Dubai Holding merges property, business parks

Dubai Holding said on Saturday it has completed the first phase of restructuring aimed at helping it cope with a downturn in the economy.

The state-owned conglomerate said in a statement it has merged its property and business parks operations into two units, but stressed it will continue as planned with existing projects, including leisure and entertainment mega-development Dubailand.

Dubai Holding said last Sunday it would pare down its business to concentrate on property, business parks, hospitality and investments.