Aldar, Dubai Holding in strategic partnership to develop 3 new communities

Aldar, Dubai Holding in strategic partnership to develop 3 new communities

The partnership will extend the growing portfolio and diversified offering by both organisations via development of three communities across 38.2 million sqft of land

Published: Thu 2 Feb 2023, 8:42 PM

Aldar Properties, the leading Abu Dhabi real estate developer, investor, and manager, and Dubai Holding, a diversified global investment company with an extensive portfolio of Dh130 billion worth of assets, have signed a binding joint venture agreement to develop exciting new living experiences across prime locations in Dubai.

The milestone agreement, marks Aldar’s entry into Dubai’s high performing real estate market, as part of the company’s broader expansion into new markets. The move adds considerable weight to Aldar’s development pipeline, following the recent acquisitions of Al Fahid Island in Abu Dhabi and a new waterfront development in Ras Al Khaimah.

The joint venture will develop new communities in three locations across an area of 38.2 million sqft (3.55 million sqm). The new communities will be located in the suburban heart of Dubai – along the E311 and E611 corridors in close proximity to several notable residential communities – and represent some of the last remaining vacant and undeveloped plots of land in this established and popular corridor.

With support from Dubai Holding, a powerhouse