Dubai Holding has entered a strategic agreement with Select Group and its joint venture partner, Emirates Strategic Investments Company LLC (ESIC), to develop landmark projects on Palm Jebel Ali and within Dubai Design District (d3). This marks Dubai Holding’s initial strategic land sale to a third-party developer on Palm Jebel Ali, signaling its intent to unlock value across its master developments.
The collaboration aims to create dynamic communities that bolster Dubai’s status as a premier global destination. Select Group will lead the development and delivery of two large-scale projects:
- Palm Jebel Ali: The group plans upscale residential and hospitality offerings within the development, intending to establish new benchmarks for luxury waterfront living.
- Dubai Design District (d3): The d3 project is slated as a mixed-use community that integrates culture, innovation, and contemporary urban living in one of Dubai’s creative hubs.
Khalid Al Malik, CEO of Dubai Holding Real Estate, commented on the partnership, stating, “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, we are delivering on the leadership’s vision of creating a world-class coastal destination that sets new standards in luxury residential and hospitality experiences.” He added that the partnership “reaffirms our commitment to consolidating the emirate’s position as a globally renowned lifestyle and investment destination.”
Rahail Aslam, Chairman of Select Group, noted that “Dubai continues to cement its position as a global destination for investment, innovation, and quality living.” He emphasized that the acquisition “represents an important step in our ongoing strategy to deliver exceptional developments in key growth corridors.” Aslam expressed excitement about the offerings for both Palm Jebel Ali and d3, citing their alignment with the group’s focus on waterfront locations, quality, sophistication, and long-term value creation.
–Input WAM
