Sovereign Funds

Dubai World

United Arab Emirates · 2006 · Dubai Financial Support Fund (Government of Dubai)

Dubai World is a public corporation established by Dubai Law No. 3 of 2006, issued on 2 March 2006, to invest in, establish and manage commercial projects, including industrial, agricultural, real estate, services, financial, airport, seaport and free zone projects, on a commercial basis. The law provides for a chairman appointed by decree of the Ruler and requires its net profits and those of its subsidiaries, after a reserve set by the board, to be paid to the Government. Law No. 12 of 2011 gave it its own legal personality with financial and administrative autonomy, affiliated it with the Dubai Financial Support Fund, and provides that neither the Government nor the Fund is responsible for its debts or those of its subsidiaries. A decree of 12 December 2010, reported by WAM, formed its board under Sheikh Ahmed bin Saeed Al Maktoum. DP World said in February 2020 that its parent, Port and Free Zone World, is a wholly owned subsidiary of Dubai World.