Majid Al Futtaim awards $462m contract for Dubai forest living project
Spanning 738,000 sqm off the Sheikh Mohamed bin Zayed Highway, near Global Village, Ghaf Woods will feature over 7,000 premium units, including one, two, and three-bedroom residences and penthouses.
The community will also be home to Majid Al Futtaim's signature multi-purpose hub, Distrikt, which features a curated selection of retail and farm-to-table dining experiences, said the developer.
Announcing the AED1.7 billion ($462 million) construction contract, Majid Al Futtaim said as per the deal, Innovo Build will be responsible for the construction of 13 buildings with a shared podium level across the Celia, Serra, and Lacina clusters.
Ghaf Woods, it stated, was redefining the concept of living with nature and this milestone is a demonstration of the unique offering it brings.
The development's forest ecosystem is set to outnumber residents and serve as a vital 'Green Lung' delivering up to 20% cleaner air and temperatures up to five degrees Celsius cooler than other areas of the city.
Prioritising wellness, Ghaf Woods promises residents 8km of walking trails, a 3.5km biking loop, resort-style pools, fitness facilities, family-friendly gardens, and a yoga pavilion.
On the dedicated tree nursery, Majid Al Futtaim said with Ghaf Woods set to become a model for sustainable forest living in Dubai, the nursery will be the cornerstone of this vision, where thousands of native and climate-resilient tree species will be grown and nurtured over the next 18 months.
Today, it is home to more than 10,000 trees with that figure set to increase to 20,000 and 105,000 shrubs by May 2026. It will eventually grow to house up to 30,000 trees, which will then be transported and replanted across Ghaf Woods.
Majid Al Futtaim has awarded a AED49 million nursery contract to Barari Natural Resources, part of Mawarid Holding Investment, to manage and oversee the trees care and cultivation.
The facility will be home to a diverse selection of climate-suitable species, including Acacias, Citrus, Ficus, Melia, Phoenix, Tecomella, Ziziphus, and the iconic Ghaf. All species have been procured from Egypt (Nile Delta), India, Thailand, and the UAE – including Fujairah, Sharjah, Ras Al Khaimah, and Abu Dhabi, it added.
Majid Al Futtaim Properties CEO Ahmed El Shamy said: "The concept of Ghaf Woods has been years in the making with a vision for sustainable living at the core. Since its unveiling one year ago, there's been a clear and growing demand from people who are looking for communities that foster a deeper connection with nature and the environment."
"Our investment in a purpose-built tree nursery, and the partnership with Innovo Build, Barari Natural Resources and Mawarid Holding Investment, is a vital step in bringing this vision to life," he added.
Innovo Build CEO Sameh Fam said: "We are proud to partner with Majid Al Futtaim to deliver the early phases of a development as visionary as Ghaf Woods – a project that reflects our shared commitment to innovation, sustainability and community-centric design."
"This project redefines traditional construction, and requires us to build in harmony with nature, not around it. Our team will approach this landmark development with the precision, care and focus on sustainability that cements us as a contractor of choice in UAE," he added.
Mawarid Holding Investment CEO Kashif Shamsi said: "This nursery is a critical foundation for the forest ecosystem at Ghaf Woods. Our focus is not only on scale but also on biodiversity, resilience, and ensuring every tree contributes meaningfully to the project's long-term environmental impact."
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Daily Tribune
3 days ago
- Daily Tribune
Talabat Forecast Upgrade Follows Strong Quarter
TDT | Manama Talabat Holding plc has raised its full-year growth forecasts after a second quarter surge powered by post-IPO expansion and the rapid uptake of its talabat pro loyalty programme across GCC and non-GCC markets. The Dubai-headquartered delivery platform posted a 32 per cent yearon-year rise in gross merchandise value (GMV) to USD 2.4 billion for the quarter, with revenue up 35pc to USD 982 million. Adjusted EBITDA rose 31pc to USD 166m, maintaining a margin of 6.8pc, while net income climbed 33pc to USD 119m, or 4.9pc of GMV. Citing continued momentum in customer acquisition and order frequency, the company lifted its GMV growth target for the year to 27-29pc, up from 17-18pc. Revenue growth is now projected at 29-32pc, compared with an earlier 18-20pc. Adjusted EBITDA margin is expected at 6.5pc, net income margin at 5pc, and adjusted free cash flow at 6pc. Talabat credited its performance to both core GCC markets – including Bahrain, Kuwait, UAE, Qatar and Oman – and faster growth from Egypt, Jordan and Iraq. The UAE remained its largest market, while Kuwait delivered over 20pc growth for both the quarter and first half. The company also reported robust performance in its Food vertical and faster gains in its Grocery & Retail segment, supported by a higher share of subscription and tMart revenues. The GCC accounted for 83pc of GMV in Q2, with non-GCC markets making up the remaining 17pc.
