01-07-2025
Dubai Holding enters strategic agreement with select group to develop landmark projects at Palm Jebel Ali and Dubai Design District
Milestone agreement marks Dubai Holding's first-ever strategic land transaction with third-party developer Select Group at Palm Jebel Ali
Projects to transform key waterfront and urban locations into iconic residential and mixed-use destinations
Dubai, United Arab Emirates: Dubai Holding, a diversified global investment company with investments in more than 30 countries, and Select Group, a leading multi-discipline real estate development and investment group along with its long-standing JV partner Emirates Strategic Investments Company LLC (ESIC), have entered a strategic agreement to develop landmark projects at two of the most iconic locations in Dubai – Palm Jebel Ali and Dubai Design District (d3).
The milestone agreement marks Dubai Holding's first strategic land sale with a third-party developer at Palm Jebel Ali, underscoring its commitment to unlocking long-term value across its world-class master developments. This landmark transaction reinforces a shared vision to create dynamic communities that strengthen Dubai's position as a global destination of choice.
Select Group will develop and deliver two transformative large-scale developments. At Palm Jebel Ali, the Group will create upscale residential and hospitality offerings that establish new benchmarks for luxury waterfront lifestyles in this world-class destination. Meanwhile, the d3 project will serve as a vibrant mixed-use community, seamlessly blending culture, innovation and contemporary urban living in one of Dubai's most creative hubs.
Commenting on the partnership, Khalid Al Malik, Chief Executive Officer of Dubai Holding Real Estate, said: '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. This partnership reaffirms our commitment to consolidating the emirate's position as a globally renowned lifestyle and investment destination.'
Rahail Aslam, Chairman of Select Group, added: 'Dubai continues to cement its position as a global destination for investment, innovation, and quality living. This acquisition represents an important step in our ongoing strategy to deliver exceptional developments in key growth corridors. We are incredibly excited about what we will be bringing to market in both Palm Jebel Ali and d3 – two unique locations that align perfectly with our brand ethos of waterfront location, quality, sophistication and long-term value creation.'
This strategic deal forms a continuation of Select Group's deliberate expansion into high-impact, design-forward projects that meet the needs of a new generation of global residents and investors seeking immersive environments that go beyond the conventional definitions of luxury. Each development is envisioned not only as a physical destination, but as a meaningful contribution to the evolution of Dubai's urban identity.
With a distinguished track record that includes Six Senses Residences The Palm, Dubai, Peninsula in Business Bay and the newly launched Six Senses Residences Dubai Marina, Select Group continues to push boundaries in quality, innovation, and design-led development. The Group's consistent delivery of high-calibre destinations has solidified its position as one of the UAE's most trusted and visionary private developers.
Palm Jebel Ali's seven islands span 13.4 kilometres and feature 16 fronds and over 90 kilometres of beachfront, marking the beginning of a new growth corridor in the Jebel Ali area, underlining the expansion of the emirate in line with the Dubai 2040 Urban Master Plan and the Dubai Economic Agenda D33. The landmark development is designed with several mixed-use pedestrian-friendly neighbourhoods offering panoramic views of the Arabian Gulf.
d3 is a global creative ecosystem and the destination of choice for design talent from around the world. Offering stunning views of the Dubai skyline including the iconic Burj Khalifa, d3 reinforces Dubai's status as the first city in the Middle East to be designated a UNESCO Creative City of Design.
Design and planning phases for both projects are underway, with further details regarding project specifics and timelines to be announced soon.
About Dubai Holding
Dubai Holding is a diversified global investment company with investments in more than 30 countries and a combined workforce of more than 45,000 people. Established in 2004, Dubai Holding touches the lives of millions of Dubai residents and visitors through its extensive portfolio of over AED 280 billion worth of assets that support the diversification and sustainable growth of Dubai's economy across 10 key sectors: real estate, hospitality, leisure & entertainment, media, ICT, design, education, retail, manufacturing & logistics and science.
Our portfolio includes:
Dubai Holding Real Estate, one of the largest integrated master developers in Dubai, combining the long-standing expertise of Meraas, Nakheel, Meydan and Dubai Properties. Its portfolio offers innovative residential real estate solutions across property development, project management, facilities and district management;
Dubai Holding Asset Management, which offers a world-class portfolio of over 20 residential communities, 15 lifestyle destinations, 10 malls and 18 retail centres in addition to being the majority strategic shareholder in TECOM Group PJSC, which consists of 10 business destinations catering to six vital knowledge-based economic sectors;
Dubai Holding Hospitality, which owns and manages 53 hotels as well as top-notch hospitality brands, including Dubai Holding's flagship hospitality brand and global luxury hotel company Jumeirah, which manages a portfolio of 31 world-class properties. Dubai Holding Hospitality's portfolio also comprises a diverse collection of unique award-winning F&B concepts.
Dubai Holding Entertainment, the largest and most diversified media, leisure and entertainment company in the region, which comprises leading parks and attractions such as Global Village, Ain Dubai, Dubai Parks and Resorts and The View Palm Jumeirah; and media and entertainment venues such as Roxy Cinemas, Coca-Cola Arena and ARN;
Dubai Holding Investments, a dedicated investment arm responsible for the Group's investment strategy and managing a diverse portfolio of strategic and financial investments across public and private markets in the UAE and internationally to drive diversification for the Group and seek attractive risk-adjusted returns. It has investments in Emirates NBD, Warsan Waste Management Centre, Du, Azadea and Nord Anglia, as well as joint ventures and partnerships with Brookfield, Emaar, Aldar, Tabreed and others;
Dubai Holding Land Estates, which is dedicated to optimising and future-proofing the management of the Group's extensive land bank and supporting its commitment to sustainable urban development and economic diversification in alignment with the Dubai 2040 Urban Master Plan; and
Dubai Holding Community Management, an integrated, customer-centric company that focuses on creating and managing sustainable and vibrant communities. It is committed to fostering a sense of belonging and connectivity amongst its 1.2 million residents living in 58 master communities.
About Select Group
Established in 2002 and headquartered in Dubai, the United Arab Emirates, Select Group is an award-winning real estate development and investment firm with a diverse portfolio spanning real estate, hospitality, and commercial sectors.
Since inception, Select Group has delivered over 7,000 homes across more than 20 million square feet of award-winning residential, commercial, hospitality and retail developments, with a further 6,000 units in the pipeline, a combined Gross Development Value (GDV) of over AED 35.2 billion. Beyond real estate development, Select Group maintains active investments across multiple asset classes, with a focus on delivering long-term value across its portfolio.
About ESIC
Emirates Strategic Investments Company LLC (ESIC) is a private investment firm headquartered in Abu Dhabi, United Arab Emirates. With a strong focus on real estate, ESIC is actively involved in the investment, development, and management of a diversified portfolio of residential, commercial, and mixed-use projects across the UAE and internationally. The firm plays a strategic role in shaping key real estate developments that contribute to the UAE's long-term economic growth and urban landscape. In addition to real estate, ESIC maintains strategic investments across private equity and other specialized asset classes, with a commitment to generating sustainable, long-term value.
