UAE announces Nakheel, Meydan merger under "Dubai Holding"

Dubai's real estate landscape is set to undergo a significant transformation as top developers Nakheel and Meydan merge under the umbrella of Dubai Holding, as announced by Sheikh Mohammed bin Rashid Al Maktoum.

This strategic move aims to consolidate Dubai's economic growth momentum and create a financially efficient entity with assets worth hundreds of billions of dollars. Sheikh Mohammed emphasized the importance of this merger in achieving national objectives and advancing the Dubai Economic Agenda D33 on a global scale. Sheikh Ahmed bin Saeed Al Maktoum will lead this new economic entity, signaling a unified approach towards future endeavors. The merger entails the abolition of the Boards of Directors of Nakheel and Meydan Company, streamlining operations for enhanced efficiency and effectiveness.

Since its inception, Dubai Holding has been instrumental in fostering an innovation-driven, knowledge-based economy. Its diverse portfolio includes prominent entities like Jumeirah Group, Dubai Properties, and TECOM Group, which collectively contribute to Dubai's economic development. Nakheel and Meydan have been pivotal players in various sectors such as real estate, hospitality, and leisure, and their integration into Dubai Holding will further bolster the conglomerate's offerings across different industries.

This strategic alignment aims to diversify the economy and maximize competitiveness in the global market. By combining complementary services and expertise, Dubai Holding seeks to address evolving global demand and capitalize on emerging opportunities. The merger is anticipated to facilitate more integration and collaboration within the industry, fostering a conducive environment for growth and innovation.

Industry experts have welcomed the merger, anticipating positive impacts on Dubai's real estate sector and overall economic outlook. Cherif Sleiman, Chief Revenue Officer at Property Finder, believes that the merger will lead to a stabilizing effect on property prices in the mid-term, attributing it to increased investor confidence and the availability of diverse project portfolios. Imran Farooq, CEO of Samana Developer, echoed similar sentiments, highlighting the potential for accelerated growth and heightened investor interest in Dubai's real estate market.

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