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Dubai Crown Prince & UAE Defence Minister Sheikh Mohammed bin Rashid al-Maktoum announced on 10 October the creation of Dubai Holding, a separate entity charged with managing some of Dubai’s largest developments. The new company, headed by Mohammed al-Gergawi, chief executive officer of the Dubai Development & Investment Authority (DDIA), will now oversee the management of various high-profile projects including Dubailand, the Jumeirah Beach Residence and developments currently managed by the Dubai Technology, e-commerce & Free Zone Authority (Tecom). The new firm, which will have capital of $25,000 million, will also focus on researching and identifying future investment opportunities in the emirate and throughout the region, particularly in the media, health, tourism and energy sectors.