The partnership between Dubai Holding and Aldar further extends the growing portfolio and diversified offering by both organisations via development of three communities across 38.2 million square feet of land.
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 130bn worth of assets, have signed a binding joint venture agreement to develop exciting new living experiences across prime locations in Dubai.
The joint venture will develop new communities in three locations across an area of 38.2 million square feet. 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.
The developments will start to launch in 2023 through a phased approach and will feature more than 9,000 units consisting of villas, townhouses, and apartments supported by retail and community facilities with a total gross floor area of 19.3 million square feet.
