Nakheel To Merge With Meydan Under Dubai Holding
Dubai-based real estate developers Nakheel and Meydan are set to merge and become part of Dubai Holding. Sheikh Muhammad bin Rashid Al Maktoum has instructed the merger of Nakheel and Meydan under Dubai Holding.
State New Agency WAM stated, “Nakheel and Meydan will join Dubai Holding to further develop a highly diversified conglomerate operating in several sectors across real estate, tourism, hospitality, leisure and entertainment and investments. This move is set to combine a complementary suite of services and expertise to diversify the economy and maximize their competitiveness in the global marketplace.”
Dubai Ruler said in a post on X, “The goal is to create a more financially efficient entity, owning assets worth hundreds of billions, and comprising global expertise across various sectors with which we can compete regionally and globally, achieving our national objectives, and realizing the Dubai Economic Agenda D33.”
Sheikh Ahmed bin Saeed Al Maktoum emphasized that the merged global economic entity will be under his leadership. Additionally, he stated that the Boards of Directors for both Nakheel and Meydan Company will be abolished.
Sheikh Muhammad Said, “Wishing all the best to the team on this new mission… We are optimistic about an upcoming phase where we will multiply our growth, compete with our ambitions, and achieve our economic vision for our people.”
Nakheel and Meydan, known for their renowned projects spanning real estate, retail, hospitality, food and beverage, leisure, entertainment, and healthcare, are going to work together under Dubai Holding. The aim of this merger is to bolster a diversified conglomerate operating across numerous sectors.
The strategic goal is to combine their respective services and expertise to enhance competitiveness in the global market. This unified platform will serve as an ideal platform to meet the increasing global demand for these specialized services and the global demand expected in the long term.
