Real estate companies Nakheel and Meydan have been merged under the umbrella of Dubai Holding, Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, announced on Saturday.
Nakheel and Meydan are set to become part of Dubai Holding under the leadership of Sheikh Ahmed bin Saeed, the Executive Office said.
The boards of directors of Nakheel and Meydan will be abolished.
The two companies 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, the Executive Office added.
“In a new milestone to reinforce and boost our economic growth, today we directed the inclusion of Nakheel and Meydan companies under the umbrella of Dubai Holding, forming a global economic entity with a diverse portfolio in sectors such as technology, media, hospitality, real estate, retail, and more, led by Sheikh Ahmed bin Saeed Al Maktoum,” Sheikh Mohammed said.
“The goal is to create a more financially efficient entity, owning assets worth hundreds of billions, and comprising global expertise across various sectors with which we can compete regionally and globally, achieving our national objectives, and realising the Dubai Economic Agenda D33.
“Wishing all the best to the team on this new mission … We are optimistic about an upcoming phase where we will multiply our growth, compete with our ambitions, and achieve our economic vision for our people.”
Since its establishment in 2004, Dubai Holding has aimed at fostering an innovation-driven knowledge-based economy, the Executive Office said.
Dubai Holding's portfolio includes Jumeirah Group, Dubai Properties and Tecom Group.
Tecom Group owns and operates 10 sector-focused business clusters, with Dubai Internet City and Dubai Media City as its flagships.
Meanwhile, Nakheel and Meydan have unveiled several projects in sectors including property, retail, hospitality, food and beverage, leisure and entertainment and health care.
Nakheel and Meydan will join Dubai Holding to develop a highly diversified conglomerate operating in several sectors across property, tourism, hospitality, leisure and entertainment, and investments, the Executive Office said.
“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,” it added.
“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.”
The beginnings of Dubai Holding are strongly interlinked with the emirate's strategies in positioning itself as a global business and tourism centre.
The conglomerate is active in sectors including hospitality, property, asset management, entertainment and investments.
It is the personal corporate portfolio of Sheikh Mohammed, with Sheikh Ahmed as its current chairman.
Dubai Holding is behind many of the emirate's key properties. Among the first projects it launched was Madinat Jumeirah, which opened in 2004.
In the two years that followed, the organisation launched Dubai Studio City, Dubai International Academic City, du and Emirates International Telecommunications, which invests in telecom companies around the world.
Dubai Holding also took on several existing projects, including Dubai Media City and Dubai Internet City, both of which were vital in developing the emirate's media sector.
Tecom Group, which was a subsidiary of Dubai Holding, was established in 2005 to manage existing business districts and develop new ones with the government of Dubai.
Tecom is also behind Dubai Design District and Dubai Industrial City. Although Tecom went public in 2022, Dubai Holding remains a stakeholder.
Investments and joint ventures under the Dubai Holding portfolio include Dubai Hills Estate, du, Rove Hotels, and Dubai Waste Management Centre.
Projects under Meraas Holding and Merex Investment – a joint venture with Brookfield Asset Management – are also partly under the Dubai Holding umbrella. These include City Walk, La Mer and Bluewaters Island.
Dubai Holding also has the brands under Jumeirah Hotels group, such as Burj Al Arab, Jumeirah Beach Hotel, Hatta Wadi Hub, as well as hotels overseas, including Jumeirah Himalayas Hotel and Jumeirah Guangzhou.
Dubai Holding has several well-known developments under its entertainment division. Global Village, Ain Dubai, Dubai Parks and Resorts, Roxy Cinemas and the Wild Wadi waterpark are all within the conglomerate, along with radio stations, including Dubai 92, Dubai Eye and Virgin Radio.
Today, Dubai Holding has assets worth Dh130 billion ($35.4 billion) across more than a dozen countries.
