Waterfront Tower in New Jersey Receives Investment

Modon Holding, an Abu Dhabi-listed group, has partnered with Related Companies and Panepinto Properties to develop Harborside 4, a 54-story luxury residential tower in Jersey City. The joint venture, with Modon holding a majority stake, aims to deliver 800 rental apartments and condominiums by early 2029, with construction commencing next quarter. The project is located on a prime waterfront parcel with direct Manhattan skyline views.

Harborside 4, designed by Handel Architects, will feature a fitness club, concierge services, and high-end amenities. Residents will have convenient access to Manhattan via PATH trains and ferries, with a Whole Foods and various dining options nearby. Approximately 75% of the units will be rentals, providing a steady income stream, while the remaining units will be sold as condos. Related Companies will oversee development, construction, leasing, and operations.

This project marks a significant step in Modon's global expansion strategy, focusing on high-potential assets. The company's international portfolio includes investments in London, Spain, and Florida, as well as hotels across five countries and event venues. The Harborside 4 venture strengthens Modon's diversification and its commitment to developing quality urban destinations in key global markets.