Meraas

Meraas Holdings
Company typePrivate company
Founded2007; 17 years ago (2007)
HeadquartersDubai, United Arab Emirates
Key people
Sheikh Ahmed bin Saeed Al Maktoum, (Group Chairman)
ProductsReal estate, tourism, retail, F&B, leisure and entertainment, hospitality, healthcare
ParentDubai Holding
Websitewww.meraas.com/en

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.[1][2]

History

Since its founding in 2007,[3] 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.[4]

The Meraas real estate portfolio comprises property development sales and asset management across Dubai. Projects include Port de La Mer,[5] City Walk,[6] , Bluewaters island, Bulgari Resort,[7] Nikki Beach Resort, Spa & Residences and Villa Amalfi in Jumeirah bay.[citation needed]

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.[8] It was also due to be home to the 135-metre Dubai Lighthouse.[9]

In 2021, Meraas unveiled Ain Dubai.[10][failed verification] 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".[11][speculation?][needs update]

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.[12] In 2019, Meraas launched its first townhouse community in Dubai, Cherrywoods.[13]

The firm's "Leisure & Entertainment" division operates entertainment destinations and venues, including the Dubai Safari.[14] Other projects include The Green Planet in City Walk,[15] a destination that recreates a tropical forest, Hub Zero in City Walk, an indoor entertainment centre comprising rides and virtual reality experiences,[16] Hawa Hawa in La Mer, an inflatable playground,[17] and Ain Dubai in Bluewaters, the world's tallest observation wheel.[18]

The hospitality division handles hotel operations for the group and has partnered with hotel operators such as Bvlgari Hotels and Resorts,[19] 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]

Meraas also has a retail division, food and beverage division, and a healthcare division.[citation needed] The latter include the Valiant Clinic in City Walk.[20]

Real estate

Meraas' real estate division comprises property development, sales and asset management across UAE.[citation needed]

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.[21][22] The first phase of Bluewaters Residence was handed over to residents from February 2019.[23] Other developments include Bvlgari Residences, a series of Bvlgari branded residences which were first handed over to residents from February 2018.[24]

Central Park at City Walk is an urban residential development,[25] while Nikki Beach Residences are a set of branded homes adjacent to Nikki Beach Resort & Spa Dubai in Pearl Jumeirah.[citation needed] The development includes one to four-bedroom apartments, penthouses and apartment townhouses.[26]

The company also owns a number of real estate plots in Dubai, including Jebel Ali Hills,[27] Jebel Ali Industrial Development, Jumeirah Bay and Al Warsan Industrial Plot.[citation needed]

Destinations

Al Seef

Al Seef is a 1.8-kilometre waterfront promenade. It has a marina with 56 berths for private yachts.[28]

Bluewaters

Bluewaters features residential, retail and hospitality zones bordered by walkways and a private beach.[citation needed] The destination is home to Ain Dubai, the world's tallest and largest observation wheel that stands at a height of 250+ metres.[29]

Boxpark

In 2015, Meraas launched Boxpark,[30] a destination spanning across 1.2-kilometres located on Al Wasl road.[citation needed]

City Walk

Main article: City Walk, Dubai

In December 2013, Meraas launched City Walk,[31] an open-air lifestyle destination.[citation needed]

Dubai Harbour

In January 2017, His Highness Shaikh Mohammed bin Rashid Al Maktoum unveiled Dubai Harbour,[32] with berths for yachts and views of some of Dubai's landmarks.[promotion?]

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] The destination hosts community art fairs and markets, sports tournaments and races.[33]

La Mer

La Mer, launched in October 2017,[34] is a beachfront destination located on jumeirah 2.5-kilometres of beach.[citation needed]

Last Exit

Last Exit is a themed food truck concept offering "gourmet" street food.[35]

Pearl Jumeira

Pearl Jumeira is home to Nikki Beach Resort and Spa Dubai that opened its doors on December 20[when?] and features 132 keys including 117 rooms and suites, 15 villas and 63 private residences.[36]

The Outlet Village

Launched in September 2016, The Outlet Village is an indoor retail destination.[37]

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.[38]

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.[39]

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. [40]

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.[41][failed verification]

Rove Hotels is a contemporary hospitality brand.[42]

Dubai Hills Estate, a joint venture by Meraas and Emaar Properties, is one of the largest master-planned communities in Dubai.[43]

Dubai Water Canal was developed by Meraas, Meydan and the Roads and Transport Authority (Dubai).[44]

Initiatives

In 2018, Meraas launched Visit Hatta,[45] an initiative which comprises an adventure and activity centre, and a number of resort properties.[citation needed]

The company is also responsible for implementing Hala China, a joint initiative by Meraas and Dubai Holding[46] 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.[47]

