Dubai Holding signs new deal with Select Group for Palm Jebel Ali development
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.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Arabian Business
34 minutes ago
- Arabian Business
How the UAE is using public-private partnerships to transform services, boost investment and create sustainable growth
The UAE Ministry of Finance is turning public-private partnerships (PPPs) into a central driver of national development — using them to transform services, attract new investment, and support sustainable growth. Over the past two years, the Ministry has established a robust PPP framework backed by new legislation, governance tools, and training initiatives designed to strengthen cooperation between the government and private sector. These measures are aligned with the UAE's long-term ambitions under the 'We the UAE 2031' vision and the UAE Centennial 2071 strategy. UAE public-private partnerships Younis Haji AlKhoori, Undersecretary of the Ministry of Finance, said: 'Developing a robust PPP framework is a top priority for the Ministry of Finance, recognising its role as an effective instrument for sustainable development and a significant player in fuelling the UAE's economic and social advancement as well as in achieving the UAE's strategic goals. 'Through these partnerships, we strive to make the most of available resources, strengthen government performance, and facilitate the exchange of financial, administrative, and technological expertise with the private sector. 'We are committed to improving the community's quality of life, reinforcing the resilience and sustainability of the national economy, and advancing the objectives of the 'We the UAE 2031' vision and the UAE Centennial 2071.' In 2023, the UAE enacted Federal Law No. (12) regulating PPP projects at the federal level. The law encourages private sector participation in strategic and developmental initiatives, boosts investment in projects with significant economic and social value, and helps the federal government deliver projects with greater efficiency. In June 2024, the Ministry released a PPP Project Manual, setting out detailed procedures and policies for federal entities and private partners across the full project lifecycle — from planning and design to execution and operations. To build implementation capacity, the Ministry has run workshops to familiarise stakeholders with PPP processes. In May 2025, it launched a specialised PPP training programme developed with an APMG International-accredited institute. Graduates receive the Certified PPP Professional (CP3P) – Foundation Level qualification, supported by leading international financial institutions. Following the success of the first phase, the Ministry is preparing to launch the second phase, designed to deepen national expertise in PPPs and ensure long-term sustainability in line with international best practice. The Ministry of Finance said these initiatives reinforce the United Arab Emirates' determination to integrate private sector innovation and global expertise into strategic projects — ensuring that PPPs play a pivotal role in delivering a more sustainable and prosperous future.
Arabian Business
35 minutes ago
- Arabian Business
Qatar real estate transactions hit $80.6m in one week
Qatar recorded QR293.6m ($80.6m) in real estate transactions between August 10 and August 14, according to the latest weekly bulletin issued by the Ministry of Justice's Real Estate Registration Department. The report showed that QR32.4m ($8.9m) came from the sale of residential units during the same period. Properties traded included: Vacant plots of land Houses A residential building A commercial building A residential structure Residential units Qatar real estate this week Sales activity was concentrated across several municipalities, including Al Rayyan, Doha, Al Wakrah, Al Daayen, Umm Salal, Al Shamal, Al Khor, and Al Thakhira, as well as in key development areas such as The Pearl Island, Lusail 69, and Al Kharayej. The Ministry of Justice said the weekly bulletin highlights trends in Qatar's property market, offering transparency and insights into the country's real estate sector, which continues to play a pivotal role in the national economy.
Khaleej Times
an hour ago
- Khaleej Times
UAE: SCA warns investors against unlicensed individual, company in Dubai
The Securities and Commodities Authority (SCA) has issued a fresh warning to investors against dealing with an individual and a Dubai-based company found to be operating without approval. In a notice published on its website, the regulator said Thoufeek Raja Abdul Majeeth is not licensed or authorised to carry out activities under its supervision. 'The SCA assumes no responsibility for any transactions or dealings with him in this regard,' the statement noted. The SCA also cautioned the public against FX GLOBE Marketing Management, a Dubai-based firm, stressing that it is not authorised to conduct regulated financial activities or provide related services. The authority urged investors to verify the licensing status of any entity before transferring funds or entering into agreements, warning that transactions with unlicensed operators could leave them vulnerable to fraud. The move is in line with SCA's mandate under Federal Law No. 4 of 2000 to protect investors and safeguard the integrity of financial markets. This is the latest in a series of advisories issued by the regulator. On July 17, the SCA cautioned the public against engaging with Sigma-One Capital, Sigma Wealth World Financial, and Sigma One Cap Marketing Services, none of which are licensed to operate in the UAE. The warnings come on the heels of a series of Khaleej Times investigative reports that uncovered how such entities operating through shell firms, fake offices, and offshore registrations lured UAE residents into transferring thousands of dirhams through aggressive cold calls and misleading trading dashboards.