“When we first started, we were faced with a challenging situation, as we only had one remote piece of land in Dubai and only a Dh200 million loan. Today the Group’s assets exceed Dh100 billion across different sectors,” Dubai Holding's former chairman Mohammad Al Gergawi said in 2017.
The merger of Nakheel and Meydan will open doors for more integration across sectors and collaboration within the property industry, according to Cherif Sleiman, chief revenue officer of Property Finder.
"Recent numbers have already been showing bright prospects for investments in the country. We believe this will further accelerate the availability of diverse project portfolios that cater to a constantly growing demand for various types of properties," he said.
"As a result, we expect property prices to stabilise in the mid term."
The specs
Engine: 3.9-litre twin-turbo V8
Transmission: seven-speed
Power: 620bhp
Torque: 760Nm
Price: Dh898,000
On sale: now
Results
5pm: Wadi Nagab – Maiden (PA) Dh80,000 (Turf) 1,200m; Winner: Al Falaq, Antonio Fresu (jockey), Ahmed Al Shemaili (trainer)
5.30pm: Wadi Sidr – Handicap (PA) Dh80,000 (T) 1,200m; Winner: AF Majalis, Tadhg O’Shea, Ernst Oertel
6pm: Wathba Stallions Cup – Handicap (PA) Dh70,000 (T) 2,200m; Winner: AF Fakhama, Fernando Jara, Mohamed Daggash
6.30pm: Wadi Shees – Handicap (PA) Dh80,000 (T) 2,200m; Winner: Mutaqadim, Antonio Fresu, Ibrahim Al Hadhrami
7pm: Arabian Triple Crown Round-1 – Listed (PA) Dh230,000 (T) 1,600m; Winner: Bahar Muscat, Antonio Fresu, Ibrahim Al Hadhrami
7.30pm: Wadi Tayyibah – Maiden (TB) Dh80,000 (T) 1,600m; Winner: Poster Paint, Patrick Cosgrave, Bhupat Seemar
The five pillars of Islam
1. Fasting
2. Prayer
3. Hajj
4. Shahada
5. Zakat
Our Time Has Come
Alyssa Ayres, Oxford University Press
COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
Straightforward ways to reduce sugar in your family's diet
- Ban fruit juice and sodas
- Eat a hearty breakfast that contains fats and wholegrains, such as peanut butter on multigrain toast or full-fat plain yoghurt with whole fruit and nuts, to avoid the need for a 10am snack
- Give young children plain yoghurt with whole fruits mashed into it
- Reduce the number of cakes, biscuits and sweets. Reserve them for a treat
- Don’t eat dessert every day
- Make your own smoothies. Always use the whole fruit to maintain the benefit of its fibre content and don’t add any sweeteners
- Always go for natural whole foods over processed, packaged foods. Ask yourself would your grandmother have eaten it?
- Read food labels if you really do feel the need to buy processed food
- Eat everything in moderation
More from Neighbourhood Watch
Our legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants
JAPAN SQUAD
Goalkeepers: Masaaki Higashiguchi, Shuichi Gonda, Daniel Schmidt
Defenders: Yuto Nagatomo, Tomoaki Makino, Maya Yoshida, Sho Sasaki, Hiroki Sakai, Sei Muroya, Genta Miura, Takehiro Tomiyasu
Midfielders: Toshihiro Aoyama, Genki Haraguchi, Gaku Shibasaki, Wataru Endo, Junya Ito, Shoya Nakajima, Takumi Minamino, Hidemasa Morita, Ritsu Doan
Forwards: Yuya Osako, Takuma Asano, Koya Kitagawa
%E2%80%98White%20Elephant%E2%80%99
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Jesse%20V%20Johnson%3Cbr%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Michael%20Rooker%2C%20Bruce%20Willis%2C%20John%20Malkovich%2C%20Olga%20Kurylenko%3Cbr%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%203%2F5%3C%2Fp%3E%0A
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
The President's Cake
Director: Hasan Hadi
Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem
Rating: 4/5
