Dubai’s real estate market has always pushed boundaries resulting in architectural marvels that defy convention. From man-made islands to the tallest buildings, Dubai’s skyline reflects the continuous progress the real estate industry has made over the years. Amidst these marvels, the visionary projects of Nakheel and Meydan – two of the Emirate’s leading real estate developers, have left an indelible mark on the urban landscape. Recently, the merger of these two real estate giants Nakheel and Meydan under Dubai Holding has been announced. This merger will aid in capitalising on high real estate demands in Dubai.
Let’s take a look at the merger of Nakheel and Meydan with Dubai Holding and elaborate on what it brings to the table for the real estate industry.
Nakheel and Meydan Merger
Under the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, the Nakheel-Meydan merger will take place. The core aim of this merger is to increase Dubai’s economic growth and global competitiveness.
Nakheel, the mastermind behind Palm Jumeirah and Meydan, credited for the development of Mohammed Bin Rashid City, will work together to capture the larger market share. Besides market share, the merger will affect the real estate industry in multiple ways.
What to Expect from the Merger?
Two of the leading real estate developers in Dubai, Nakheel and Meydan will merge under the umbrella of Dubai Holding. The new merger is aimed at increasing market competitiveness, future launches of projects and the pursuit of global real estate standards.
Moving forward, the merger will result in a global entity that will own assets worth hundreds of billions in different sectors. Moreover, the merger will also help in capturing the larger portion of Dubai’s real estate market.
The Dubai Economic Agenda D33 which aims to increase Dubai’s economy twice by 2033 will also be catered through the venture. That said, if you are troubled with an off-plan project, here is how to deal with cancelled off-plan projects.
FAQs
Who owns Nakheel properties?
The Nakheel properties are owned by the Dubai Government and were recently merged with Dubai Holdings.
Who owns Dubai Holding?
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai owns Dubai Holdings.
Are Nakheel and Meydan going to merge?
Yes, as per the recent announcement, Nakheel and Meydan merged under Dubai Holdings.
This was all about the merger of Nakheel and Meydan with Dubai Holding. The merger is predicted to boost Dubai’s real estate market growth with the introduction of new projects and developments. If you are also interested in availing of this growing market, browse through these properties for sale in Dubai and invest in real estate.
Besides if you are new to the market, here is a Smart Investment Map in Dubai that might help you.
Stay tuned to dubizzle’s property blog for more information on real estate developments.
