Dubai: The Dubai Media Office on Tuesday announced that Meraas would come under the umbrella of 'Dubai Holding' as per the directives of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai and under the leadership of Sheikh Ahmed bin Saeed Al Maktoum.
A statement from the media office said, "Meraas will join forces with Dubai Holding in an effort to sustain and advance growth through a unified and integrated vision that builds on gains, spurs efforts and boosts Dubai’s global competitiveness.
Dubai Holding lists Jumeirah Group, Dubai Properties and TECOM Group among its portfolio. TECOM Group owns and operates ten sector-focused business clusters, with Dubai Internet City and Dubai Media City being the flagships.
Meraas has launched several projects in multiple sectors including real estate, retail, hospitality, food and beverage, leisure and entertainment and healthcare.
The statement added, "Meraas will join Dubai Holding to further develop a highly diversified conglomerate operating in several sectors across real estate, tourism, hospitality, leisure and entertainment and investments. This move is set to combine a complementary suite of services and expertise to diversify the economy and maximise their competitiveness in the global marketplace.
"This strategic vision will provide an ideal platform to address the growing demand for specialised services globally and seeks to leverage new opportunities that are emerging and serve the global demand expected in the long term."