Latest news with #SelectGroup
Gulf Today
01-07-2025
- Business
- Gulf Today
Dubai Holding to develop new projects at Palm Jebel Ali and d3
Dubai Holding and Select Group, a leading multi-discipline real estate development and investment group along with its long-standing JV partner Emirates Strategic Investments Company (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.' In March, 2025 National Central Cooling Company (Tabreed) and Dubai Holding Investments, part of Dubai Holding, have entered a concession agreement to provide district cooling services for Palm Jebel Ali in Dubai. The agreement establishes a joint venture, with Tabreed holding a 51 per cent stake and Dubai Holding Investments 49 per cent. This structure is designed to optimise cooling capacity, enhance information-sharing and strengthen customer protection, while ensuring sustainable cooling solutions for one of Dubai's most transformative developments. Supported by Tabreed's major shareholders, sovereign investor Mubadala (42 per cent) and the French low-carbon energy and services company ENGIE (40 per cent), the agreement was signed by Khalid Al Marzooqi, CEO of Tabreed, and Omar Karim, CEO of Dubai Holding Investments, in the presence of senior officials from Tabreed, Dubai Holding, Mubadala and ENGIE. Subject to customary approvals, construction of the district cooling network is expected to commence in Q2 2025, with the first cooling services expected to be delivered by 2027. Over time, the system will address the need for approximately 250,000 RTs of cooling capacity and require an estimated investment of Dhs1.5 billion. Following the signing, Dr. Bakheet Al Katheeri, Chairman of Tabreed and Chief Executive Officer of Mubadala's UAE Investments Platform, said, 'Mubadala has a worldwide reputation for being a responsible investor with an unwavering focus on its ESG framework and Tabreed is a vital part of our portfolio as a driver of sustainability and societal progress. The signing marks a major milestone in Tabreed's 27-year history and underscores the company's commitment to providing sustainable, high-efficiency cooling solutions for large-scale developments.' Karim commented, 'This agreement reinforces Dubai Holding's long-term vision of developing sustainable communities with high-quality infrastructure at their core. Palm Jebel Ali is one of Dubai's most ambitious developments and by incorporating district cooling services we support our customers and align to our commitment to deliver future-ready urban environments.' In turn, Al Marzooqi said, 'Palm Jebel Ali is a transformative project that will shape Dubai's future and we are proud to play a role in ensuring its infrastructure meets world-class standards.' Earlier in May 2025 Dubai Holding, a diversified global investment company with investments in more than 30 countries, has announced the launch of its Early Careers Programme, a future-focused initiative designed to attract, nurture and accelerate high-potential talent. WAM
Arabian Business
01-07-2025
- Business
- Arabian Business
Dubai Holding signs new deal with Select Group for Palm Jebel Ali development
Dubai Holding and Select Group have entered a new agreement to develop projects at Palm Jebel Ali and Dubai Design District (d3). The deal marks Dubai Holding's first strategic land sale with a third-party developer at Palm Jebel Ali. The partnership involves Emirates Strategic Investments Company LLC (ESIC) as Select Group's joint venture partner, the Dubai Media Office said in a statement. Dubai Holding, Select Group forge strategic deal Dubai Holding operates as a diversified global investment company with investments in more than 30 countries, while Select Group functions as a multi-discipline real estate development and investment group. Select Group will develop two large-scale developments under the agreement. At Palm Jebel Ali, the company will create residential and hospitality offerings for waterfront lifestyles. The d3 project will serve as a mixed-use community that combines culture, innovation and urban living in Dubai's creative hub. 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.' The deal continues Select Group's expansion into design-forward projects that target global residents and investors seeking environments beyond conventional definitions of luxury. Each development will contribute to Dubai's urban identity evolution. Select Group's portfolio includes Six Senses Residences The Palm, Dubai, Peninsula in Business Bay and Six Senses Residences Dubai Marina. The company has established its position as one of the UAE's private developers through the delivery of destinations. Palm Jebel Ali spans seven islands across 13.4 kilometres and features 16 fronds and over 90 kilometres of beachfront. The development marks the beginning of a growth corridor in the Jebel Ali area, supporting the emirate's expansion under the Dubai 2040 Urban Master Plan and the Dubai Economic Agenda D33. The development includes mixed-use pedestrian-friendly neighbourhoods with views of the Arabian Gulf. Dubai Design District (d3) operates as a global creative ecosystem and destination for design talent worldwide. The district offers views of the Dubai skyline including Burj Khalifa and reinforces Dubai's status as the first city in the Middle East to receive UNESCO Creative City of Design designation.
