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“Nakheel and Meydan to join Dubai Holding”

by Dubaiforum

Nakheel and Meydan Collaborate with Dubai Holding to Enhance Economic Growth

In a groundbreaking move to bolster economic growth and enhance Dubai’s global competitiveness, leading UAE master-developers Nakheel and Meydan will be joining forces with Dubai Holding. This strategic partnership aims to integrate a unified vision that builds on existing gains, spurs innovative efforts, and propels Dubai towards sustained growth.

Dubai Holding, established in 2004, has been instrumental in fostering an innovation-driven knowledge-based economy. With a diverse portfolio that includes Jumeirah Group, Dubai Properties, and Tecom Group, Dubai Holding has been at the forefront of driving economic development in the region. Tecom Group, in particular, operates ten sector-focused business clusters, with flagship entities such as Dubai Internet City and Dubai Media City.

Nakheel and Meydan, renowned for their contributions to various sectors including real estate, retail, hospitality, and entertainment, will now collaborate with Dubai Holding to further expand their reach. By joining forces, these developers aim to create a highly diversified conglomerate operating across multiple industries, including real estate, tourism, hospitality, and investments.

This strategic alignment is set to combine a complementary suite of services and expertise, diversifying the economy and enhancing competitiveness in the global marketplace. Under the new arrangement, Nakheel and Meydan will become integral parts of Dubai Holding, effectively abolishing their individual boards.

HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, highlighted the significance of this collaboration, emphasizing the creation of a global economic entity with a diverse portfolio. Sheikh Mohammed expressed optimism about the growth potential of the new partnership, emphasizing the goal of achieving national objectives and advancing the Dubai Economic Agenda D33.

By leveraging the specialized services and expertise of all involved entities, this strategic vision aims to capitalize on emerging opportunities and address global demand in the long term. Moving forward, the collaboration between Nakheel, Meydan, and Dubai Holding is poised to drive economic growth, competition, and innovation in Dubai, fulfilling the economic vision for the people of the region.

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