Dubai World is an investment company that manages and supervises a portfolio of businesses and projects for the Dubai Government across a wide range of industry segments and projects that promote Dubai as a hub for commerce and trading.
It is chaired by Sultan Ahmed bin Sulayem.
Dubai World was established under a decree ratified on March 2, 2006 by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President & Prime Minister of UAE and Ruler of Dubai.He also holds majority stake in Dubai World
On July 2, 2006 it was launched as a holding company with more than 50,000 employees in over 100 cities around the globe. The companies managed by Dubai World include DP World, the third largest port operator in the world, Jafza, Nakheel (known for residential estate development projects such as The World), Dubai Drydocks, Dubai Maritime City, Dubai Multi Commodities Centre, Istithmar World, Kerzner, One & Only, Atlantis, Island Global Yachting, Limitless, Inchcape Shipping Services, Tejari, TechnoPark, P&O Maritime, Discovery Gardens and Tamweel.
The group has extensive real estate investments in the US, the UK and South Africa.
Dubai World made headlines in March 2008 after its chairman, Sultan Ahmed bin Sulayem, threatened to take the fund's money out of Europe if the European Union tried to regulate his activities. The Independent, 1 March, 2008 As mentioned, Dubai World's threats came shortly after the EU attempted to lay out "a set of principles for transparency, predictability and accountability" for Sovereign Wealth Funds. The Independent, 26 February, 2008