Aldar enters strategic partnership with Dubai Holding to debut in Dubai real estate market

Aldar enters strategic partnership with Dubai Holding to debut in Dubai real estate market

- The communities will be located in the suburban heart of Dubai close to other prominent residential areas and will feature over 9,000 residential units, with the launches being planned to start in 2023

Abu Dhabi – UAE: 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 AED 130 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