Sign in
Dubai Holding expands portfolio with Nakheel + Meydan merger: Dubai’s government-backed real estate firms Nakheel and Meydan are set to merge into one entity held by Dubai’s investment vehicle, Dubai Holding, according to a statement from Dubai’s Media Office. The consolidation of the real estate giants will see both of their boards of directors dissolved, while Sheikh Ahmed bin Saeed Al Maktoum — who is also Emirates Group CEO and chairman — will head the new entity. No details were provided on the value of the transaction.
Background: Dubai’s government took over Nakheel — the developer of the emirate’s palm tree-shaped islands — in 2011 from its parent company, Dubai World, as part of a debt restructuring process following the 2009 real estate crash. Meydan launched in 2010 with its famous racecourse, which hosts the horse race Dubai World Cup, and has since expanded to include residential areas, a freezone, a mall, and a hotel.
Dubai Holding — which manages assets ranging from entertainment to hospitality and real estate — already owns a wide range of real estate assets in Dubai, including all of Dubai Properties’, Tecom’s and Meraas’ communities. That includes Business Bay, Jumeirah Beach Residence, City Walk, and Mudon, to name a few.
The merger will help boost Dubai Holding’s portfolio: The move aims to create a “global economic entity” operating across diverse sectors, including technology, media, hospitality, real estate, and retail, Dubai Ruler Sheikh Mohammed bin Rashid Al Maktoum said on X. The primary objective of the new entity is to improve the companies’ financial efficiency, with the merger paving the way for Dubai Holding to hold “assets worth hundreds of bns.”
