On the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, Nakheel and Meydan will merge with Dubai Holding to enhance growth and competitiveness on a global scale.
Under the leadership of H.H. Sheikh Ahmed bin Saeed Al Maktoum, Nakheel and Meydan will integrate into Dubai Holding, with the dissolution of their respective Boards of Directors.
Sheikh Mohammed bin Rashid Al Maktoum stated, “Today, we are taking a significant step to bolster our economic expansion by incorporating Nakheel and Meydan into Dubai Holding, establishing a robust global entity with a diverse portfolio spanning technology, media, hospitality, real estate, retail, and more.”
He continued, “Our aim is to streamline operations, consolidate assets worth billions, and harness international expertise to enhance regional and global competitiveness, aligning with our national goals and the Dubai Economic Agenda D33.”
Expressing optimism for the future, Sheikh Mohammed remarked, “We look forward to a phase of accelerated growth, ambitious competition, and the realization of our economic vision for our citizens.”
Established in 2004, Dubai Holding has been instrumental in fostering an innovation-driven economy, with Jumeirah Group, Dubai Properties, and TECOM Group among its notable subsidiaries. TECOM Group manages ten business clusters, including Dubai Internet City and Dubai Media City.
Nakheel and Meydan, renowned for their contributions across various sectors, including real estate, retail, hospitality, leisure, and healthcare, will join forces with Dubai Holding to further diversify the conglomerate’s offerings and global competitiveness, according to WAM.
This strategic alignment aims to meet the rising demand for specialised services globally, capitalising on emerging opportunities and anticipating long-term global demands.
