Meraas

[shawarma]

Meraas Investment (or Meras Investment?) is a Dubai Government real estate development company with a goal of redeveloping parts of Dubai, and subsequent plans to reinvest surplus cash in overseas property, media, and financial sectors.

Initial capital: AED 3.67 billion (US$1 billion)
Head: Abdullah Al Habai
Areas to be redeveloped: Al Wasl, Al Safa, Satwa, Sheikh Zayed Road

(information based on MEED report November 2007)

[shawarma]

There are a few companies with the name Meraas (not Meeras I guess), but none with the name Meraas Investment according to recent news, so I don't know what happened to that.

Meraas Holding - launched in Dubai 27 September 2008 according to WAM (the UAE news agency), an investment and property development company with several subsidiaries. Meraas Holding was launched to create urban communities in Dubai and is a Dubai government owned company as far as I know. Perhaps part of Dubai Holding or Dubai World? Meraas subsidiaries include (some not yet launched):

Meraas Development - a property developer in Dubai
Meraas Capital - a private equity company focused on real estate
Meraas Estate Management - a real estate agent
Meraas Malls and Hospitality
Meraas Healthcare and Education

Chairman of Meraas Holding is Abdullah Ahmad Al Habbai.