In a bold move towards strengthening Dubai’s economic landscape, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, and Ruler of Dubai, has announced the merger of Nakheel and Meydan under the Dubai Holding umbrella. This strategic amalgamation aims to create a formidable global economic entity with a diversified portfolio spanning various sectors including technology, media, hospitality, real estate, and retail.
Under the leadership of Sheikh Ahmed bin Saeed Al Maktoum, CEO and Chairman of the Board of Directors of Emirates Group, and Chairman of the Dubai Civil Aviation Authority, the newly formed entity is poised to become a powerhouse boasting assets worth hundreds of billions. The merger seeks to enhance financial efficiency, foster a deeper global influence, and align closely with the objectives outlined in Dubai’s Economic Vision 2033.
Sheikh Ahmed expressed his enthusiasm for leading this transformative endeavor, emphasizing the boundless potential it holds for the nation’s economic advancement. The merger underscores Dubai’s commitment to innovation-driven progress and knowledge-based economy, building upon the success of Dubai Holding’s existing portfolio which includes prominent entities such as Jumeirah Group, Dubai Properties, and TECOM Group.
TECOM Group, a subsidiary of Dubai Holding, operates ten sector-focused business clusters, with flagship entities like Dubai Internet City and Dubai Media City. The integration of Nakheel and Meydan into Dubai Holding further enriches its diversified conglomerate, expanding its presence across real estate, tourism, hospitality, leisure, entertainment, and investments.
The collaboration between Nakheel and Meydan, renowned for their pioneering projects in various sectors, is poised to elevate Dubai Holding’s competitive edge in the global marketplace. This strategic move aims to combine complementary services and expertise, diversify the economy, and maximize competitiveness on a global scale.
The merger signifies a significant milestone in Dubai’s journey towards sustainable economic growth and underscores the visionary leadership’s commitment to fostering innovation, competitiveness, and prosperity. With a shared vision and unwavering determination, Dubai Holdings, alongside Nakheel and Meydan, is poised to embark on a new chapter of accelerated growth and ambitious competition.
