However, much like the launch of the third Palm project in Dubai’s Deira district last week, the announcement has caught various entities within Dubai Holding by surprise. ‘Dubai Holding is still in its infancy,’ says a source from one of the main projects. ‘The details on how this will affect us have still not been circulated and at this stage it would be unwise to speculate.’ One question that will need to be answered is the role of Ahmed bin Bayat, director-general of Tecom. With Tecom now falling under Dubai Holding, his role in the future company will need to be defined.

In essence, Dubai Holding has created a clearer management structure under two main players. While the company now falls under Al-Gergawi’s beat, the three Palm islands, the World, Dubai Maritime City, the Jebel Ali Free Zone and the Dubai Metals & Commodities Centre (DMCC) remain under the auspices of Nakheel’schief Sultan Ahmed bin Sulayem.

The biggest projects not covered by these is the airport expansion under Sheikh Ahmed bin Saeed al-Maktoum, president of Dubai’s Department of Civil Aviation, and Emaar Properties’developments, which remain under Mohammed Alabbar, director of Dubai’s Economic Department. The Dubai International Financial Centre (DIFC) remains under the chairmanship of Sheikh Mohammed.