Dubai Holding, Select Group ink development deal for Palm Jebel Ali, d3
Dubai Holding has entered into a strategic agreement with Select Group and its joint venture partner Emirates Strategic Investments Company (ESIC) to develop large-scale projects at Palm Jebel Ali and Dubai Design District (d3), marking a milestone in the emirate's ongoing urban expansion.
The deal represents Dubai Holding's first strategic land sale at Palm Jebel Ali to a third-party developer. The agreement reflects a shared ambition to transform two of Dubai's key locations into prominent residential and mixed-use destinations, enhancing the city's global positioning as a lifestyle and investment hub.
Image: Supplied
Dubai Holding-Select Group partnership key to leadership's vision
'Palm Jebel Ali is an iconic development poised to elevate Dubai's global reputation as a premier waterfront destination,' said Khalid Al Malik, CEO of Dubai Holding Real Estate. 'By joining forces with Select Group, we are delivering on the leadership's vision of creating a world-class coastal destination.'
Select Group chairman Rahail Aslam said the projects reflect the company's long-term strategy. 'This acquisition represents an important step in our ongoing strategy to deliver exceptional developments in key growth corridors,' he said. 'We are incredibly excited about what we will be bringing to market in both Palm Jebel Ali and d3.'
The agreement aligns with
Palm Jebel Ali comprises seven islands, 16 fronds, and more than 90 kilometres of waterfront, and is seen as a key growth corridor in the Jebel Ali area. Meanwhile, d3 has emerged as a global creative hub and is part of Dubai's designation as a UNESCO Creative City of Design.
Design and planning for both projects are currently underway, with additional details on project scope and timelines to follow.
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