Aldar and Dubai Holding to build 14,000 homes in emirate

• Joint venture acquires two plots in Dubai
• Gross development value over AED38bn
• Family-oriented community to launch in 2026 

Aldar, Abu Dhabi’s largest developer, and Dubai Holding, an investment conglomerate owned by Sheikh Mohammed bin Rashid Al Maktoum, have expanded their real estate development joint venture formed in 2023.

The joint venture has acquired two land plots in Dubai that will house almost 14,000 new homes, with a combined gross development value of more than AED38 billion ($10.4 million), the companies said in a statement.

A 4 million square metre plot, located opposite Nad Al Sheba, will be a family-oriented community featuring apartments, townhouses and villas. The project is targeted for launch in 2026. 

The second plot, located on Palm Jebel Ali, will be an ultra-luxury waterfront development with branded and non-branded residences. Covering 250,000 sq m of gross floor area, the beachfront project will commence sales in 2027. 

Launched in 2002, Palm Jebel Ali’s seven islands feature 16 fronds and more than 90km of beachfront. The island will be home to 35,000 families, helping to house Dubai’s projected net increase in residents to nearly 6 million people by 2040.

Aldar will remain responsible for the full development cycle of both projects, including concept design, sales, delivery and project management.

The three-year-old partnership has already launched three masterplanned residential communities: Haven, Athlon and The Wilds. Sales across the projects have reached nearly AED22 billion to date.

Further reading:

• Aldar unit announces housing project in London commuter town
• Aldar and Mubadala fund to target GCC real estate
• Aldar’s income-generating assets get $1bn boost

The latest offerings, which support Dubai’s 2040 urban masterplan, expand Aldar’s Dubai development pipeline to over 2.3 million sq m of new GFA. 

Earlier this month, Aldar expanded its land bank in Abu Dhabi by over 2 million sq m and aims to deliver 3,000 new residential units with a combined gross development value of almost AED23 billion.

Separately, Abu Dhabi-listed developer Mubadala Investment Company, the $330-billion sovereign wealth fund, moved two of its flagship malls under the control of a joint venture it established with Aldar two years ago.

Aldar was listed on the Abu Dhabi Securities Exchange in 2005. Its share price rose 0.8 percent to AED10.32 on Friday and is up around 19 percent so far this year.

Abu Dhabi conglomerate International Holding Company owns 33.61 percent of Aldar, according to its 2024 annual report.

In March 2025, Nakheel and Meydan merged into Dubai Holding to create a new global economic entity.