Aldar and Dubai Holding have announced the expansion of their joint venture, adding two new strategic land plots in Dubai. These developments will deliver nearly 14,000 new homes, with a combined gross development value (GDV) surpassing Dhs 38 billion.
The expanded partnership, which began in 2023, further strengthens Aldar’s presence in Dubai and aligns with Dubai Holding’s strategy to unlock value from its land bank and contribute to the city’s long-term growth.
New developments in key areas
The first plot, located along Dubai’s eastern growth corridor opposite Nad Al Sheba, will be a family-friendly community offering apartments, townhouses, and villas. Covering approximately 4 million sqm of land, this project is expected to launch in 2026. The second plot, located on Palm Jebel Ali, will feature an ultra-luxury waterfront development, with both branded and non-branded residences. Spanning nearly 250,000 sqm of gross floor area, this high-end project will provide direct beach access and a premier lifestyle. Sales are anticipated to begin in 2027.
Aligned with Dubai 2040 plan
The Palm Jebel Ali development forms a key element of the Dubai 2040 Urban Master Plan, which aims to position the city as a global hub for sustainable living. With more than 90 km of beachfront, Palm Jebel Ali is set to redefine waterfront living and become a focal point in the Jebel Ali area’s growth.
As part of the agreement, Aldar will oversee the entire development cycle for both projects, including concept design, sales, delivery, and management. This will build on the success of their first joint developments, including Haven, Athlon, and The Wilds, and further strengthen Aldar’s growing footprint in Dubai.
Talal Al Dhiyebi, Group CEO at Aldar, remarked: “Our extended partnership with Dubai Holding represents the next chapter of Aldar’s strategic expansion in Dubai, ensuring a sustainable pipeline of developments to support long-term growth. Through this partnership, we are strengthening our footprint in one of the world’s most dynamic real estate markets.”
Amit Kaushal, Group CEO at Dubai Holding, added: “This expanded partnership reflects our long-term commitment to supporting the Dubai 2040 Urban Master Plan and the D33 Agenda. By unlocking the value of our land bank, we are creating high-quality destinations that meet the needs of residents, businesses, and investors alike.”
Strong market performance
The announcement also brings Aldar’s total Dubai development pipeline to over 2.3 million sqm of new gross floor area. The success of earlier phases in the joint venture has already been evident, with strong investor demand and rapid sell-outs. To date, the joint venture has seen sales worth Dhs 21.5 billion.
This collaboration underscores both companies’ commitment to supporting Dubai’s vision for sustainable urban growth, with a focus on wellness, sustainability, and integrated community living. The projects align with Aldar’s broader strategy to diversify its portfolio and consolidate its market position in the UAE real estate sector.
