Nakheel and Meydan to merge under Dubai Holdings, Sheikh Mohammed announced

In a post on his “X” account (formerly known as Twitter), Sheikh Mohammed said: “In a significant step to boost our economic progress, today we ordered the merger of Nakheel and Meydan under the umbrella of Dubai Holding. The move is intended “we aim 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 headed by Sheikh Ahmed bin Saeed Al Maktoum, the ruler of Dubai said.

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

“Our best wishes to the team as it embarks on this new mission. We optimistically anticipate a next phase marked by accelerated growth and ambitious competition,” Sheikh Mohammed said.

Sheikh Ahmed, who is also CEO and Chairman of the Board of Directors of Emirates Group, and Chairman of the Dubai Civil Aviation Authority, said: “Inspired by the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Dubai is ready to enter a new era of economic advancement.”

He added: “The merger of Nakheel and Meydan under the umbrella of Dubai Holding marks a significant step towards strengthening financial efficiency and fostering deeper global influence. With a diverse portfolio spanning multiple sectors, Dubai Holding is poised to strengthen its competitive advantage both regionally and globally, closely aligning with the ambitious objectives outlined in the Dubai Economic Vision 2033.”

Sheikh Ahmed said: “I am privileged to lead this transformative effort and am encouraged by the limitless potential that lies ahead for our nation.”

Since its inception in 2004, Dubai Holding has continued to take positive steps aimed at fostering a knowledge-based economy driven by innovation. Dubai Holding includes Jumeirah Group, Dubai Properties and TECOM Group among its portfolio. TECOM Group alone owns and operates ten sector-focused business groups, with Dubai Internet City and Dubai Media City being the flagships.

Nakheel and Meydan have launched several projects across multiple sectors including real estate, retail, hospitality, food and beverage, leisure and entertainment, and healthcare.

“Nakheel and Meydan will join Dubai Holding to further develop a highly diversified conglomerate operating in various sectors of real estate, tourism, hospitality, leisure and entertainment and investments. This move will combine a complementary set of services and expertise to diversify the economy . and maximize its competitiveness in the global market,” said the state news agency WAM.