Dubai Holding closer to consolidation

Dubai Holding has move closer to consolidating its sprawling network of companies after completing the merger of its property and business park assets into two new units.

Dubai Holding, one of three main conglomerates controlled by the emirate, will manage its property businesses in a new vertical unit, incorporating Dubai Properties, Sama Dubai and the property units of Tatweer, another diversified Dubai Holding company. Eventually, the three businesses will be merged into a single corporate entity, with a management team soon to be announced.

Tecom, the Dubai Holding company responsible for business parks like Internet City and Media City, will now also take control of two previously-independent developments, Healthcare City and Industrial City.