The new company, led by Sami Al Hashmi as CEO, will also be responsible for the infrastructure development of Tatweer's landmark projects and entities worth scores of billions of dirhams. These include Bawadi, the biggest hospitality concentration in the world with over 29,000 rooms; Dubai Industrial City, created to catalyse the growth and expansion of the industrial sector in UAE; and Dubailand, the region's leading leisure and entertainment project.

The Dh100 billion Bawadi is conceived to develop capacity for Dubai's booming tourism industry that is set to reach more than 15 million visitors over the coming years. It features 31 hotels, including the world's largest —— AsiaAsia Hotel with 6,500 rooms —while Dubailand's total investment is expected to exceed Dh65 billion with the launch of several new projects over the next 12 months.

Tatweer is a Dubai Holding company formed in December 2005 to drive the development of a group of companies which have a common purpose to deliver long-term growth for all aspects of life in Dubai.

Saeed Al Muntafiq, CEO of Tatweer, said Mizin was set up in response to a growing need for a specialised company in the field of real estate development and infrastructure management with national and international quality standards. "Thanks to our key partnership with Dubai Municipality, all our projects have the seal of approval and guarantee from the Municipality. Today, Mizin is the only provider that offers this kind of guarantee in the market."

Apart from Mizin, Tatweer currently owns eight market-leading companies operating in three strategic sectors: energy & healthcare, tourism & entertainment, industry & knowledge. Other mega  projects undertaken by Tatweer include Dubai Healthcare City, the world-class quality healthcare hub; Dubai Energy, the global energy investing arm; Dubai Mercantile Exchange, the first commodity energy futures exchange in the region; Global Village, bringing together 160 different countries; Moutamarat, first Arab initiative organising research-based conferences and exhibitions.

“I am certain that Sami Al Hashmi, with his outstanding international and regional track record, will be instrumental in taking this pioneering concept to new levels not only in Dubai, but all across the region,” said Al Muntafiq.

Al Hashimi, who joined Tatweer from Quest International Design & Development, where he was  vice chairman, said Mizin would create a new management style into the region. "We will launch projects only when the planning is finalised and its primary infrastructure is close to completion."