References

  1. ^ "Meraas to become part of Dubai Holding". Arabian Business.
  2. ^ "Property developer Meraas to become part of Dubai Holding". The National. 9 June 2020. Retrieved 2020-07-13.
  3. ^ "Meraas Holding (LLC)| Zawya". Zawya.
  4. ^ "Sheikh Ahmed in control at Dubai Holding, Meraas | Gulf News". Gulf News.
  5. ^ "Meraas launches Port de La Mer residential community | Middle East Construction News". MEConstructionNews.com.
  6. ^ "Dubai's own Central Park: new development planned for City Walk". The National.
  7. ^ "Dubai's Meraas Launches Bulgari Residences". Gulf Business.
  8. ^ "Dubai seeks to become global marinas hub under new deal | Arabian Business". arabianbusiness.com.
  9. ^ "Dubai Harbour: Sheikh Mohammed unveils major new project with Middle East's biggest marina | The National". thenational.ae.
  10. ^ "World's tallest Ferris wheel 'Ain Dubai' to open in 2020 | Gulf News". gulfnews.com.
  11. ^ "Largest Ferris wheel in the world rises off Jumeirah | Khaleej Times". khaleejtimes.com.
  12. ^ "Mohammed bin Rashid announces development of 'Dubai Harbour' | SheikhMohammed.ae". sheikhmohammed.ae.
  13. ^ "Dubai's developers have sales sell-outs and a skyscraper launch in busy week". gulfnews.com. Retrieved 2019-02-26.
  14. ^ "Meraas signs agreement with Dubai Municipality to manage Dubai Safari". Emirates24/7.
  15. ^ "Dubai scoops out its first tropical forest". Gulf News.
  16. ^ "Meraas launches Hub Zero at City Walk". Gulf News.
  17. ^ "Inflatable playground Hawa Hawa comes to Dubai". The National.
  18. ^ "World's tallest observation wheel, Ain Dubai, will open in 2020 | What's On". whatson.ae.
  19. ^ "Super premium Bulgari hotel opens in Dubai | Gulf News". gulfnews.com.
  20. ^ "Dubai's Meraas launches clinic at City Walk as part of new healthcare unit". Gulf Business.
  21. ^ "Dubai Properties and Meraas are building the fabric of community living in the city". constructionweekonline.com. 2022-11-02. Retrieved 2023-05-29.
  22. ^ "Bluewaters Residences by Meraas welcomes its first residents". timesofoman.com. 2019-02-16. Retrieved 2023-05-29.
  23. ^ "Dubai's Bluewaters project begins handover to its first residents". Gulf Business.
  24. ^ "First handovers announced at Bulgari Residences Dubai | Arabian Business". arabianbusiness.com.
  25. ^ "Dubai's property developer Meraas unveils plans to build new green community: 'Central Park at City Walk'". Gulf News.
  26. ^ "Meraas starts handover of Nikki Beach Residences | Gulf News". gulfnews.com.
  27. ^ "Investors get their fill buying plots in Dubai | Gulf News". gulfnews.com.
  28. ^ "New SME district launched in Dubai's Al Seef". Gulf Business.
  29. ^ "World's tallest observation wheel, Ain Dubai, to be completed next year". Gulf Business.
  30. ^ "Meraas launches BoxPark in Dubai | Gulf News". gulfnews.com.
  31. ^ "Citywalk launched in Dubai". Emirates247.
  32. ^ "Shaikh Mohammad Bin Rashid unveils new megaproject: Dubai Harbour | Gulf News". gulfnews.com.
  33. ^ "1st Gov Games begins on Wednesday | Gulf News". gulfnews.com.
  34. ^ "New beach and entertainment space La Mer opens to Dubai public | The National". thenational.ae.
  35. ^ "Meraas to expand Last Exit food truck centres in Dubai | The National". thenational.ae.
  36. ^ "New luxury Nikki Beach resort set to open in Dubai's Pearl Jumeira". Gulf Business.
  37. ^ "The Outlet Village launched in Dubai | Gulf News". gulfnews.com.
  38. ^ "10 facts about the upcoming Dubai Harbour". gulfnews.com.
  39. ^ "Dubai Cruise Terminal to be main hub for cruise tourism | Saudi Gazette". saudigazette.com.
  40. ^ "All bets are off as Caesars Palace resort set to open in Dubai | The National =". thenational.ae.
  41. ^ "Dubai Parks operator shakes up senior management as it unveils new strategy". Gulf Business.
  42. ^ "Rove Hotels, Dubai's Smart New Hotel Brand for the Modern Traveller, to Roll Out in 10 Central Locations by 2020 | Hospitality Net =". hospitalitynet.org.
  43. ^ "Emaar launches residences starting at Dhs664,888 in Dubai Hills Estate". Gulf Business.
  44. ^ "Dubai Water Canal: All that you need to know | Khaleej Times". khaleejtimes.com.
  45. ^ "Dubai's Meraas unveils Hatta eco-tourism projects | The National". The National.
  46. ^ "Hala China initiative launched with Chinese musical | Gulf News". Gulf News.
  47. ^ "Meraas aims to further development with Chinese tourism in region | Gulf News". Gulf News.

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