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Nakheel and Meydan to merge under Dubai Holdings

Posted by GPG Staff on March 16, 2024

Sheikh Mohammed also disclosed that Sheikh Ahmed bin Saeed Al Maktoum will lead the newly merged entity.

On Saturday, His Highness Sheikh Mohammed bin Rashid Al Maktoum, the Vice President and Prime Minister of the UAE, revealed the merger of Nakheel and Meydan under the Dubai Holding umbrella.

In a post on his “X” account, Sheikh Mohammed said, “In a significant step towards bolstering our economic progress, today we ordered the merger of Nakheel and Meydan under the Dubai Holding umbrella. The move aims to establish a formidable global economic entity with a diverse portfolio spanning technology, media, hospitality, real estate, retail, and other sectors. The entity will be led by Sheikh Ahmed bin Saeed Al Maktoum.

The objective is to forge a more financially streamlined entity boasting assets worth hundreds of billions, enriched with global expertise across multiple sectors. This consolidation positions us to compete effectively both regionally and globally, aligning with our national objectives and propelling us towards realizing Dubai’s Economic Vision 2033.

Our best wishes to the team embarking on this new mission. With optimism, we anticipate a forthcoming phase marked by accelerated growth and ambitious competition”

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