On Tuesday, the Dubai Media Office announced that under the directive of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, Meraas will join forces with Dubai Holding.
Meraas is set to become part of Dubai Holding, under the leadership of His Highness Sheikh Ahmed bin Saeed Al Maktoum. According to the directive, the move comes in an effort to sustain and advance growth through a unified and integrated vision that builds on gains, spurs efforts and boosts Dubai’s global competitiveness.
Dubai Holding lists Jumeirah Group, Dubai Properties and TECOM Group among its portfolio. TECOM Group alone owns and operates ten sector-focused business clusters, with Dubai Internet City and Dubai Media City being the flagships. Meraas has launched several projects in multiple sectors including real estate, retail, hospitality, food and beverage, leisure and entertainment and healthcare. Meraas 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 maximise their competitiveness in the global marketplace.