Magazine

Dubai's World


Here's a glimpse of what's inside the conglomerate's collection of businesses

DP WORLD

One of the largest port operators in the world, it raised $5 billion in an initial public offering—the largest in the Middle East at the time.

PERELLA WEINBERG

Istithmar plowed $100 million into the advisory firm and its investment business, which were founded by ex-Morgan Stanley Vice-Chairman Joseph Perella and Goldman Sachs partner Peter Weinberg.

CITYCENTER

Dubai World and MGM Mirage are partners on this $8.5 billion Las Vegas development, which includes 67 acres of hotels and condominiums as well as a casino and a shopping center.

BARNEYS NEW YORK

In 2007, Istithmar spent nearly $1 billion on the retailer, which is struggling to pay its debt. Hedge fund Perry Capital, which owns some debt, has been approached by outside investors about a takeover.

W UNION SQUARE

Dubai World, which paid a pricey $1 million per guest room for New York's W Union Square, may lose control of the hotel when some of its debt goes to auction this month.

PALM JUMEIRAH

Nakheel, the Dubai World developer that risks defaulting on more than $3 billion of debt this month, built the palm-shaped island off the Dubai coast. The tourist destination features a shark-filled lagoon.


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