In a strategic move to bolster Dubai’s economic position, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, announced the consolidation of Nakheel and Meydan under the umbrella of Dubai Holding. This merger, effective as of Saturday, aims to create a financially optimized entity with a combined asset value exceeding hundreds of billions of dirhams.
By uniting these industry leaders, Dubai Holding establishes a diversified conglomerate with a robust global presence across technology, media, hospitality, real estate, and retail sectors. This strategic alignment positions the entity for effective regional and global competition, contributing to the national economic objectives and propelling Dubai towards achieving its ambitious Economic Vision 2033.
Sheikh Mohammed expressed his confidence in the team leading this new venture, anticipating a future marked by accelerated growth and dynamic competition.
في محطة جديدة من محطات ترسيخ وتعزيز زخم نمونا الاقتصادي، وجهنا اليوم بضم شركتي نخيل وميدان تحت مظلة دبي القابضة لتشكل كياناً اقتصادياً عالمياً، يمتلك محفظة متنوعة في قطاعات التكنولوجيا والإعلام والضيافة والعقار والتجزئة وغيرها، وذلك بقيادة الشيخ أحمد بن سعيد آل مكتوم .
— HH Sheikh Mohammed (@HHShkMohd) March 16, 2024
الهدف هو…
Founded in 2004, Dubai Holding has a proven track record of fostering innovation and a knowledge-based economy. Its established portfolio includes Jumeirah Group, Dubai Properties, and TECOM Group, which owns and operates ten industry-focused business clusters, including the prominent Dubai Internet City and Dubai Media City.
Nakheel and Meydan boast extensive experience across diverse sectors such as real estate, retail, hospitality, and leisure & entertainment. Their combined expertise, alongside Dubai Holding’s established presence, will create a powerful force in the global marketplace, offering a comprehensive suite of services and solidifying Dubai’s position as a leading economic hub.
Published On: Mar 16, 2024
Source: https://gulfnews.com/uae/government/nakheel-and-meydan-to-merge-under-dubai-holdings-sheikh-mohammed-announced-1.1710576692098
