The merger between Nakheel and Meydan – two of Dubai’s largest developers – under the Dubai Holding umbrella will make the companies more efficient and better positioned to capitalize on the soaring demand for real estate in the emirate, property experts say.

Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, announced the move on Saturday.

The conglomerate, owned by the Dubai government, also includes Jumeirah Group, Dubai Properties, and Tecom Group in its portfolio.

“As the emirate’s real estate market continues to expand and mature, I can see that this is a smart move as it will be