Palm Jebel Ali, Nad Al Sheba in Dubai to get 14,000 new homes under Dh38 billion deal

Dubai: Abu Dhabi-based Aldar Properties and Dubai Holding have expanded their joint venture, announcing plans to develop nearly 14,000 new homes in Dubai valued at more than Dh38 billion.

The projects will be built on two land plots and mark the next phase of a partnership launched in 2023, which saw rapid sell-outs at Aldar’s first Dubai residential communities.

One project will be a family-focused community located on Dubai’s eastern growth corridor, opposite Nad Al Sheba. The development will include apartments, townhouses and villas and is expected to launch in 2026.

The second project will be a luxury waterfront development on Palm Jebel Ali. It will include branded and non-branded homes with direct beach access, with sales expected to begin in 2027.

Palm Jebel Ali is a major part of Dubai’s long-term urban plans and is being developed as a new waterfront destination in the Jebel Ali area.

Under the agreement, Aldar will manage the full development process for both projects, including design, construction, sales and long-term management.

Talal Al Dhiyebi, group chief executive of Aldar, said the expanded partnership would support the company’s long-term growth in Dubai and add to its development pipeline in the emirate.

The latest agreement brings Aldar’s total development pipeline in Dubai to more than 2.3 million square metres of gross floor area. Amit Kaushal, group chief executive of Dubai Holding, said the deal reflected strong demand in Dubai’s property market and aligned with the city’s long-term development plans.

Since the partnership began in late 2023, the joint venture has recorded property sales of Dh21.5 billion, according to the companies.

Dubai remains a key growth market for Aldar as it seeks to expand beyond its core base in Abu Dhabi.