Meraas: the developer behind Bluewaters Island and Coca-Cola Arena

When we talk about modern Dubai, the first things that come to mind are Burj Khalifa, Palm Jumeirah, skyscrapers, and fancy restaurants. But here’s the fun part - some of the coolest places to live and hang out were shaped by one name you don’t always hear: Meraas, the developer behind Bluewaters Island and the Coca-Cola Arena.

Chances are, you’ve at least once seen or heard of that giant Ferris wheel by the sea - a massive, picture-perfect landmark. That’s Ain Dubai, and yes, it’s the signature creation of developer Meraas. So why does the whole world know their projects, even if they’ve never heard the company name? Let’s find out.

Why the world knows Meraas

• One of the hottest residential spots right now is Bluewaters Island. Technically, it’s a man-made island off Dubai’s coast, home to Ain Dubai - the tallest observation wheel in the world, opened in 2021. It’s 250 meters high, has 48 capsules, and can carry up to 1750 people in one single rotation! Add to that hotels, apartments, restaurants, and shopping - no wonder millions visit every year.
• If you’ve ever been to a concert in Dubai, chances are you’ve been inside Coca-Cola Arena. This indoor arena holds 17000 people and has hosted the likes of Maroon 5, Imagine Dragons, and 50 Cent. It’s often called the Middle East’s main stage, but beyond concerts, it’s packed with exhibitions, business forums, and cultural events all year round.
• Then there’s City Walk - a European-style neighborhood filled with restaurants, boutiques, and lifestyle spaces right in the heart of the city.
• Or La Mer, a beachfront community with cafes, shops, and family-friendly attractions, which quickly became a favorite hangout for both tourists and locals.

Meraas in facts and figures

• 17 years on the market. Founded in 2007, the company quickly rose into Dubai’s top tier of developers.
• Dozens of projects. From residential blocks and retail hubs to cultural landmarks and entire districts.
• 100+ events a year. Coca-Cola Arena isn’t just a venue - it’s shaping the entertainment industry across the region.
• Multi-billion investments. Bluewaters Island alone cost more than $2.2 billion to build.
• Part of Dubai Holding. Since 2020, Meraas has been integrated into the state-backed Dubai Holding, giving it access to huge resources and global partnerships.
  
  

  Numbers that matter for Investors

Price per square meter. In City Walk or La Mer, property starts from $5000 per square meter. On Bluewaters Island, it’s nearly double - from  $7500 to even $8000. It’s expensive, but prestige and potential drive demand. Over the past five years, Meraas homes have gained +35-40%, and on Bluewaters - over +50%.

Rental income. With those price tags, rents are high as well. Apartments typically lease for $3000-$5,000 per month for 1-2 bedrooms. Premium penthouses or villas can easily fetch $10000-30000 per month, especially with sea or skyline views.

ROI. Average rental yields sit at 5-7% annually. For luxury property, that’s very strong - in Europe, similar apartments often return near 3%.

Bulgari resort Dubai - when a developer meets luxury fashion

There’s a global trend right now: fashion houses moving beyond the runway to launch restaurants, resorts, and branded residences. Think Armani, Versace, and, of course, Bulgari.

In Dubai, Meraas brought that trend to life with Bulgari Resort Dubai on Jumeirah Bay Island. Designed by Antonio Citterio Patricia Viel, the project features a private marina for 50 yachts, a Yacht Club, and Michelin-starred dining.

Apartments and villas here carry an Italian design DNA and come with private beaches. Prices are among the city’s highest: starting from $10000 per square meter. No surprise the resort constantly shows up in international media as a favorite of Hollywood stars, top influencers, and even royalty.

This single project turned Jumeirah Bay into Millionaire’s Island, with villa sales often exceeding $40-50 million, and prices climbing 80%+ in just three years.

Takeaways: Why People Choose Meraas

• Bluewaters Island - a man-made island with Ain Dubai, luxury homes, hotels, and dining.
• Coca-Cola Arena - the region’s biggest stage for global stars and major events.
• City Walk and La Mer - lifestyle neighborhoods that mix shopping, food, and leisure.
• Bulgari Resort Dubai - a branded luxury project that put Jumeirah Bay on the global map.
• ROI of 5-7% annually, high rental demand, and price growth of 35-50% in recent years.
• Part of Dubai Holding, which gives Meraas both credibility and long-term backing.

Meraas isn’t just a developer. It’s the creative force making Dubai not only livable but one of the most attractive property markets in the world.