Dubai's DP World to develop free zone in Somaliland

[Ben Dover]

Port operator says Berbera Free Zone will be spread across more than 12 sq km


Dubai-based DP World announced on Monday that it will develop a greenfield economic free zone in Somaliland to complement the development of the Port of Berbera.

DP World Group chairman and CEO Sultan Ahmed Bin Sulayem and Republic of Somaliland Minister for Foreign Affairs and International Cooperation Dr Saad Ali Shire have signed an agreement for the Berbera Free Zone (BFZ).

The development is based on DP World’s Jebel Ali Free Zone (Jafza) in Dubai and aims to attract investments, encourage trade, create new jobs and position Berbera as a gateway port for the region, a statement said.

Under the terms of the agreement, DP World will develop BFZ in phases, with the first phase focusing on 4 square kilometres of land out of the 12.2 square kilometres earmarked for the project.

Future phases will be detailed in a concept plan together with the projected capital investment required from DP World for its development.

Each phase of the BFZ will start once the previous phase has achieved 85 percent occupancy, the statement said, adding that it will target a wide range of businesses including warehousing, logistics, traders, manufacturers and other related businesses.

Further details of the BFZ will be concluded with Somaliland’s new government after the country’s elections scheduled next week.

Bin Sulayem said: “We are excited by Somaliland’s development opportunities which has parallels with the start of our own growth in Dubai and the UAE.

“We look forward to finalising the details of the Berbera Free Zone with the next government of Somaliland and look forward to our continued partnership.”

The new facility will build on DP World’s existing operations at the Port of Berbera where it has achieved substantial production gains in recent months. In September, the port recorded the highest container volumes in its history with a 40 percent increase compared to September 2016.



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[X.Playa]

40% increase? And where all that money gone to? I don't see the people benefiting much.

[Ben Dover]

Dee 40% went into campaign funds to ensure El Mujahid El Messiah, Ayatollah Bixi will win the election.




Dont shoot. I am just kidding man chill

[kanadiid90]

Dee 40% went into campaign funds to ensure El Mujahid El Messiah, Ayatollah Bixi will win the election.




Dont shoot. I am just kidding man chill

[Zoomalia4Kucks]

40% increase? And where all that money gone to? I don't see the people benefiting much.

Calm down September was just 2 months ago and the 40% assessment was analyzed just last month , as they had to wait for the full month of September to end. And they compared that data to data from September 2016 and realised it was 40% increase. September was the first real month we saw effects of upgrades. You're acting like development happens over night

[AlpArsalan]

Gabiley will eat good with this development

[X.Playa]

40% increase? And where all that money gone to? I don't see the people benefiting much.

Calm down September was just 2 months ago and the 40% assessment was analyzed just last month , as they had to wait for the full month of September to end. And they compared that data to data from September 2016 and realised it was 40% increase. September was the first real month we saw effects of upgrades. You're acting like development happens over night

I don't buy all that idoor heel clicking gleefully. There is zero evidence for any economic benefit so far. Just good PR by DP written by none other then themselves.

[Zoomalia4Kucks]

40% increase? And where all that money gone to? I don't see the people benefiting much.

Calm down September was just 2 months ago and the 40% assessment was analyzed just last month , as they had to wait for the full month of September to end. And they compared that data to data from September 2016 and realised it was 40% increase. September was the first real month we saw effects of upgrades. You're acting like development happens over night

I don't buy all that idoor heel clicking gleefully. There is zero evidence for any economic benefit so far. Just good PR by DP written by none other then themselves.

What a retard you are

So you're skeptical Berbera Port is seeing a rise in traffic after it was taken over by one of the biggest port management company in the world and we're talking of the same port Ethiopia owns 19% of which means they're gradually taking almost all their business from Djibouti to Berbera




You come off as jealous hater

[ramzy2277]

it looks like this article is part of Kulmiye campaign, DP for sure wants kulmiye to keep governance.

[X.Playa]

Calm down September was just 2 months ago and the 40% assessment was analyzed just last month , as they had to wait for the full month of September to end. And they compared that data to data from September 2016 and realised it was 40% increase. September was the first real month we saw effects of upgrades. You're acting like development happens over night

I don't buy all that idoor heel clicking gleefully. There is zero evidence for any economic benefit so far. Just good PR by DP written by none other then themselves.

What a retard you are

So you're skeptical Berbera Port is seeing a rise in traffic after it was taken over by one of the biggest port management company in the world and we're talking of the same port Ethiopia owns 19% of which means they're gradually taking almost all their business from Djibouti to Berbera




You come off as jealous hater

Where is economic data? Or you just swallow anything DP tells you.

[Zoomalia4Kucks]

I don't buy all that idoor heel clicking gleefully. There is zero evidence for any economic benefit so far. Just good PR by DP written by none other then themselves.

What a retard you are

So you're skeptical Berbera Port is seeing a rise in traffic after it was taken over by one of the biggest port management company in the world and we're talking of the same port Ethiopia owns 19% of which means they're gradually taking almost all their business from Djibouti to Berbera




You come off as jealous hater

Where is economic data? Or you just swallow anything DP tells you.

You don't have to believe anything DP World tells you , just use your brain. There was obviously an increase in traffic , why would DP world lie about 40% increase

If they were going to lie they would have given a figure over 40% by claiming traffic was almost none existent in Berbera Port before thus making them look real good.

[X.Playa]

What a retard you are

So you're skeptical Berbera Port is seeing a rise in traffic after it was taken over by one of the biggest port management company in the world and we're talking of the same port Ethiopia owns 19% of which means they're gradually taking almost all their business from Djibouti to Berbera




You come off as jealous hater

Where is economic data? Or you just swallow anything DP tells you.

