Property firm Meraas to become part of Dubai Holding

The move is an effort to sustain and advance growth through a unified and integrated vision

  
Meraas to highlight residences at Port de La Mer at Cityscape Global 2018. Image used for illustrative purpose.

Meraas to highlight residences at Port de La Mer at Cityscape Global 2018. Image used for illustrative purpose.

Meeras/Handout via Thomson Reuters Zawya

DUBAI: Under the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, Meraas will join forces with Dubai Holding 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.

Meraas is set to become part of Dubai Holding, under the leadership of His Highness Sheikh Ahmed bin Saeed Al Maktoum.

Since its establishment in 2004, Dubai Holding has continued to create positive strides aimed at fostering an innovation-driven knowledge-based economy.

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.

This strategic vision will provide an ideal platform to address the growing demand for specialised services globally and seeks to leverage new opportunities that are emerging and serve the global demand expected in the long term.

© WAM (Emirates News Agency) 2020

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