Meraas

{{Short description|UAE holding company}}

{{Multiple issues|

{{advert|date=November 2018}}

{{COI|date=September 2019}}

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{{Infobox company

| name = Meraas Holdings

| logo = Meraas-logo.svg

| type = Private company

| key_people = Sheikh Ahmed bin Saeed Al Maktoum, (Group Chairman)

| products = Real estate, tourism, retail, F&B, leisure and entertainment, hospitality, healthcare

| num_employees =

| parent = Dubai Holding

| foundation = {{Start date and age|2007}}

| location = Dubai, United Arab Emirates

| homepage = {{URL|https://www.meraas.com/en}}

| caption =

}}

Meraas is a holding company privately held and headquartered in Dubai with operations and assets in the United Arab Emirates. In 2020, Meraas become a subsidiary of Dubai Holding, following a directive from Sheikh Mohammed bin Rashid Al Maktoum, Ruler of Dubai.{{Cite news| title=Meraas to become part of Dubai Holding | work=Arabian Business | url=https://www.arabianbusiness.com/politics-economics/447957-meraas-to-become-part-of-dubai-holding }}{{Cite web|title=Property developer Meraas to become part of Dubai Holding|url=https://www.thenational.ae/business/property-developer-meraas-to-become-part-of-dubai-holding-1.1031166|access-date=2020-07-13|website=The National|date=9 June 2020 |language=en}}

History

Since its founding in 2007,{{Cite news|url=https://www.zawya.com/mena/en/company/Meraas_Holding_L_L_C-1008468/|title=Meraas Holding (LLC){{!}} Zawya|work=Zawya|language=en-US}} the Dubai-based conglomerate has launched several projects in multiple sectors including real estate, retail, hospitality, food and beverage, leisure and entertainment and healthcare. Sheikh Ahmed bin Saeed Al Maktoum serves as the Group Chairman of Meraas.{{Cite news|url=https://gulfnews.com/business/property/sheikh-ahmed-in-control-at-dubai-holding-meraas-1.67673807|title=Sheikh Ahmed in control at Dubai Holding, Meraas {{!}} Gulf News|work=Gulf News|language=en-US}}

The Meraas real estate portfolio comprises property development sales and asset management across Dubai. Projects include Port de La Mer,{{Cite news|url=http://meconstructionnews.com/31217/meraas-launches-port-de-la-mer-residential-community|title=Meraas launches Port de La Mer residential community {{!}} Middle East Construction News|work=MEConstructionNews.com|language=en-US}} City Walk,{{Cite news|url=https://www.thenational.ae/uae/dubai-s-own-central-park-new-development-planned-for-city-walk-1.828790|title=Dubai's own Central Park: new development planned for City Walk | newspaper=The National |language=en-US}} Bluewaters island, Bulgari Resort,{{Cite news|url=https://gulfbusiness.com/dubais-meraas-launches-bulgari-residences/ |title=Dubai's Meraas Launches Bulgari Residences | magazine=Gulf Business |language=en-US}} Nikki Beach Resort, Spa & Residences and Villa Amalfi in Jumeirah bay.{{citation needed|date=September 2019}}

In 2019 Meraas launched its latest destination, Dubai Harbour. The proposed development was promoted as "the largest marina in the Middle East and North Africa", comprising a total of 1,100 berths.{{Cite news|url=https://www.arabianbusiness.com/cars-boats/408040-dubai-seeks-to-become-global-marinas-hub-under-new-deal|title=Dubai seeks to become global marinas hub under new deal {{!}} Arabian Business|work=arabianbusiness.com|language=en-US}} It was also due to be home to the 135-metre Dubai Lighthouse.{{Cite news|url=https://www.thenational.ae/business/property/dubai-harbour-sheikh-mohammed-unveils-major-new-project-with-middle-east-s-biggest-marina-1.40945|title=Dubai Harbour: Sheikh Mohammed unveils major new project with Middle East's biggest marina {{!}} The National|work=thenational.ae|language=en-US}}

