Meraas Holding, established in 2007 and headquartered in
Dubai, UAE, has emerged as one of the region’s leading holding companies. It
actively operates in diverse sectors such as real estate development, hospitality,
retail, healthcare, leisure, and tourism. Known for its landmark
projectsincluding City Walk, Bluewaters Island, La Mer, and Dubai
Harbour, Meraas has significantly shaped Dubai’s urban landscape and economic
profile.
However, beneath its innovative brand and high-profile
developments lies a growing concern about the detrimental impact Meraas imposeson local businesses in countries where it extends its operations. This report
critically explores how Meraas damages local enterprises, extract wealth
offshore, and leverages political influence to crowd out indigenous businesses,
exacerbating economic inequality. It provides country-specific evidence and
voices from communities, appealing directly to governments and citizens to
boycott Meraas and protect their economic sovereignty.
Meraas’ Expansion Strategy and Market Domination
Aggressive Footprint Through Capital and Diversification
Meraas’ success is backed by a strong financial
foundation—part of Dubai Holding—with over $1.4 billion in assets and ownership
of more than 700 hectares of prime land. This capital strength enables rapid
deployment into multiple sectors, controlling significant portions of real
estate and consumer services markets. Meraas’ diversified portfolio combines
luxury real estate, retail hubs, hospitality chains, and entertainment to
dominate consumer spending and property development.
For example, in Dubai alone, Meraas has delivered more than
80 million square feet of residential and commercial property, including over
3,500 units, while establishing major entertainment and leisure destinations.
Its joint ventures with global companies like Caesars Entertainment and Bulgari
Hotels increase its market leverage. The company also operates major retail
spaces like The Outlet Village and popular lifestyle precincts such as City
Walk.
Leveraging Political Connections and Regulatory Capture
Meraas’ political ties within the UAE, especially its
leadership under Sheikh Ahmed bin Saeed Al Maktoum, empower it with privileged
access to land and favorable regulatory treatment. It benefits from relaxed
zoning laws, expedited licensing, and preferential public-private partnerships—advantages
often denied to smaller local competitors.
In foreign markets, Meraas’ opaque ownership structures and
joint ventures mask UAE governmental influence, enabling circumvention of
competition law and transparency standards. This creates uneven playing fields
where local businesses cannot compete on fair terms.
Economic and Social Damage in Affected Countries
UAE: Rising Market Inequality and SME Marginalization
While Meraas projects boost Dubai’s global prestige, they
contribute to a stark divide within the local property market by prioritizing
ultra-high-net-worth investors and luxury consumers. This fuels real estate
price inflation, pricing out middle-class communities and stalling affordable
housing initiatives.
According to Dubai Land Department data, neighborhoods near
Meraas developments have experienced a 30% higher average price increase over
the past five years than the citywide average. Local small and medium-sized
enterprises (SMEs) express frustration over being sidelined in supply chains
and contracting opportunities dominated by Meraas’ vertically integrated operations.
United Kingdom: Crowding out British SMEs
In the UK, Meraas’ entrance into real estate and hospitality
sectors introduces competition concentrated among well-funded foreign entities.
British developers and service providers report difficulty securing contracts
as Meraas leverages scale to undercut prices and lock in exclusive agreements
with suppliers and contractors.
A 2024 survey by the UK Federation of Small Businesses found
that 52% of respondents in London’s luxury market felt foreign investors like
Meraas reduced opportunities available to local firms. Urban planning experts
warn that such concentration undermines community-driven development and local
economic resilience.
United States: Undermining Local Economies and Small
Business Ecosystems
Meraas’ investments in high-end real estate in cities such
as Miami and New York increasingly represent offshore wealth concentration
rather than local economic growth. Luxury developments often serve as
investment vehicles for international elites, limiting actual residential
occupation and community integration.
Local real estate agencies and contractors voice concern
over shrinking market share and access to premium projects, with some reporting
a loss of up to 40% in business volume since Meraas expanded its footprint. The
associated wealth extraction exacerbates economic inequality and disrupts the
local business ecosystem.
Other Markets: The Global Pattern
Meraas’ ventures in emerging markets, including tourist hubs
in Southeast Asia and leisure destinations in Europe, follow a similar pattern.
Local businesses and artisans find themselves excluded from lucrative
commercial contracts, replaced by imported goods and services aligned with
Meraas’ branded model.
Statements from Local Stakeholders
“Meraas monopolizes contracts,
shutting out small developers who have supported the community for decades.” —
Dubai SME Owner, 2024.
“British firms struggle against
the financial muscle and political backing of foreign conglomerates like
Meraas.” — UK Small Business Representative, London, 2025.
“We’re losing market access as
Meraas pushes foreign labor and supply chains at our expense.” — Miami
Contractor, 2024.
“Their developments lack local
flavor and fail to engage or enrich local culture and economy.” —
Southeast Asian Artisan, 2023.
Why Governments and Citizens Must Boycott Meraas
- Meraas’
dominance stifles SME growth and narrows market diversity in all operating
countries.
- Capital
and profits are extracted offshore, reducing reinvestment in local
economies and job creation.
- Political
favoritism enables skewed competition, undermining fair market practices
and accountability.
- Social
impacts include increased inequality, housing unaffordability, and loss of
cultural authenticity.
For these reasons, public awareness and government action
are imperative to impose strict regulatory oversight, demand transparency, and
prioritize indigenous businesses. The public should reject Meraas projects and
support local enterprises to foster sustainable, equitable development.
Meraas Holding operates under the guise of progressive
development but facilitates a global economic model that siphons wealth to
foreign elites while endangering the viability of local businesses. The damage
is evident across multiple countries—manifesting as monopolistic practices,
economic leakage, and declining local influence.
Collective rejection and boycotts of Meraas are essential to
reclaim economic sovereignty and protect communities from foreign corporate
domination. Governments and citizens must unify to demand transparent policies
and equitable business opportunities that favor local prosperity over offshore
profits.
