Dubai Holding awards Dh5 billion construction contracts for new HQ, Jumeirah Residences Emirates Towers

Dubai: Dubai Holding has awarded a Dh5 billion construction contract to China State Construction Engineering Corporation Middle East (CSCEC ME) to build its new headquarters and Jumeirah Residences Emirates Towers in one of Dubai’s most prominent districts.

Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Holding, witnessed the signing of the contract on Wednesday, according to Dubai Media Office.

The deal is the largest building contract awarded by Dubai Holding to date, underlining the scale of investment being directed towards projects supporting Dubai’s long-term economic and urban growth.

New headquarters

Dubai Holding’s new headquarters is scheduled to open in 2029 and will bring the Group’s businesses together under one roof.

Designed by global architecture, engineering and urban planning practice Skidmore, Owings & Merrill (SOM), the building will have a distinctive circular form centred around an open-air atrium and landscaped courtyard.

Expansive terraces will be incorporated into the design to encourage collaboration and the exchange of ideas.

Employee wellbeing, sustainability and technology will also be central to the workplace, with the building designed to improve resource efficiency and create a future-focused working environment.

The headquarters has ambitions to meet leading international sustainability and wellbeing standards while supporting a lower-carbon future.

Sheikh Ahmed said the investment reflects Dubai Holding’s wider commitment to investing in assets that support the emirate’s continued growth. “Dubai’s success has been built on a clear vision for the future, the confidence to invest with purpose and the discipline to turn ambition into progress,” he said.

“We continue to build from a position of strength, committing capital to assets that support economic growth and create value for our people, communities and future generations.”

He added that Dubai Holding has contributed to the emirate’s transformation for more than two decades, enabling economic activity equivalent to 30 per cent of Dubai’s GDP.

“This investment reflects the same long-term ambition: to keep setting new standards for what a global city can achieve, and to strengthen Dubai as a global hub for business, investment and talent,” Sheikh Ahmed said.

754 residences

The construction award will also advance Jumeirah Residences Emirates Towers, a flagship residential development by Meraas.

The project will comprise 754 branded residences across two towers, with handover scheduled for 2030.

Designed by SCDA Architects, the development will combine contemporary architecture with Jumeirah’s Arabian hospitality and service expertise.

Residents will also have access to a curated range of lifestyle, wellness and leisure experiences, with the project offering direct connectivity to prominent business, cultural and lifestyle destinations across Dubai.

Dubai investment

Amit Kaushal, Group CEO of Dubai Holding, said the contract reflects the scale at which the group is continuing to invest.

“We have a clear strategy for growth and a disciplined approach to capital deployment, focused on strengthening our portfolio, advancing high-quality assets and creating sustainable long-term value for the Group and the city,” he said.

Kaushal described the new headquarters as the “next phase” in Dubai Holding’s evolution, saying it would set a new benchmark for prime office space in Dubai.

He said Jumeirah Residences Emirates Towers carries the same ambition in residential development, adding another landmark to one of the city’s prominent districts.

Chinese contractor

CSCEC ME will deliver both projects.

Tian Sanchuan, Chairman of CSCEC ME, said the company was “honoured” to have been awarded the developments, describing the contract as a reflection of the “mutual trust and confidence” between the two organisations.

“These landmark developments reflect the resilience and strength of Dubai’s economy and reinforce our confidence in its continued growth,” Tian said.

“We remain committed to Dubai and are proud to contribute to the development of this remarkable city and its ambitious future.”

CSCEC ME has operated in the UAE since 2003 and has delivered more than 110 large-scale projects across the Gulf, covering residential, commercial, hospitality and infrastructure developments.

The company is backed by its parent, China State Construction Engineering Corporation, described in the announcement as one of the world’s largest construction and investment groups.

The signing was also attended by Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs; Ou Boqian, Consul General of the People's Republic of China in Dubai and the Northern Emirates; and senior representatives from Dubai Holding and CSCEC ME.