Aldar and Dubai Holding have expanded their landmark joint venture by acquiring two strategic land plots in Dubai, which will deliver nearly 14,000 new homes with a combined gross development value (GDV) exceeding $936 billion (AED38 billion).
The expanded partnership, which was inaugurated in 2023, marks a key milestone in Aldar’s ongoing growth in Dubai, building on the successful launches of its first communities in the emirate, including Haven, Athlon, and The Wilds.
The first plot, located along Dubai’s eastern growth corridor opposite Nad Al Sheba, will be an active, family-oriented community featuring apartments, townhouses, and villas. With approximately 4 million sqm of land, the project is targeted for launch in 2026.
The second plot, situated on Palm Jebel Ali, will serve as an ultra-luxury waterfront development, featuring both branded and non-branded residences. Covering almost 250,000 sqm of gross floor area (GFA), the project will offer a premier lifestyle experience with direct beach access, and homes will launch for sale in 2027.
Forming a key component of the Dubai 2040 Urban Master Plan, Palm Jebel Ali, boasting over 90 km of beachfront, will set a new global benchmark in waterfront living and anchor a major new growth corridor in the Jebel Ali area.
Similar to the previous agreement, Aldar will be responsible for the full development cycle of both projects, including concept design, sales, delivery, and management of the developments.
Talal Al Dhiyebi Group CEO – Aldar
“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 while offering a wider choice of lifestyle communities that reflect the evolving aspirations of residents and investors alike.”
Amit Kaushal, Group Chief Executive Officer at Dubai Holding, said that, “This expanded partnership with Aldar reflects our long-term commitment to supporting the Dubai 2040 Urban Master Plan and the D33 Agenda through the development of well-planned, future-ready communities across the emirate.”
“As a strategic land owner, we are unlocking the value of our land bank by working with leading partners to deliver high-quality destinations that meet the evolving needs of residents, businesses, and investors. The scale and momentum of this collaboration also underscore the strong demand and confidence in the real estate market in Dubai, and our shared belief in its continued growth as a global hub for living, investment, and opportunity,” Kaushal added.