In 2021, Meraas unveiled Ain Dubai.{{Cite news|url= https://gulfnews.com/uae/worlds-tallest-ferris-wheel-ain-dubai-to-open-in-2020-1.1555479653856|title=World's tallest Ferris wheel 'Ain Dubai' to open in 2020 {{!}} Gulf News|work=gulfnews.com|language=en-US}}{{fv|reason=How does a source from 2019 (which mentions a date in 2020) support a claim of opening in 2021? Time travel?|date=October 2022}} Standing at more than 250-metres tall and has over 9,000 tonnes of steel, the Ain Dubai is located on the Bluewaters island destination. During construction, the structure was described as the "largest Ferris wheel in the world".{{Cite news|url=https://www.khaleejtimes.com/nation/largest-ferris-wheel-in-the-world-rises-off-jumeirah|title=Largest Ferris wheel in the world rises off Jumeirah {{!}} Khaleej Times|work=khaleejtimes.com|language=en-US}}{{speculation inline|date=January 2024}}{{update inline|date=August 2020}}

Lines of business

The firm's real estate division comprises property development sales and asset management. Projects include City Walk, Bluewaters Island, Jumeira Bay, Pearl Jumeira, La Mer, and Dubai Harbour.{{Cite news|url=https://sheikhmohammed.ae/en-us/news/details?nid=24351&cid=|title=Mohammed bin Rashid announces development of 'Dubai Harbour' {{!}} SheikhMohammed.ae|work=sheikhmohammed.ae|language=en-US}} In 2019, Meraas launched its first townhouse community in Dubai, Cherrywoods.{{Cite web|url=https://gulfnews.com/business/property/dubais-developers-have-sales-sell-outs-and-a-skyscraper-launch-in-busy-week-1.61815410|title=Dubai's developers have sales sell-outs and a skyscraper launch in busy week|website=gulfnews.com|language=en|access-date=2019-02-26}}

The firm's "Leisure & Entertainment" division operates entertainment destinations and venues, including the Dubai Safari.{{Cite news|url=https://www.emirates247.com/business/meraas-signs-agreement-with-dubai-municipality-to-manage-dubai-safari-2018-04-10-1.667879|title=Meraas signs agreement with Dubai Municipality to manage Dubai Safari |work=Emirates24/7|language=en-US}} Other projects include The Green Planet in City Walk,{{Cite news|url=https://gulfnews.com/uae/dubai-scoops-out-its-first-tropical-forest-1.1888801|title=Dubai scoops out its first tropical forest | newspaper=Gulf News |language=en-US}} a destination that recreates a tropical forest, Hub Zero in City Walk, an indoor entertainment centre comprising rides and virtual reality experiences,{{Cite news|url=https://gulfnews.com/business/tourism/meraas-launches-hub-zero-at-city-walk-1.1681099|title=Meraas launches Hub Zero at City Walk | newspaper=Gulf News |language=en-US}} Hawa Hawa in La Mer, an inflatable playground,{{Cite news|url=https://www.thenational.ae/lifestyle/family/inflatable-playground-hawa-hawa-comes-to-dubai-1.677865|title=Inflatable playground Hawa Hawa comes to Dubai | newspaper=The National |language=en-US}} and Ain Dubai in Bluewaters, the world's tallest observation wheel.{{Cite news|url=https://whatson.ae/dubai/2019/04/worlds-tallest-observation-wheel-ain-dubai-to-open-in-2020/|title=World's tallest observation wheel, Ain Dubai, will open in 2020 {{!}} What's On|work=whatson.ae|language=en-US}}

The hospitality division handles hotel operations for the group and has partnered with hotel operators such as Bvlgari Hotels and Resorts,{{Cite news|url=https://gulfnews.com/business/tourism/super-premium-bulgari-hotel-opens-in-dubai-1.2136158|title=Super premium Bulgari hotel opens in Dubai {{!}} Gulf News|work=gulfnews.com|language=en-US}} Jumeirah, Marriott, Nikki Beach Hotels and Resorts, Caesars Entertainment. Meraas Hospitality properties include La Ville Hotel & Suites, Caesars Palace Bluewaters Dubai, Caesars Resort Bluewaters Dubai, Zabeel Saray, and Al Seef Hotel, Nikki Beach Resort & Spa.{{citation needed|date=September 2019}}

