Dubai restructures investment group
Dubai’s Development’s and Investment Authority (DDIA) is planning to spin-off a new organisation to manage its free zones in the emirate, Arabian Business has learned.
The unit, Tatweer, will oversee projects such as Dubai Healthcare City and Humanitarian City, allowing DDIA to focus on its role as a government body.
According to sources, Tatweer and DDIA will operate independently, although both organisations will be overseen by DDIA director general Saeed Al Muntafiq.
The re-organisation, outlined to staff recently, coincides with a plan by DDIA to expand its international presence by rolling out several satellite offices abroad.
The expansion is expected to begin with the opening of the organisation’s first branch in China, and is aimed at attracting greater foreign investment into Dubai.
The move follows last month’s appointment of former Dubai Media City chief executive officer, Abdulhamid Juma as DDIA’s deputy director general.