Dubai Holding

Not to be confused with Dubai Holding Group.

Dubai Holding
دبي القابضة

Company type	State-owned
Industry	Hospitality Financial services Real estate Specialised business parks Healthcare Media
Founded	October 2004; 20 years ago (October 2004)
Headquarters	Dubai Holding Corporate Office (Dubai)
Key people	Sheikh Ahmed bin Saeed Al Maktoum (Chairman) Amit Kaushal (CEO)
Revenue	US$4.57 billion (2016)[1]
Number of employees	15,000 (including subsidiaries)
Parent	Dubai Inc.
Website	dubaiholding.com/en

Dubai Holding (Arabic: دبي القابضة) is Dubai ruler Sheikh Mohammed bin Rashid al-Maktoum's global investment holding company and personal investment portfolio,^[2] which owns 99.67% of the capital.

Mohamed al-Gergawi built the company's portfolio.^[2] Sheikh Ahmed bin Saeed al-Maktoum has been appointed chairman by the Dubai ruler.^[3] Dubai Holding has over DH 130 billion in assets in 13 countries and around 20,000 employees worldwide.^[4][5]

In 2021, leaks from the Pandora Papers about a secretive offshore system used to hide income from tax authorities and creditors revealed that Dubai Holding used three shell companies.^[6]

History

Dubai Holding was established in 2004.^[7]

• 2004: Madinat Jumeirah opened as a themed Arabian resort.^[8]
• 2005: Dubai Studio City was announced.^[9]
• 2005: du, a telecom provider company, was launched.^[10]
• 2005: Dubai International Academic City opened.^[11]
• 2006: Emirates International Communications (EIT) launched, and invested in communication organizations across the Middle East, Europe, Africa and South Asia, including Interoute Communications Ltd.^[12]
• 2007: SmartCity launches in Kochi and Malta.^[13]
• 2008: Jumeirah Beach Residence officially opened.^[14]
• 2013: The Dubai Design District (d3) was created, supposedly for the design community.^[15]
• 2013: in5 launched to provide early-stage companies with support.^[16]
• 2014: Mall of the World was announced to align with the Dubai Tourism Vision 2020.^[17]
• 2014: The Creative Community at d3 was announced.^[18]
• 2014: The Innovation Hub was announced; the hub focused on innovation from Dubai Media City and Dubai Internet City. It was inaugurated in May 2022.^[19]

Subsidiaries

Major business groups of Dubai Holding:^[20]

• Jumeirah Group
• Dubai Properties
• TECOM Group
• Arab Media Group
• Dubai International Capital
• Dubai Group
• Emirates Integrated Telecommunications Company
• Meraas
• Wild Wadi Waterpark
• The Emirates Academy of Hospitality Management
• Dubai Parks and Resorts

References

1. "Operational progress drives Dubai Holding revenues up 16%". Gulf News. 25 February 2017. Retrieved 2017-12-26.
2. Young, Karen E. (2014). The Political Economy of Energy, Finance and Security in the United Arab Emirates. London: Palgrave Macmillan UK. pp. 69–70. doi:10.1057/9781137021977. ISBN 978-1-349-43777-1.
3. "Dubai ruler appoints Emirates' chairman to oversee Dubai Holding, Meraas". www.reuters.com/. 7 November 2019. Retrieved 2019-11-07.
4. "Global Investment Holding Company | Dubai Holding". Dubai Holding Website. Retrieved 2021-08-24.
5. "Dubai Holding | Leading Developer | Dubai Properties". www.dp.ae. Retrieved 2021-08-24.
6. Miller, Greg; Cenziper, Debbie; Whoriskey, Peter. "Billions hidden beyond reach". Washington Post. Archived from the original on 16 May 2024.
7. Best of Dubai. Global Village Productions. ISBN 9781904566717.
8. "Complete Guide to Madinat Jumeirah in Dubai". uaecontact.com. 23 June 2015.
9. "Studio City's Boutique Studios". gulfnews.com.
10. The Report: Dubai 2008 Studios. Oxford Business. 2008. ISBN 9781902339054.
11. "Dubai Academic City". education.theemiratesnetwork.com. Archived from the original on 2018-07-12. Retrieved 2017-11-05.
12. "Dubai Holding Profile". bloomberg.com.
13. "Dubai Back Smart City Opens, Eyes 90,000 Tech Jobs by 2020". Arabian Business. bloomberg.com. 26 February 2016.
14. "Jumeirah Beach Residence Miami Right Here". gulfnews.com. Archived from the original on 2018-08-14. Retrieved 2018-01-02.
15. "Construction Starts on 272m Phase 2 of Dubai Design District". Arabian Business. arabianbusiness.com. 12 October 2016.
16. "In5 start-up incubator launched in UAE". Edge Middle East. arabianbusiness.com. 19 September 2011.
17. "Dubai's Mall of the World Development on the Move Again". thenational.ae. 31 August 2016.
18. "Dubai Design District Phase Two and Three to be Ready by 2019 and 2021". thenational.ae. 12 October 2016.
19. "Meet the DIFC Innovation Hub: A Home for the Ecosystem". MAGNiTT. May 19, 2022. Retrieved 2023-10-19.
20. "Dubai Holding (L.L.C) (Dubai Holding) - Company Details on ZAWYA MENA Edition". www.zawya.com. Retrieved 2018-05-30.