Nakheel and Meydan merge with Dubai Holding 

Nakheel and Meydan merge with Dubai Holding 

Two of Dubai’s largest state-backed developers – Nakheel and Meydan – will merge into Dubai Holding, the investment vehicle of Dubai’s Ruler Sheikh Mohammed bin Rashid Al Maktoum, to create a new global economic entity.  Nakheel and Meydan will become part of Dubai Holding under the leadership of Sheikh Ahmed bin Saeed Al Maktoum, with […]Two of Dubai’s largest state-backed developers – Nakheel and Meydan – will merge into Dubai Holding, the investment vehicle of Dubai’s Ruler Sheikh Mohammed bin Rashid Al Maktoum, to create a new global economic entity. 

Nakheel and Meydan will become part of Dubai Holding under the leadership of Sheikh Ahmed bin Saeed Al Maktoum, with the board of the two companies being abolished, the UAE’s state-owned Wam news agency reported.

The two companies under Dubai Holding’s umbrella will develop a highly diversified conglomerate operating in several sectors, including real estate, tourism, hospitality, leisure and entertainment and investments.

“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,” Sheikh Mohammed said.

“We are optimistic about an upcoming phase where we will multiply our growth and compete with our ambitions,” he added.

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