DP World acquired Dubai Maritime City and Drydocks World for $405m.

DP World, one of the world’s largest port operators, acquired Dubai Maritime City, a commercial and industrial maritime park, and Drydocks World, the Middle East’s largest ship repair yard, for $405m. Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World, said: “We are delighted to make these acquisitions which further strengthen the Group’s maritime services and port related businesses. As a global trade enabler, we have been targeting a broader strategy to grow complementary sectors in the global supply chain such as industrial parks, free zones and logistics adding further value for all our stakeholders."