Sheikh Mohammed stated that Sheikh Ahmed bin Saeed Al Maktoum would lead the entity.
On Saturday, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, and Ruler of Dubai, declared the consolidation of Nakheel and Meydan within the Dubai Holding framework.
Sheikh Mohammed announced on his “X” (formerly known as Twitter) account that today, a significant decision was made to merge Nakheel and Meydan under the Dubai Holding umbrella, aiming to strengthen our economic progress. The merger is intended to establish a powerful global economic entity with a diverse portfolio covering technology, media, hospitality, real estate, retail, and other sectors. Sheikh Ahmed bin Saeed Al Maktoum will lead the entity, as stated by the Dubai Ruler.
The goal is to create a more financially efficient entity with assets valued in the hundreds of billions, leveraging global expertise across various industries. This consolidation positions us to effectively compete both regionally and globally, in line with our national objectives and advancing Dubai’s Economic Vision 2033.
Sheikh Mohammed conveyed his best wishes to the team embarking on this new mission, expressing optimism for an upcoming phase characterized by accelerated growth and ambitious competition.
Since its inception in 2004, Dubai Holding has consistently made strides towards fostering an innovation-driven, knowledge-based economy. Within its portfolio are esteemed entities such as the Jumeirah Group, Dubai Properties, and the TECOM Group. Notably, the TECOM Group oversees ten sector-focused business clusters, with Dubai Internet City and Dubai Media City serving as flagship entities.
Nakheel and Meydan, alongside Dubai Holding, have initiated numerous ventures spanning various industries such as real estate, retail, hospitality, food and beverage, leisure and entertainment, and healthcare.
According to the state news agency WAM, the collaboration between Nakheel, Meydan, and Dubai Holding aims to enhance the development of a highly diversified conglomerate operating across multiple sectors, including real estate, tourism, hospitality, leisure and entertainment, and investments. This strategic move is designed to amalgamate a complementary range of services and expertise, fostering economic diversification and enhancing competitiveness in the global market.