Meraas also has a retail division, food and beverage division, and a healthcare division.{{fact|date=October 2021}} The latter include the Valiant Clinic in City Walk.{{Cite news|url=https://gulfbusiness.com/dubai-s-meraas-launches-clinic-at-city-walk-as-part-of-new-healthcare-unit/|title=Dubai's Meraas launches clinic at City Walk as part of new healthcare unit | magazine=Gulf Business |language=en-US}}

Real estate

Meraas' real estate division comprises property development, sales and asset management across UAE.{{citation needed|date=September 2019}}

Its developments have included Bluewaters Residences, a collection of one to four-bedroom apartments, penthouses and townhouses located on the man-made island of Bluewaters.{{Cite news|url=https://www.constructionweekonline.com/business/dubai-properties-and-meraas-are-building-the-fabric-of-community-living-in-the-city|title=Dubai Properties and Meraas are building the fabric of community living in the city | magazine=constructionweekonline.com |language=en-US |access-date=2023-05-29|date=2022-11-02}}{{Cite news|url=https://timesofoman.com/article/73439-bluewaters-residences-by-meraas-welcomes-its-first-residents|title=Bluewaters Residences by Meraas welcomes its first residents | magazine=timesofoman.com |language=en-US |access-date=2023-05-29|date=2019-02-16}} The first phase of Bluewaters Residence was handed over to residents from February 2019.{{Cite news|url=https://gulfbusiness.com/dubais-bluewaters-project-begins-handover-first-residents/|title=Dubai's Bluewaters project begins handover to its first residents | magazine=Gulf Business |language=en-US}} Other developments include Bvlgari Residences, a series of Bvlgari branded residences which were first handed over to residents from February 2018.{{Cite news|url=https://www.arabianbusiness.com/news/399559-first-handovers-announced-at-bulgari-residences-dubai|title=First handovers announced at Bulgari Residences Dubai {{!}} Arabian Business|work=arabianbusiness.com|language=en-US}}

Central Park at City Walk is an urban residential development,{{Cite news|url=https://gulfnews.com/business/property/dubais-property-developer-meraas-unveils-plans-to-build-new-green-community-central-park-at-city-walk-1.1550737658424|title=Dubai's property developer Meraas unveils plans to build new green community: 'Central Park at City Walk' | newspaper=Gulf News |language=en-US}} while Nikki Beach Residences are a set of branded homes adjacent to Nikki Beach Resort & Spa Dubai in Pearl Jumeirah.{{citation needed|date=September 2019}} The development includes one to four-bedroom apartments, penthouses and apartment townhouses.{{Cite news|url=https://gulfnews.com/business/property/meraas-starts-handover-of-nikki-beach-residences-1.2194740|title=Meraas starts handover of Nikki Beach Residences {{!}} Gulf News|work=gulfnews.com|language=en-US}}

The company also owns a number of real estate plots in Dubai, including Jebel Ali Hills,{{Cite news|url=https://gulfnews.com/business/property/investors-get-their-fill-buying-plots-in-dubai-1.1592485|title=Investors get their fill buying plots in Dubai {{!}} Gulf News|work=gulfnews.com|language=en-US}} Jebel Ali Industrial Development, Jumeirah Bay and Al Warsan Industrial Plot.{{fact|date=January 2024}}

Destinations

{{directory|section|date=June 2021}}

Al Seef

Al Seef is a 1.8-kilometre waterfront promenade. It has a marina with 56 berths for private yachts.{{Cite news|url=https://gulfbusiness.com/new-sme-district-launched-dubais-al-seef/ |title=New SME district launched in Dubai's Al Seef | magazine=Gulf Business |language=en-US}}

