Under the umbrella of the state-owned port operator DP World, the company has transformed into a key element of the region’s industrial infrastructure, demonstrating a successful model of economic diversification in the UAE.
In the early 1980s, Dubai made an ambitious bet on the maritime industry by creating one of the world’s largest shipyards. Today, Drydocks World stands as an example of successful transformation – from financial crisis to stable growth under DP World’s management. “The company’s story is a journey from early achievement through restructuring to disciplined development,” notes CEO Rado Antolovic. The scale is impressive: the main dry dock stretches 521 meters and can service supertankers and the largest container vessels. At its peak, the shipyard delivered more than 300 projects annually. However, the 2008 global financial crisis dealt a severe blow – freight rates collapsed, and orders for new vessels shrank. The strategic importance of the facility for the emirate’s economy – where real estate market trends in Sharjah 2025 are closely linked to the region’s broader industrial development – required decisive action.
From crisis to a new model
Restructuring between 2012 and 2016 changed ownership structure. In 2017, Drydocks World was fully integrated into DP World, gaining access to a global network of more than 60 ports with an annual throughput exceeding 88 million TEU. CEO Rado Antolovic explains that the company shifted its focus from low-margin repair work to complex engineering solutions. Today, the shipyard handles the conversion of floating oil storage units, upgrades offshore platforms and builds modules for oil fields in the North Sea, West Africa and the Middle East. Its in-house engineering teams manage projects from design to full implementation.
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Alnokhada expands capabilities
The new floating crane Alnokhada, with a lifting capacity of 5,000 tonnes, will become the largest in the MENA region. China’s ZPMC has completed the main construction phase, and system installation is under way. Commissioning is planned for Q1 2026, with delivery to Dubai expected in Q2. Key specifications include:
- Barge length 138.5 meters and width 52 meters
- Main hook capacity 5,000 tonnes; auxiliary hook 600 tonnes
- Lifting height up to 180 meters
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The name was chosen through a national competition that gathered more than 3,000 submissions. Synergy with Jebel Ali Port and the Jafza free zone creates a unique competitive advantage. In one location, the emirate hosts a container hub, logistics zone and a world-class shipyard – a rare combination in a region where UAE property for non-residents mortgage options are becoming increasingly accessible thanks to overall economic expansion. Shipping and energy companies can coordinate port operations, storage, manufacturing and repair all in one integrated center. From distressed asset to stable industrial powerhouse, Drydocks World demonstrates the effectiveness of well-planned integration and long-term investment in Dubai’s industrial infrastructure.
