Marking a milestone in the Emirate’s ongoing urban expansion, Dubai Holding on Tuesday said that it has entered into a strategic agreement with Select Group and its joint venture (JV) partner Emirates Strategic Investments Company (ESIC) to develop large-scale projects at Palm Jebel Ali and Dubai Design District (d3).
The deal represents Dubai Holding’s first strategic land sale at Palm Jebel Ali to a third-party developer. The agreement reflects a shared ambition to transform two of Dubai’s key locations into prominent residential and mixed-use destinations, enhancing the city’s global positioning as a lifestyle and investment hub.
Select Group will lead the development of upscale residential and hospitality offerings at Palm Jebel Ali, aimed at setting new standards in luxury waterfront living. At Dubai Design District, the company plans to deliver a dynamic mixed-use community that integrates culture, innovation and contemporary urban design.
Dubai Holding Real Estate CEO Khalid Al Malik said that Palm Jebel Ali is an iconic development poised to elevate Dubai’s global reputation as a premier waterfront destination. By joining forces with Select Group, they were delivering on the leadership’s vision of creating a world-class coastal destination, he said.
Select Group chairman Rahail Aslam said that the projects reflect the company’s long-term strategy and this acquisition represented an important step in their ongoing strategy to deliver exceptional developments in key growth corridors.
““We are incredibly excited about what we will be bringing to market in both Palm Jebel Ali and d3,” Aslam added.
Aligning With Dubai Holding’s Objectives
The agreement aligns with Dubai Holding’s broader objective of unlocking long-term value across its master-planned developments and with the Emirate’s Dubai 2040 Urban Master Plan and Economic Agenda D33.
Palm Jebel Ali comprises seven islands, 16 fronds, and more than 90 km of waterfront, and is seen as a key growth corridor in the Jebel Ali area. Meanwhile, d3 has emerged as a global creative hub and is part of Dubai’s designation as a UNESCO Creative City of Design.
Design and planning for both projects are currently underway, with additional details on project scope and timelines will be revealed later, the company said.
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