Bluewaters

Bluewaters features residential, retail and hospitality zones bordered by walkways and a private beach.{{citation needed|date=September 2019}} The destination is home to Ain Dubai, the world's tallest and largest observation wheel that stands at a height of 250+ metres.{{Cite news|url=https://gulfbusiness.com/worlds-tallest-observation-wheel-ain-dubai-completed-next-year |title=World's tallest observation wheel, Ain Dubai, to be completed next year | magazine=Gulf Business |language=en-US}}

Boxpark

In 2015, Meraas launched Boxpark,{{Cite news|url=https://gulfnews.com/business/retail/meraas-launches-boxpark-in-dubai-1.1452307 |title=Meraas launches BoxPark in Dubai {{!}} Gulf News|work=gulfnews.com|language=en-US}} a destination spanning across 1.2-kilometres located on Al Wasl road.{{citation needed|date=September 2019}}

City Walk

{{main|City Walk, Dubai}}

In December 2013, Meraas launched City Walk,{{Cite news|url=https://www.emirates247.com/citywalk-launched-in-dubai-2013-12-08-1.530538 |title=Citywalk launched in Dubai | website=Emirates247 |language=en-US}} an open-air lifestyle destination.{{fact|date=January 2024}}

Dubai Harbour

In January 2017, His Highness Shaikh Mohammed bin Rashid Al Maktoum unveiled Dubai Harbour,{{Cite news|url=https://gulfnews.com/business/property/shaikh-mohammad-bin-rashid-unveils-new-megaproject-dubai-harbour-1.1955115|title=Shaikh Mohammad Bin Rashid unveils new megaproject: Dubai Harbour {{!}} Gulf News|work=gulfnews.com|language=en-US}} with berths for yachts and views of some of Dubai's landmarks.{{advert inline|date=September 2019}}

Kite Beach

Kite Beach features a 14-kilometre running track as well as volleyball courts, and a variety of food trucks, retail outlets, and eateries.{{citation needed|date=September 2019}} The destination hosts community art fairs and markets, sports tournaments and races.{{Cite news|url=https://gulfnews.com/going-out/society/1st-gov-games-begins-on-wednesday-1.2218355|title=1st Gov Games begins on Wednesday {{!}} Gulf News|work=gulfnews.com|language=en-US}}

La Mer

La Mer, launched in October 2017,{{Cite news|url=https://www.thenational.ae/uae/new-beach-and-entertainment-space-la-mer-opens-to-dubai-public-1.667466

|title=New beach and entertainment space La Mer opens to Dubai public {{!}} The National|work=thenational.ae|language=en-US}} is a beachfront destination located on jumeirah 2.5-kilometres of beach.{{citation needed|date=September 2019}}

Last Exit

Last Exit is a themed food truck concept offering "gourmet" street food.{{Cite news|url=https://www.thenational.ae/business/meraas-to-expand-last-exit-food-truck-centres-in-dubai-1.179619 | title=Meraas to expand Last Exit food truck centres in Dubai {{!}} The National|work=thenational.ae|language=en-US}}

Pearl Jumeira

Pearl Jumeira is home to Nikki Beach Resort and Spa Dubai that opened its doors on December 20{{when|date=September 2019}} and features 132 keys including 117 rooms and suites, 15 villas and 63 private residences.{{Cite news|url=https://gulfbusiness.com/new-luxury-nikki-beach-resort-opens-in-dubai/ |title=New luxury Nikki Beach resort set to open in Dubai's Pearl Jumeira | magazine=Gulf Business |language=en-US}}

The Outlet Village

Launched in September 2016, The Outlet Village is an indoor retail destination.{{Cite news|url=https://gulfnews.com/business/property/the-outlet-village-launched-in-dubai-1.1891377|title=The Outlet Village launched in Dubai {{!}} Gulf News|work=gulfnews.com|language=en-US}}

Enterprises

The enterprise division is responsible for the management of shareholders’ investments, joint ventures and commercial partnerships. The division assesses business opportunities and engages partners that add value to the firm's portfolio. This division manages Dubai Parks and Resorts, Rove Hotels, Dubai Hills Estate, Dubai Water Canal, Caesars Bluewaters Dubai and Dubai Cruise Terminal.{{cite news |title=10 facts about the upcoming Dubai Harbour |url=https://gulfnews.com/going-out/10-facts-about-the-upcoming-dubai-harbour-1.2088145 |work=gulfnews.com |language=en}}

