New entity to manage Meraas, Dubai Holding

To be led by Al Nuaimi, it entails working on projects that include Boxpark and City Walk

Anew business entity is expected to be launched in Dubai, managing multibillion dollar development projects across Dubai Holding and Meraas Holding. The entity will be led by Raed Al Nuaimi, who will serve as its chief executive officer.

Al Nuaimi currently serves as chief executive officer of DXB Entertainments (DXBE), the Dubai-listed owner and operator of theme parks. A statement from DXBE yesterday said Al Nuaimi will remain the company’s CEO until a new chief executive is appointed.

“He will thereafter continue as a senior executive with the company, in the role of managing director and executive member of the board of directors,” the statement said.

It added that the appointment of a new CEO “will be announced by the company in due course.”

No other details were provided on the new entity or when it would launch. Managing development projects across Dubai Holding and Meraas, however, would entail working on projects that possibly include Boxpark, City Walk, Last Exit, La Mer, and Pearl Jumeira, among others, all of which are under the Meraas umbrella. Projects under Dubai Holding include Jumeirah Group, Tecom Group, Emirates International Telecommunications, and Group, among others.

Before his role as CEO of DXBE, Al Nuaimi was chief leisure and entertainment officer at Meraas Holding, where he helped develop new strategies and identify opportunities for the company in key growth areas of leisure and entertainment. According to his bio on the DXBE website, he earlier also held senior management roles with Tatweer, Dubailand, and Dubai Properties Group.

Al Nuaimi is a former member of the UAE Naval Forces, and holds a bachelor’s degree in Business Administration from Ashford University, UK.

His appointment as head of the new entity was made by Abdullah Al Habbai, who is the chairman of Meraas Holding and DXB Entertainments. In March 2017, Al Habbai was also appointed by Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, as chairman of Dubai Holding, the investment conglomerate. Dubai