Time of India
01-07-2025
- Business
- Time of India
Dubai's top developers announce plans to collaborate and transform Palm Jebel Ali and Dubai Design District
Dubai Holding and Select Group to develop luxury homes and creative spaces at Palm Jebel Ali and d3/Representative Image Dubai Holding has partnered with Select Group and Emirates Strategic Investments Company LLC (ESIC) to launch major residential and hospitality developments at Palm Jebel Ali and Dubai Design District (d3). The agreement marks Dubai Holding's first third-party land sale at Palm Jebel Ali and reflects a broader strategy to elevate Dubai's standing as a global destination for upscale waterfront living and design-forward urban spaces. New Waterfront Development at Palm Jebel Ali The collaboration will bring premium residential and hospitality offerings to Palm Jebel Ali, an iconic project spanning seven islands, 16 fronds, and offering over 90 kilometers of beachfront across 13.4 kilometers of land. The project will focus on: Mixed-use, walkable neighbourhoods Panoramic Arabian Gulf views Upscale hospitality and living experiences This landmark initiative will catalyze a new growth corridor in the Jebel Ali area, building on Dubai's vision of creating world-class coastal destinations. '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 speaking to local news outlet, Khaleej Times. '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. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 40분이면 끝! 이미지로 배우는 진짜 영어 스티븐영어 지금 시작하기 Undo Vibrant Mixed-Use Project in Dubai Design District (d3) In parallel, the partnership will also develop a major new project at Dubai Design District (d3). The upcoming development aims to create a vibrant, mixed-use community that blends: Culture Innovation Contemporary urban living The area is already recognized globally as a hub for creative talent and design professionals. With views of the Dubai skyline and Burj Khalifa, d3 stands out as Dubai's beacon for design innovation and has helped the city earn the title of UNESCO Creative City of Design, the first in the Middle East. 'We are incredibly excited about what we will be bringing to market in both Palm Jebel Ali and d3,' said Rahail Aslam, Chairman of Select Group. 'These are two unique locations that align perfectly with our brand ethos of waterfront location, quality, sophistication and long-term value creation.' Design, Strategy, and Market Impact Design and planning for both Palm Jebel Ali and d3 projects are currently underway. Further details — including architectural designs, construction timelines, and unit specifics — will be announced in due course. This partnership extends Select Group's ongoing expansion into design-led, high-impact developments that cater to: A new generation of global residents Investors seeking immersive, luxury-driven environments Those looking for experiences that go beyond traditional luxury The group's past developments include: The Palm, Dubai Peninsula in Business Bay Six Senses Residences Dubai Marina These projects reflect a consistent track record of delivering premium developments with long-term investment value.
Zawya
01-07-2025
- Business
- Zawya
Dubai Holding enters strategic agreement with Select Group to develop landmark projects at Palm Jebel Ali, Dubai Design District
Dubai Holding 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.'
Khaleej Times
01-07-2025
- Business
- Khaleej Times
Dubai: Palm Jebel Ali to get more residential, hospitality units
Palm Jebel Ali will get upscale residential and hospitality offerings, in Dubai Holding's first land sale with a third-party developer at the iconic destination. A large-scale project will also be developed at Dubai Design District (d3), with the area serving as a vibrant mixed-use community, seamlessly blending culture, innovation and contemporary urban living. This comes as part of a strategic agreement between Dubai Holding and Select Group, along with its long-standing JV partner Emirates Strategic Investments Company LLC (ESIC). Design and planning phases for both projects are underway, with further details regarding project specifics and timelines to be announced soon. Palm Jebel Ali's seven islands span 13.4km and feature 16 fronds and over 90 kilometres of beachfront, marking the beginning of a new growth corridor in the Jebel Ali area. 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. Khalid Al Malik, CEO 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." Rahail Aslam, Chairman of Select Group, added: '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. Select Group has a distinguished track record that includes The Palm, Dubai, Peninsula in Business Bay and the newly launched Six Senses Residences Dubai Marina.
