The Dubai Holding brings together the companies Nakheel and Meraas under its wing.

The companies Nakheel and Meraas are joining forces under the banner of Dubai Holding Group to develop real estate in Dubai. According to a report from Emirates News Agency (WAM) yesterday, Dubai's governor Sheikh Mohammed bin Rashid Al Maktoum directed both companies to merge under the investment fund Emirates Dubai Holding. This merger is expected to create a more financially efficient structure with assets worth "hundreds of billions" and expertise in various sectors, capable of competing at both regional and global levels, according to Bloomberg.

The merger of Nakheel and Meraas into Dubai Holding represents a significant shift in the real estate and development sector in Dubai. As part of the restructuring, the boards of directors of both Nakheel and Meraas will be dissolved, according to reports from WAM.

The real estate market in Dubai has seen significant demand in recent years, and according to Bloomberg, the market has notably increased demand, driven by an influx of people from around the world. And although mortgage rates have reached their highest levels in two decades, property prices in the city are approaching record levels, confirming Dubai's recovery after a prolonged downturn.

The company Nakheel, known for its unique projects such as the palm-shaped islands, has seen significant success in the market, launching a project last year that generated great interest from buyers who stood in line in the scorching heat to purchase homes priced at $5 million.