Meraas is one of the leading private holding companies based in Dubai that focuses on real estate development and various projects. Established in 2007, it became part of Dubai Holding in 2020 as per the directive of Sheikh Mohammed bin Rashid Al Maktoum, the Dubai ruler. The objective was to combine services, diversify Dubai's economy, and enhance its global market influence.
Under the leadership of Sheikh Ahmed bin Saeed Al Maktoum, Meraas has become well-known for its real estate expertise in Dubai. The company is involved in the development of projects in real estate, hospitality, leisure, and food, among other sectors. Meraas is recognized for its innovative projects that blend Arabic and European styles.
Meraas boasts an impressive portfolio, with projects in exclusive areas like Jumeirah Bay, Bluewaters Island, and Dubailand. Some of its successful ventures include City Walk, The Beach, La Mer, and the Outlet Village. Meraas utilizes innovative technologies to enhance the lives of Dubai residents.
Since its inception, Meraas Properties has developed over 80 million square feet of residential and commercial real estate in Dubai, encompassing retail and 3,500 residential units. As a leading developer in the UAE, Meraas creates luxury residences and hotels in highly desirable locations within the emirate.
Notable projects by Meraas include the multibillion-dollar Bluewaters Island, featuring the world's largest Ferris wheel, Ain Dubai, and the Madame Tussauds Museum. Other popular developments include Port De La Mer, Bvlgari Resort & Residences Dubai, Cherrywoods Townhouses, and Nikki Beach Residences. City Walk, which opened in 2013, has become a favored destination for shopping, dining, and entertainment.
Meraas properties offer various advantages and unique features, such as attractive payment plans and waived DLD fees for buyers and investors. The developer provides a wide range of exclusive properties, including luxury apartments and penthouses in sought-after developments like Port De La Mer and Bluewaters Residence.
Investing in Meraas projects is economically advantageous for several reasons. Firstly, the company has established a strong global reputation and stability. Secondly, Meraas has formed partnerships with various organizations to enhance the quality of life in Dubai.
Meraas has a strategic partnership with Carnival Corporation to develop a Dubai Cruise Terminal, aiming to establish the city as a prominent maritime tourism hub. Another key partner is Caesars Entertainment Corporation, known for Caesars Palace in Las Vegas. Together, they are collaborating on Bluewaters projects, including hotels, a beach club, and a conference center. The Dubai Water Canal is a joint effort of Meraas, Meydan, and the Dubai Roads and Transport Authority. Dubai Hills Estate is also a joint venture between Meraas and Emaar Properties, along with Rove Hotels.
Dubai's strong economy and stable housing prices make investing in Meraas' projects a lucrative option. Investors can expect a high return on investment, ranging from 6% to 9% ROI per annum. Purchasing off-plan properties from developers like Meraas offers convenient payment plans and lower prices compared to finished properties. Additionally, as construction nears completion, real estate prices tend to rise, allowing for capital appreciation upon resale.