Dubai World looking for opportunities in Australia
A report in Gulf News says that a top priority for Dubai World chairman Sultan Ahmad Bin Sulayem during his whirlwind tour of Australia has been to assess opportunities and challenges facing the five container terminals DP World operates in the country.
Bin Sulayem’s radar has been in constant search for investment opportunities for Nakheel International, Limitless and Istithmar – all companies under the Dubai World umbrella.
Speaking to Gulf News at the mid-point of his tour, he said possibilities exist in sectors such a real estate, hotels and resorts, marinas and cruise terminals, as well as third party logistical support for the ports business.”This trip has given me more confidence in the Australian economy than I had envisaged,” he said.
“We will take our time to digest the information we have learnt and will react to any opportunity that the market presents.
Good relations with officials governing Australia’s states could be key to pouncing on opportunities.
Between tours of DP World container terminals, Bin Sulayem has met state premiers, transport ministers, Australia’s deputy prime minister and the UAE ambassador to Australia and New Zealand.
“If we outline our investment intentions now, there is a better chance that the required approvals will be granted when the time comes to make those investments,” he said.
Despite Dubai World’s wide scope, the company’s focus in Australia’s has very much been on its existing DP World container terminals.
Report by The Mole
John Alwyn-Jones
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