Aldar and Dubai Holding have made a significant advancement in their collaborative efforts by expanding their joint venture. This expansion includes the addition of two strategically positioned land plots in Dubai that are poised to deliver nearly 14,000 new residences. The cumulative gross development value (GDV) of this initiative is anticipated to exceed AED 38 billion. This joint venture, inaugurated in 2023, symbolizes a crucial step for Aldar as it broadens its presence in Dubai, building on the success of its earlier community launches that include Haven, Athlon, and The Wilds. Additionally, this partnership enhances Dubai Holding’s objective of maximizing value from its land assets while establishing world-class communities in the emirate.

New Community Developments in Dubai

The first land plot is situated along Dubai’s eastern growth corridor, directly across from Nad Al Sheba. Designed to be a vibrant, family-friendly community, this area will showcase a mix of apartments, townhouses, and villas. Encompassing roughly 4 million square meters of land, the project is slated for launch in 2026. The second plot, located on Palm Jebel Ali, promises an ultra-luxury waterfront experience that includes both branded and unbranded residences. Spanning nearly 250,000 square meters of gross floor area (GFA), this development will offer exclusive beach access and is expected to launch in 2027. A key element of the Dubai 2040 Urban Master Plan, Palm Jebel Ali will feature over 90 kilometers of beachfront, setting a new standard for waterfront living while marking a major growth area in Jebel Ali.

Management and Development Responsibilities

In line with the initial agreement, Aldar will oversee the entire development cycle of both projects, managing aspects such as concept design, sales, delivery, and ongoing property management. Talal Al Dhiyebi, Aldar’s Group Chief Executive Officer, emphasized that this extended partnership signifies the next phase of Aldar’s strategic growth in Dubai. He stated that this collaboration aims to ensure a sustainable pipeline of developments that meet the evolving demands of both residents and investors in one of the world’s most dynamic real estate landscapes.

Amit Kaushal, Group Chief Executive Officer at Dubai Holding, added that enhancing the partnership with Aldar demonstrates a long-term commitment to the Dubai 2040 Urban Master Plan and the D33 Agenda. By transforming their strategic land holdings into high-quality communities, they are addressing the changing needs of residents and businesses. The partnership’s momentum reflects strong confidence in Dubai’s real estate market, affirming its role as a global hub for investment and living opportunities.

Commitment to Sustainable Growth

The announcement boosts Aldar’s development pipeline in Dubai to over 2.3 million square meters of new GFA. This adds to the achievements of the initial phase of their joint venture, which experienced remarkable demand and confidence from investors, marking rapid sell-outs and attracting many first-time buyers. The ongoing collaboration between Aldar and Dubai Holding underscores a shared commitment to support the Dubai 2040 Urban Master Plan. This initiative aims to diversify the emirate’s real estate landscape, thereby driving sustainable growth through a balanced mix of lifestyle-oriented and investment-driven developments that prioritize wellness and integrated community living.

Additionally, this expansion is aligned with Aldar’s broader strategy to diversify its revenue streams, enhance its scale, and solidify its market position throughout the UAE. Since the partnership began in late 2023, the joint venture has generated impressive sales figures, amounting to AED 21.5 billion, signifying a robust demand for real estate. Dubai not only remains a significant market for Aldar but also serves as a cornerstone for the company’s future growth and diversification plans.