HH Sheikh Ahmed bin Saeed Al Maktoum has been appointed to temporarily oversee Dubai Holding and Meraas by the Dubai Ruler.
HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai picked him to replace Abdulla Al Habbai, who had been chairman of Dubai Holding since 2017.
The leadership shake-up strengthens a strategy to “explore expansion” and “identity opportunities to maximise growth” for both companies, according to a statement on the UAE’s state-run news agency.
HH Sheikh Ahmed bin Saeed Al Maktoum – chairman and CEO of Emirates Airline – will“consolidate” the profile and position of both companies in the Middle East and around the world.
It is part of Dubai’s wider strategy to create a knowledge-based economy that puts innovation, energy and sustainability at the heart of its ambitious growth strategy.
Dubai Holding is a holding company that owns subsidiaries like hospitality operator Jumeirah Group, business enabler Tecom Group and real estate developer Dubai Properties.
It posted robust financial results in 2019 and has forecasted strong growth during the next five years.
Meanwhile, Meraas is a holding company responsible for leading a human-centric approach to developing real estate, tourism, hospitality, F&B, retail, leisure and entertainment, technology, maritime, and healthcare assets.
Dubai Holding and Meraas are both major clients for interior design and architecture companies in the UAE.