Aldar and Dubai Holding have expanded their joint venture after securing two prime land plots in Dubai, paving the way for the development of nearly 14,000 residential units.
The projects carry a combined gross development value of more than USD10.35bn, significantly strengthening the partnership’s residential pipeline in the emirate.
Established in 2023, the joint venture is focused on high-growth locations across Dubai, aligning new developments with rising demand in key urban corridors. Project launches for the newly acquired sites are expected to take place between 2026 and 2027.
One of the plots will be developed as a family-centric residential community, offering a mix of apartments, townhouses and villas. The second site is planned as a premium waterfront destination, targeting the luxury residential segment.
Palm Jebel Ali remains central to Dubai’s long-term urban development strategy, with the area positioned as a major future waterfront hub supporting population growth and lifestyle-led real estate demand.
Under the terms of the agreement, Aldar will be responsible for the full development lifecycle across both projects, covering design, construction, sales and long-term asset management.
Talal Al Dhiyebi, Group Chief Executive Officer of Aldar, said the expanded partnership supports the company’s long-term growth ambitions in Dubai while further enhancing its development pipeline within the emirate.
The latest transaction increases Aldar’s total development pipeline in Dubai to more than 2.3 million square metres of gross floor area, reinforcing its growing presence in the market.
Since the partnership was launched in late 2023, the joint venture has recorded cumulative property sales of AED21.5bn, reflecting strong market demand for its residential offerings.
Dubai continues to serve as a key growth market for Aldar as the group accelerates its expansion beyond its core Abu Dhabi operations.
