Land Securities Said to Challenge Dubai’s Meraas Over BluewaterPatrick Gower
Land Securities Group Plc, the owner of the Bluewater shopping center in Kent, is seeking to block a Dubai company from naming one of its developments Bluewaters, according to a person with knowledge of the matter.
The U.K.’s largest real estate investment trust filed a challenge to stop Meraas Holding LLC using the name for a planned project that will include a Ferris wheel to rival the London Eye, said the person who asked not to be identified because the information is private. The filing was made at the Industrial Property Office, which handles trademark disputes in the United Arab Emirates, the person said.
Meraas plans to build shops, homes and the 210-meter Ferris wheel, according to its website, and is seeking to raise a loan of about $500 million for the project. The company is also building the Middle East’s first Legoland theme park in Dubai.
Land Securities holds a trademark in the U.A.E. for the Bluewater name, the person said.
State-owned Meraas didn’t respond to phone calls and an e-mail seeking comment outside of office hours. An official at Land Securities, which holds a 30 percent stake in the Bluewater development, declined to comment.
The challenge is the second this week involving Meraas. Boxpark, the creator of the London shopping center composed of shipping containers, on Thursday demanded the Dubai company stop using its name for a “copycat” project called Boxpark Dubai.