Dubai World Organisational Restructuring.Global holding company Dubai World Dubai World is a major holding company that manages and supervises a portfolio of businesses and projects for Dubai Government and contributes to the rapid economic growth of the emirate across a wide range of strategic industry segments and projects that make Dubai a leading hub for today announced that it has largely completed its organisational restructuring. This has resulted in significant cost savings and increased efficiency. Its businesses are now well prepared to thrive in both the current climate and the still uncertain future environment. The reorganisation Noun 1. reorganisation - the imposition of a new organization; organizing differently (often involving extensive and drastic changes); "a committee was appointed to oversee the reorganization of the curriculum"; "top officials were forced out in the cabinet builds on the changes announced in June, when management of Jumeirah Golf Estates Jumeirah Golf Estates is a luxury residential golf community that is currently being developed in Dubai, United Arab Emirates. It has attracted a vast amount of interest across the international golfing community due to its high profile course designers - Greg Norman, Vijay Singh, , Jumeirah Lakes Towers and the real estate activities of Dubai Maritime City moved to Dubai World real estate company Nakheel. As a result of the overall reorganisation, the company is scheduled to benefit by more than US$800 million dollars in operating savings over the next three years. The total workforce managed by Dubai World companies globally has been reduced by approximately 15% to less than 70,000 . However, the reduction is around 25% in the UAE (Uninterruptible Application Error) The name given to a crash in Windows 3.0. In subsequent versions of Windows, a crash was called a "General Protection Fault," "Application Error" or "Illegal Operation." See crash in Windows and abend. , largely as a result of the downturn in the real estate market in the region. Each Dubai World division is now more appropriately sized for the current market while at the same time well placed to take advantage of the eventual economic recovery. During the process, each division reviewed its business plans and developed a clear strategy in line with its specific area of expertise, and reviewed their operations and costs to better reflect the current environment. Importantly, the ownership of the key assets underpinning Dubai World's balance sheet remains unaffected by the organisational restructuring. Dubai World Chairman Sultan Ahmed Bin Sulayem Sultan Ahmed bin Sulayem Chairman Dubai World The Chairman of Dubai World, Mr. Sultan Ahmed Bin Sulayem is recognized as one of the leading businessmen of Dubai. said:"Whilst the challenges we faced are not unique, with no global entity immune from the pressures of the world wide recession, we are confident that Dubai World and its subsidiaries are appropriately focused and properly structured to embrace the new global reality. "Our diverse portfolio of assets around the world, together with our significant interests here in Dubai, provides us with an exciting and compelling future. With the reorganisation, the Group enters this next vital phase of our evolution better able to withstand all economic eventualities. Dubai World remains a testament to the vision of our government and the UAE as a whole, today and tomorrow." Group Chief Executive Officer of Dubai World Jamal Majid Bin Thaniah said:"This organisational restructuring is a substantial achievement and I would like to thank all our employees and our customers for their continued loyalty through these difficult times." Some of the key highlights of the restructuring are detailed below. Nakheel Nakheel, the real estate development arm of Dubai World, has reorganized re·or·gan·ize v. re·or·gan·ized, re·or·gan·iz·ing, re·or·gan·iz·es v.tr. To organize again or anew. v.intr. To undergo or effect changes in organization. to focus its activities on that core business. The company is now structured into two divisions -- asset management and real estate development. As noted above, Nakheel is now responsible for management of some real estate assets previously managed elsewhere in the group. As previously announced, the management of several hotels and commercial property has been transferred from Nakheel to Istithmar World. Istithmar World will continue to own these assets. In addition, management of Nakheel's shopping malls, including Ibn Batutta Mall and DragonMart in Dubai, are moving to a separate entity branded Retailcorp World (see below). These changes are consistent with Nakheel's positioning as a real estate development business. Nakheel is now right sized for the current market and is structured to best meet the needs of its real estate customers. Istithmar World Istithmar World is the investment arm of Dubai World. Istithmar World divisions Istithmar World Ventures and Istithmar World Capital have been merged and Istithmar World's activities are now focused principally on the ongoing management of assets already acquired by Istithmar World, with the aim of maximizing the value of those existing investments. In addition, Istithmar World will manage the assets of Dubai World Africa in addition to the Victoria & Alfred Waterfront in Cape Town Cape Town or Capetown, city (1991 pop. 854,616), legislative capital of South Africa and capital of Western Cape, a port on the Atlantic Ocean. It was the capital of Cape Province before that province's subdivision in 1994. , South Africa South Africa, Afrikaans Suid-Afrika, officially Republic of South Africa, republic (2005 est. pop. 44,344,000), 471,442 sq mi (1,221,037 sq km), S Africa. . Retailcorp World Retailcorp World is the newly created retail management arm of Dubai World formed from a division of Nakheel. It will manage all of the UAE-based retail activities within the group, including shopping malls, food and beverage F&B is a common abbreviation in the United States and Commonwealth countries, including Hong Kong. F&B is typically the widely accepted abbreviation for "Food and Beverage," which is the sector/industry that specializes in the conceptualization, the making of, and delivery of foods. outlets and distribution, hyper A Greek work meaning "above" or "more than." It is used as a prefix to technical concepts and products to convey a more advanced or more automatic capability. markets, and retail and food and beverage outlets in South Africa formerly managed by the Nakheel Retail division. Other Key Subsidiaries Drydocks World and Ports and Free Zones World, which is made up of DP World, Economic Zones World and P&O Ferries, have maintained their current structures and are well positioned to weather the downturn and continue to progress despite the more difficult environment. Internationally focused real estate developer Limitless has also been rationalised and reorganised Adj. 1. reorganised - organized again; "a reorganized business" reorganized organized - formed into a structured or coherent whole . It is now focused on maximising value through managing its investments in five development projects internationally, in Saudi Arabia Saudi Arabia (sä  `dē ərā`bēə, sou`–, sô–), officially Kingdom of Saudi Arabia, kingdom (2005 est. pop. , Jordan, Russia, China and Vietnam, as
well as the mixed-use development Mixed-use development refers to the practice of allowing more than one type of use in a building or set of buildings. In planning zone terms, this can mean some combination of residential, commercial, industrial, office, institutional, or other land uses. Downtown Jebel Ali Jebel Ali (جبل علي in Arabic) (also sometime written "Mina Jabal Ali") is a port ("Mina" in Arabic) town, located thirty-five kilometres southwest of the city of Dubai in the United Arab Emirates. in Dubai. Further
overseas projects are dependent on market conditions. 2009 Al Bawaba
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