Dubai-based ports and logistics group DP World and Kenya-based GulfCap Africa have signed a shareholders agreement formalising their joint venture to develop a 222-hectare industrial park and Special Economic Zone in Mombasa, according to a company statement.
The agreement follows the partnership announced by the two companies in early August and advances the Mombasa Industrial Park into its next development stage. The first phase will cover 40 hectares.
More than 60 Kenyan and international companies have expressed interest in taking space in the zone, which is expected to support more than 20,000 direct and indirect jobs when completed.
The development is intended to attract foreign direct investment, expand Kenya’s manufacturing capacity and connect local companies with regional and international markets. Businesses operating in the park are expected to target markets accessible through the African Continental Free Trade Area, Kenya’s Economic Partnership Agreement with the European Union and its Comprehensive Economic Partnership Agreement with the United Arab Emirates.
DP World is headquartered in Dubai and operates across ports and terminals, logistics, marine services and economic zones. Its network includes more than 60 ports and terminals across six continents. The company reported 2025 revenue of $24.4bn, adjusted EBITDA of $6.4bn and container throughput of 93.4m TEU.