Dubai: Dubai Holding, a global investment holding company, and Meraas, Dubai’s premier developer and operator of lifestyle destinations, announced today the launch of an economic relief package aimed at supporting existing business partners and customers across their portfolio of companies.
The economic relief package which amounts to more than AED 1 billion is designed to partially alleviate the burdens encumbered by some of the businesses or individuals within the Dubai Holding and Meraas ecosystem, who have been impacted by the outbreak of COVID-19.
Task forces have been established at both Dubai Holding and Meraas to look at the specific requirements on a case-by-case basis to ensure that sufficient economic relief and support is made available.
About Dubai Holding
Dubai Holding is a diversified global company with operations in 13 countries that employs over 20,000 people. Established in 2004, Dubai Holding manages AED130 billion worth of assets that support the diversification and growth of Dubai’s economy across 12 sectors, including tourism, hospitality, real estate, media, ICT, education, science, retail, industry and design.
The company’s portfolio includes:
- Jumeirah Group, a global luxury hotel company that operates a world-class 6,500+-key portfolio of 26 properties across the Middle East, including the flagship Burj Al Arab, Europe and Asia, with more properties currently under construction around the globe.
- Dubai Properties, the master developer and residential real estate development arm of Dubai Holding behind Dubai’s most renowned and iconic destinations such as Jumeirah Beach Residence and Business Bay.
- TECOM Group, the owner and operator of 10 sector-focused business districts, including Dubai Internet City and Dubai Media City.
- Dubai Asset Management, one of the largest residential asset management companies in the UAE providing owners’ association management, community management, leasing and property management services to individual home owners and institutional landlords.
- Dubai Retail, the retail management company that focuses on developing, operating and managing Dubai Holding's extensive range of strategically located retail assets across prime destinations and communities.
- Arab Media Group, the media and entertainment arm that comprises Global Village, Arabian Radio Network, Multi-Platform Network and Done Events.
Meraas is a Dubai-based conglomerate that aims to enhance the emirate’s cityscape with a human-centric approach to developing assets in the real estate, tourism, hospitality, F&B, retail, leisure and entertainment, technology, maritime, and healthcare sectors.
Meraas pursues its mission to build creative urban culture where thriving communities can take root. Among its investments are some of the most admired real-estate properties in premium locations, such as Bluewaters Residences, Bvlgari Residences, Cherrywoods, City Walk Residences, Nikki Beach Residences, Port de La Mer Residences, Villa Amalfi, and Zabeel Saray Royal Residence.
The company’s portfolio comprises over 80 million square feet of total developed land, more than 5000+ homes, 1400+ retail units, and 15 landmark destinations, including Boxpark, Al Seef, Bluewaters, City Walk, Dubai Harbour, Jumeira Bay, Kite Beach, La Mer, Last Exit, Pearl Jumeira, The Beach and The Outlet Village.
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© Press Release 2020