Dubai Cruise Terminal, located in Dubai Harbour, is proposed to include two cruise terminals, capable of accommodating up to three cruise ships concurrently and up to 13,200 passengers.{{Cite news|url=http://saudigazette.com.sa/article/535571|title=Dubai Cruise Terminal to be main hub for cruise tourism {{!}} Saudi Gazette |work=saudigazette.com|language=en-US}}

Caesars Bluewaters Dubai, a strategic partnership by Meraas and Caesars Entertainment Corporation, includes two hotels, a beach club and theatre to the man-made island of Bluewaters Island.

{{Cite news|url=https://www.thenational.ae/uae/all-bets-are-off-as-caesars-palace-resort-set-to-open-in-dubai-1.721665|title=All bets are off as Caesars Palace resort set to open in Dubai {{!}} The National = |work=thenational.ae|language=en-US}}

DXB Entertainments, a Meraas company, is the largest leisure and entertainment company in the region and the owners of Dubai Parks and Resorts, the region's largest integrated theme park destination which is responsible for the operation of Roxy Cinemas and Shooting Stars.{{Cite news|url=https://gulfbusiness.com/dubai-parks-operator-shakes-up-senior-management-it-unveils-new-strategy/|title=Dubai Parks operator shakes up senior management as it unveils new strategy | magazine=Gulf Business |language=en-US}}{{failed verification|date=August 2020|reason=Source doesn't mention 'Shooting Stars', or confirm the relationship between Meraas and Shooting Stars. The text here also doesn't seem to clearly explain the relationship between Meraas and DXB Entertainments }}

Rove Hotels is a contemporary hospitality brand.{{Cite news|url=https://www.hospitalitynet.org/news/4068616.html|title=Rove Hotels, Dubai's Smart New Hotel Brand for the Modern Traveller, to Roll Out in 10 Central Locations by 2020 {{!}} Hospitality Net = |work=hospitalitynet.org|language=en-US}}

Dubai Hills Estate, a joint venture by Meraas and Emaar Properties, is one of the largest master-planned communities in Dubai.{{Cite news|url=https://gulfbusiness.com/emaar-launches-residences-starting-dhs664888-dubai-hills-estate/|title=Emaar launches residences starting at Dhs664,888 in Dubai Hills Estate | magazine=Gulf Business |language=en-US}}

Dubai Water Canal was developed by Meraas, Meydan and the Roads and Transport Authority (Dubai).{{Cite news|url=https://www.khaleejtimes.com/nation/dubai/dubai-water-canal-all-that-you-need-to-know|title=Dubai Water Canal: All that you need to know {{!}} Khaleej Times |work=khaleejtimes.com|language=en-US}}

Initiatives

In 2018, Meraas launched Visit Hatta,{{Cite news|url=https://www.thenational.ae/business/travel-and-tourism/dubai-s-meraas-unveils-hatta-eco-tourism-projects-1.748885|title=Dubai's Meraas unveils Hatta eco-tourism projects {{!}} The National|work=The National|language=en-US}} an initiative which comprises an adventure and activity centre, and a number of resort properties.{{citation needed|date=August 2020}}

The company is also responsible for implementing Hala China, a joint initiative by Meraas and Dubai Holding{{Cite news|url=https://gulfnews.com/going-out/society/hala-china-initiative-launched-with-chinese-musical-1.2252203|title=Hala China initiative launched with Chinese musical {{!}} Gulf News|work=Gulf News|language=en-US}} which is aligned with Dubai's Tourism Vision 2020 and aimed at enhancing economic and cultural exchange to drive investment cooperation between Dubai and China. The initiative seeks to attract Chinese visitors and investors to Dubai.{{Cite news|url=https://gulfnews.com/business/tourism/meraas-aims-to-further-development-with-chinese-tourism-in-region-1.2210307|title=Meraas aims to further development with Chinese tourism in region {{!}} Gulf News|work=Gulf News|language=en-US}}

References

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