You don't have to believe anything DP World tells you , just use your brain. There was obviously an increase in traffic , why would DP world lie about 40% increase

If they were going to lie they would have given a figure over 40% by claiming traffic was almost none existent in Berbera Port before thus making them look real good.

Same reason every company in the world lies about it's bottom line. Stock prices.

Obviously you don't know what you are talking about.

[Zoomalia4Kucks]

Where is economic data? Or you just swallow anything DP tells you.

You don't have to believe anything DP World tells you , just use your brain. There was obviously an increase in traffic , why would DP world lie about 40% increase

If they were going to lie they would have given a figure over 40% by claiming traffic was almost none existent in Berbera Port before thus making them look real good.

Same reason every company in the world lies about it's bottom line. Stock prices.

Obviously you don't know what you are talking about.

Take a lap doqonyaho Berbera Port barely has impact on DP world stocks you imbecile , they're so diverse it's a drop in the bucket. Also 40% increase doesn't mean higher stocks, as it's a 40% increase from what Somaliland was doing on it's own , which when compared to world standards was barely anything. 40% increase in traffic from 1 year ago is completely possible and 40% isn't something to brag about anyway they want to get the traffic increase to at least 100% to bring it to world class standards . You're just being a hater

"October 29, 2017, 1:01 PM PDT
Updated on October 30, 2017, 4:56 AM PDT
Port operator’s 2037 bonds have returned 21 percent this year
Credit rating raised two notches by Fitch since 2016
A Dubai-owned ports operator that has weathered slower global growth since the financial crisis has emerged as the Gulf’s star performer in the bond market.

Buoyed by steadily improving finances and a credit-rating upgrade, state-controlled DP World Ltd.’s debt due in 2037 have handed investors a 21 percent return this year as of Friday. It’s the best performer among dollar-denominated bonds of $1 billion and more in the six-nation Gulf Cooperation Council.

The company stands out in a region where several governments and companies have seen their credit ratings cut over the past two years as they try to adapt to the new reality of oil at about $60 a barrel. DP World, which operates about 80 terminals in 40 countries, is less dependent on crude prices than some regional companies and has benefited from this year’s pickup in global growth."

[X.Playa]

You don't have to believe anything DP World tells you , just use your brain. There was obviously an increase in traffic , why would DP world lie about 40% increase

If they were going to lie they would have given a figure over 40% by claiming traffic was almost none existent in Berbera Port before thus making them look real good.

Same reason every company in the world lies about it's bottom line. Stock prices.

Obviously you don't know what you are talking about.

Take a lap doqonyaho Berbera Port barely has impact on DP world stocks you imbecile , they're so diverse it's a drop in the bucket. Also 40% increase doesn't mean higher stocks, as it's a 40% increase from what Somaliland was doing on it's own , which when compared to world standards was barely anything. 40% increase in traffic from 1 year ago is completely possible and 40% isn't something to brag about anyway they want to get the traffic increase to at least 100% to bring it to world class standards . You're just being a hater

"October 29, 2017, 1:01 PM PDT
Updated on October 30, 2017, 4:56 AM PDT
Port operator’s 2037 bonds have returned 21 percent this year
Credit rating raised two notches by Fitch since 2016
A Dubai-owned ports operator that has weathered slower global growth since the financial crisis has emerged as the Gulf’s star performer in the bond market.

Buoyed by steadily improving finances and a credit-rating upgrade, state-controlled DP World Ltd.’s debt due in 2037 have handed investors a 21 percent return this year as of Friday. It’s the best performer among dollar-denominated bonds of $1 billion and more in the six-nation Gulf Cooperation Council.

The company stands out in a region where several governments and companies have seen their credit ratings cut over the past two years as they try to adapt to the new reality of oil at about $60 a barrel. DP World, which operates about 80 terminals in 40 countries, is less dependent on crude prices than some regional companies and has benefited from this year’s pickup in global growth."

Nin. Sida dhilooyinka u caytamaya maxaa lagala doodaa? Horta caadada ca maydho markaas baynu doodiye.

[Zoomalia4Kucks]

Same reason every company in the world lies about it's bottom line. Stock prices.

Obviously you don't know what you are talking about.

Take a lap doqonyaho Berbera Port barely has impact on DP world stocks you imbecile , they're so diverse it's a drop in the bucket. Also 40% increase doesn't mean higher stocks, as it's a 40% increase from what Somaliland was doing on it's own , which when compared to world standards was barely anything. 40% increase in traffic from 1 year ago is completely possible and 40% isn't something to brag about anyway they want to get the traffic increase to at least 100% to bring it to world class standards . You're just being a hater

"October 29, 2017, 1:01 PM PDT
Updated on October 30, 2017, 4:56 AM PDT
Port operator’s 2037 bonds have returned 21 percent this year
Credit rating raised two notches by Fitch since 2016
A Dubai-owned ports operator that has weathered slower global growth since the financial crisis has emerged as the Gulf’s star performer in the bond market.

Buoyed by steadily improving finances and a credit-rating upgrade, state-controlled DP World Ltd.’s debt due in 2037 have handed investors a 21 percent return this year as of Friday. It’s the best performer among dollar-denominated bonds of $1 billion and more in the six-nation Gulf Cooperation Council.

The company stands out in a region where several governments and companies have seen their credit ratings cut over the past two years as they try to adapt to the new reality of oil at about $60 a barrel. DP World, which operates about 80 terminals in 40 countries, is less dependent on crude prices than some regional companies and has benefited from this year’s pickup in global growth."

Nin. Sida dhilooyinka u caytamaya maxaa lagala doodaa? Horta caadada ca maydho markaas baynu doodiye.

Wallahi you need to go get your brain checked out. You hate facts and truth , what sources do you have to back up any of your lies