Shahbal Secures Multi-million Special Economic Zone Deal With DP World

Businessman Suleiman Shahbal has secured a landmark Special Economic Zone (SEZ) investment deal with global logistics giant DP World in a move expected to transform Mombasa’s economic landscape.

The investment is valued at more than 100 million dollars (Sh12 billion) and is projected to create 7,972 direct jobs.

A total of 67 companies have already confirmed their participation in the project, according to sources familiar with the deal, signalling strong investor confidence even before construction begins.

DP World is one of the world’s leading logistics and supply chain companies. Headquartered in Dubai, the company operates ports, free zones, and logistics hubs in more than 70 countries.

It plays a key role in facilitating global trade and has invested in major infrastructure projects across Africa, Asia, Europe, and the Americas.

The agreement signed between the Gulf Group of Companies and DP World marks the culmination of a vision Shahbal has pursued for more than two decades.

He has consistently championed the establishment of a Special Economic Zone in Mombasa, arguing that it is the missing link in unlocking the county’s industrial and commercial potential.

The proposal first featured prominently in Shahbal’s development agenda in 2010. Since then, he has continued to lobby investors and government agencies to bring the vision to life.

The SEZ will be established on a 535-acre parcel of land in Jomvu Sub-County. The land was previously used as a cattle staging ground by the Kenya Meat Commission.

It is currently under lease from the County Government of Mombasa and will now be converted into a modern Special Economic Zone.

The project is expected to attract manufacturers, logistics firms, exporters, technology companies, and other industrial investors.

The concentration of businesses within the zone is expected to boost production, increase exports, and position Mombasa as a leading investment destination in the region.

The formal signing ceremony is scheduled for September 8 at State House, Nairobi, according to a reliable source from State House.

The agreement will be signed by the Chairman of DP World and Suleiman Shahbal in the presence of President William Ruto.

The project which is in align with the National Government agenda on promoting industrialization, attracting foreign direct investment, creating jobs, and boosting exports through the development of Special Economic Zones.

Business leaders in Mombasa have described the project as a game-changer.

According to the Kenya National Chamber of Commerce and Industry (KNCCI) Mombasa Chapter chairman Aboud Jamal, the Special Economic Zone is expected to unlock enormous economic opportunities for Mombasa and the Coast region at large.

“We fully supports investments of this magnitude because they have the potential to transform our local economy. The SEZ will not only attract more investors but also create thousands of jobs, stimulate trade, and position Mombasa as a leading regional logistics and manufacturing hub,” said Mr Jamal.

He added “This is exactly the kind of strategic investment the private sector has been advocating for, and we look forward to working with all stakeholders to ensure its success.”

Beyond the thousands of direct jobs, the SEZ is expected to create opportunities for local businesses that will supply goods and services to companies operating within the zone.

Contractors, transporters, manufacturers, retailers, and hospitality businesses are expected to benefit from increased economic activity

Professionals including engineers, architects, accountants, lawyers, ICT experts, and financial consultants are also expected to find new opportunities as the project takes shape.

At the same time, ordinary labourers, artisans, technicians, drivers, security personnel, and other skilled and semi-skilled workers are expected to benefit from the thousands of jobs that will be created.

Economic analysts say the ripple effect of the investment could extend far beyond Mombasa.

Increased industrial activity is expected to boost government revenue, expand exports, improve logistics, and attract additional foreign direct investment into Kenya.

For Shahbal, the agreement represents the realization of a dream he has pursued for more than 20 years.

For Mombasa, residents believe it marks the beginning of a new chapter of industrial growth, investment, and job creation that could reshape the county’s economic future for generations.