Economic Zones World (EZW), a unit of Dubai World, is considering the sale of its UK-based warehouse property developer Gazeley, as it looks to repay some of its debt of over $2 billion this year, three banking sources said.
Gazeley is one of the four businesses held by EZW, which operates technology, logistics and industrial parks as well as Jebel Ali Free Zone (JAFZA) under the Dubai World Group umbrella.
A potential sale of Gazeley will help EZW repay a portion of debt maturing at JAFZA, the sources said, speaking on condition of anonymity.
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