Dubai Announces Major Housing Development

Aldar Properties and Dubai Holding are expanding their joint venture with plans to develop nearly 14,000 new homes in Dubai, valued at over Dh38 billion. This marks the next phase of their partnership initiated in 2023, following rapid sell-outs of Aldar's initial Dubai residential communities. Aldar will manage the entire development process for both projects, including design, construction, sales, and long-term management.

The projects will be located on two land plots. The first is a family-focused community along Dubai's eastern growth corridor, opposite Nad Al Sheba, featuring apartments, townhouses, and villas, with a launch expected in 2026. The second project is a luxury waterfront development on Palm Jebel Ali, offering branded and non-branded homes with direct beach access, with sales anticipated to begin in 2027.

Palm Jebel Ali is a key component of Dubai's long-term urban development strategy, designed as a new waterfront destination. The expanded partnership supports Aldar's long-term growth in Dubai and adds to its development pipeline, which now exceeds 2.3 million square meters of gross floor area. Since the partnership's inception in late 2023, the joint venture has achieved property sales of Dh21.5 billion.