(MENAFN) In a strategic move aimed at consolidating its global economic presence, Dubai Holding, under the directive of Sheikh Mohammed bin Rashid Al Maktoum, Vice President of the UAE, Prime Minister, and Ruler of Dubai, has announced the inclusion of Nakheel and Meydan within its umbrella. This decision signifies the formation of a formidable economic entity with a diverse portfolio spanning key sectors such as technology, media, hospitality, real estate, and retail, among others. Sheikh Ahmed bin Saeed Al Maktoum has been appointed to lead this newly integrated entity, which is poised to become a powerhouse in both regional and global markets.
Expressing his vision for the venture, Sheikh Mohammed emphasized the objective of creating a more streamlined and financially efficient entity. With combined assets valued at hundreds of billions, the integrated Dubai Holding is set to leverage its extensive expertise across various sectors to compete effectively on a global scale. By harnessing global talent and resources, the entity aims to drive innovation, foster economic growth, and enhance Dubai's standing as a leading hub for investment and commerce.
In a related development, Emirates NBD, the largest bank in Dubai by asset size, revealed last November that the Investment Corporation of Dubai had transferred 937.5 million of its shares to Dubai Holding. This move underscores Dubai Holding's strategic positioning within the emirate's economic landscape, further solidifying its role as a key player in driving sustainable growth and prosperity. As Dubai continues to pursue its ambitious economic agenda, the integration of Nakheel and Meydan into Dubai Holding marks a significant milestone in its journey towards establishing a dynamic and resilient economy capable of meeting the challenges of the future.
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