Dubai: Dubai Holding and Select Group, a leading real estate development and investment company, alongside its joint venture partner Emirates Strategic Investments Company LLC (ESIC), have entered a strategic agreement to develop significant projects at Palm Jebel Ali and Dubai Design District (d3).
According to Emirates News Agency, this agreement marks Dubai Holding's first strategic land sale with a third-party developer at Palm Jebel Ali, emphasizing its dedication to enhancing value across its master developments. The transaction highlights a mutual vision to create vibrant communities that bolster Dubai's status as a global destination.
Select Group is set to develop two major projects. At Palm Jebel Ali, the focus will be on upscale residential and hospitality offerings to redefine luxury waterfront living. The Dubai Design District project will be a mixed-use community that combines culture, innovation, and urban living in one of Dubai's creative hubs.
Khalid Al Malik, CEO of Dubai Holding Real Estate, stated the partnership aims to elevate Dubai's reputation as a premier waterfront destination and is in line with the leadership's vision for luxury residential and hospitality experiences. Rahail Aslam, Chairman of Select Group, expressed excitement about the projects, noting that they reflect Dubai's appeal for investment and quality living while aligning with the Group's ethos of quality and sophistication.