister company Dubai Investment Group bought the hotel the Essex House. It was announced in September that Jumeirah would takeover the operation of the hotel.

“It is increasingly positive that we have such prestigious sister companies such as Dubai Investment Group. The synergy within the Dubai holding group means that we have good opportunities.

With our international reputation for excellence, we are obviously the operator of choice for Dubai Investment Group’s, many luxury leisure investment hotels,” said Lawless.

Jumeirah is also involved in the Dubailand project, particularly with the Aqua Dunya project. Jumeirah already operates the Wild Wadi theme park in Dubai it will operate the park and the luxury hotel as part of the Aqua Dunya project.

The company also runs Emirates Academy a school of hotel management in Dubai. The company is most famously known for its operation of Burj Al Arab in Dubai.

[mohamed2]

who is the biggest investor dubai or abu dhabi???????.
any way it is really nice to see uae becoming less reliant on oil and more and more reliant on trade, investment and tourism.
wish you all the best.
inshallah may god bring more prosperity to your country and all over the world

[dubaiflo]

from what is announced to the public it should be dubai.

[smussuw]

^ I think it is Abu Dhabi but they dont announce it as most of it goes to to royal family (my guess).

[mohamed2]

who is the richest emirati other than the royal families.how is the development inother cities in uae

[smussuw]

^ there are 52,000 millioners

the richest are Al Futtaim, Al Gurair and Al Habtoor.

[Dubai-Lover]

seems like dp world is very close to outbidding psa from singapore
this will one huge step for the diversity of the uae's economy

cross your fingers!


Dubai a deal away from top league
By Shakir Husain, Staff Reporter



Dubai: Rival efforts by Dubai and Singapore to acquire British port operator Peninsular and Oriental Steam Navigation Company (P&O) are increasingly being seen as a battle for global shipping supremacy between the two cities already recognised as hubs for tourism, transport, trade and finance.

A successful takeover of P&O by DP World, whose £3.3 billion ($5.9 billion, Dh21.36 billion) bid has been approved by the British firm's board, could make Dubai the world's third biggest port operator.

"One transaction will catapult Dubai into the heavyweight league of port operators. There will never be an opportunity like this," said Neil Davidson, research director at Drewry Shipping Consultants in London.

P&O, which has 29 container terminals and logistics operations in 19 countries making it one of the world's four top operators, has also attracted a £3.5 billion approach from the Port of Singapore Authority (PSA), a unit of the Singapore government's investment arm Temasek.

A takeover by Singapore would turn PSA into the world's top operator, overtaking Hong Kong's Hutch-ison Whampoa.

"P&O is significant for both Singapore and Dubai. Its acquisition will increase their business activity in large amounts in one go," Davidson said.

Diversification

For PSA, taking control of P&O would mean that it will not have to rely heavily on its Singapore operations for business volume. Singapore accounts for more than half PSA's volume. PSA Singapore Terminals handled 22.28 million TEUs (twenty-foot equivalent units) in 2005.

Singapore's container volume also faces competition from Port of Tanjung Pele-pas and Port Klang in Malaysia and it would help PSA to seek overseas assets.

"P&O will allow PSA to spread its business across a large number of ports and countries," Davidson said.

In terms of geographical locations, DP World has a better global presence.

However, the P&O transaction may have little impact aside from the prestige on Singapore and Dubai's economic successes, Davidson said.

Still, control of ports around the world fits Dubai's ambitions to position itself as a business city on par with other global business hubs.

"Once you have become a regional hub, the next step is to go global. It is natural for Dubai to be competing with Singapore," said a former Singapore government official.

Singapore and Dubai are already competing for port concessions worldwide.

As a fulcrum of regional business, Dubai considers ports a key component of its growth strategy.

Chairman of Ports, Customs and Free Zone Corporation Sultan Ahmad Bin Sulayem, who just opened the Pusan container port in South Korea a joint venture between Dubai and Korea's Samsung, said the P&O bid was crucial for Dubai to offer its customers in Europe and North America. P&O also has presence in South Asia, East Asia, Australia, Africa and South America.

In view of India's strong economic growth, acquiring P&O would give DP World a major presence in the country.

WAM

In the right direction

South Korean President Roh Moo-Hyun and the First Lady open Pusan container port along with the Mayor of Pusan, and the Chairman of Dubai's Ports, Customs and Free Zone Corporation Sultan Ahmad Bin Sulayem yesterday.

[DUBAI]

they are overpaying by about 15-20%

more of a prestige thing than economic sense at this point.

why dont they buy a somthing sensible?

like coca cola, or the rest of daimler chrysler

even friken ibm would do.

[AltinD]

^ Is not for prestige; it is a very strategic move that will ensure Dubai will become a container hub as Singapore is. Achieving that it will be a great victory and makes WAY TO MUCH economic sense.

[DUBAI]

Dubai's location undermines it as a container hub. its just not viable to send ships up the gulf with the insurance premiums demanded today.

they should buy out fujeirah and do it there.

[dubaiflo]

i am sure would be a good business man nick

anyway i agree with altin, dubai is already an important container hub and should become even more if they outbid singapore on that one.

[DUBAI]