Trade Arabia
6 days ago
- Trade Arabia
Mycrane Trading raises $50m to launch UAE operations
Mycrane Trading, a newly established crane sales, leasing and maintenance services provider, based in Jebel Ali Free Zone, Dubai, has announced the successful closing of a $50 million investment deal with a DIFC-based investment holding company. In partnership with Mycrane, the first global platform for online crane rental, Mycrane Trading will integrate physical inventory and digital reach to deliver seamless access to sales and rentals in the Gulf region. By leveraging the existing platform, both companies will enhance their joint offering through this strategic alliance. Their combined sales and rental portfolio will include all-terrain, crawler, rough-terrain and tower cranes, each accompanied by certified inspection and safety reports. "We've seen rising global demand for both new and used cranes, and growing appetite from asset owners to monetise surplus equipment," remarked Andrei Geikalo, the founder of Mycrane and CEO of Mycrane Trading. "With Mycrane Trading as a key partner, we can now respond directly to this demand by instantly connecting sellers with the rental platform's thousands of fleet-owning users, many of whom have urgent purchase needs," he explained. Whether purchasing locally or internationally, Mycrane Trading customers can access genuine machines at the best possible prices, supported by expert sourcing, rigorous checks and a dedicated customer service team," he stated. Mycrane Trading will leverage its partner's established network of global crane buyers and sellers, as well as its digital reach and market data, to provide competitive and transparent equipment sales. The business will serve customers worldwide, with a particular focus on the Middle East, Africa, CIS and Asia. A dedicated management team has been recruited to run the new operation, including the appointment of Sudheesh Mohan as Head of Sales and Marketing, and Mina Asham as Head of Tower Cranes, both based in the UAE. Ashishkumar Tiwari, Mycrane Sales Director, said: "Mycrane Trading combines the efficiency and reliability of our digital Marketplace with a physical base at Jebel Ali Free Zone. Every crane is carefully sourced, with full documentation and inspection available, giving customers trusted access to verified equipment at competitive prices." "This partnership follows a series of Mycrane growth milestones, including ongoing international expansion, new platform features, and three separate industry award wins in 2025," he noted. Geikalo said: "Our mission has always been to simplify crane procurement. This new collaboration allows us to do that — not just for rentals, but for ownership too." Mycrane Trading is a full service provider of crane solutions, specialising in the purchase, lease and sale of heavy construction equipment, spare parts and accessories.-TradeArabia News Service
Gulf Insider
01-08-2025
- Gulf Insider
Emirates Adds 5th China Route Daily Dubai-Hangzhou Flights
Dubai-based carrier Emirates officially launched its new daily service to Hangzhou, China. This would be the 5th route to the Chinese mainland and the second new destination added to the airline's roster in under a month, following Shenzhen. The launch took place on 30th July with a debut flight from Dubai to Hangzhou Xiaoshan International Airport. Passengers aboard the new flight EK310 were welcomed by local dignitaries, airport officials, a ceremonial water cannon salute and received memorabilia from the airport. The inaugural flight carried passengers from across Emirates' global network, including key markets like the UAE, Nigeria, Italy, Spain, Saudi Arabia, and Brazil, as well as a VIP delegation led by Emirates' senior management and members of the international media. 'China has become one of the world's leading aviation markets, and Emirates is proud to have played a role in its development. Adding two new gateways within just one month is a major milestone that underscores our deepening commitment to the Chinese mainland,' said Adnan Kazim, Emirates' Deputy President and Chief Commercial Officer, regarding the launch. Kazim explained that the expansion demonstrated the conviction of the company's East and Southeast Asia growth strategy, which has gained momentum over the past year. With rising demand, Kazim is optimistic that its global network will continue connecting people, businesses, and economies across Asia and beyond. Emirates remains committed to delivering seamless, reliable connectivity between this dynamic region and the world. 'We extend our sincere appreciation to the Civil Aviation Administration of China, Hangzhou Xiaoshan International Airport, and all our local partners for their invaluable support in enabling the successful start of this route,' said Kazim. The Emirates Boeing 777-300ER (EK310) is scheduled to depart Dubai at 09:40 AM and arrive in Hangzhou at 22:00 PM. The return flight, EK311, departs Hangzhou at 00:10 AM, landing in Dubai at 04:55 AM. Emirates is said to offer optimal connectivity for customers from 40 destinations in Europe, 21 in Africa, 13 in the Middle East, as well as Brazil and Argentina, to Hangzhou via Dubai. The airline also offers convenient two-way connections from Hangzhou to key cities including Istanbul, Barcelona, Cairo, and Johannesburg via Dubai. The Boeing 777-300ER wide-body aircraft is said to offer up to 16 tonnes of bellyhold cargo capacity per flight, enabling the transport of time-sensitive shipments such as e-commerce goods, pharmaceuticals, smart devices, and other high-value products. With a well-defined digital infrastructure in place, Hangzhou serves as a key international gateway for Chinese brands. With Emirates SkyCargo's expansive network spanning six continents and high-speed connectivity through its Dubai hub, goods from Hangzhou and the broader Yangtze River Delta can reach emerging markets in the Middle East, Africa, South Asia, and Latin America faster, reducing delivery timelines and enhancing supply chain performance. Emirates now operates 49 weekly flights to five major Chinese cities: Beijing, Shanghai, Guangzhou, Shenzhen, and Hangzhou. Its signature complimentary chauffeur-drive service for First and Business Class passengers is also available to passengers flying to Hangzhou. With the addition of Hangzhou to its growing Chinese mainland network, Emirates is building a powerful air corridor for trade, tourism, and digital exchanges between China and the Middle East, as well as beyond. The new route will further open new opportunities for Chinese brands to reach a global audience while offering customers from across Emirates' global network better access to this powerful tech hub. Through interline and codeshare agreements with China Southern Airlines, Air China and Sichuan Airlines, Emirates provides enhanced connectivity to destinations beyond its network across China. Travellers from the UAE and other GCC countries can visit China visa-free for up to 30 days, making both business and leisure travel to the Chinese mainland even more convenient. Also read: Facing Low Pay and Rising Rents, a Quarter of Young Brits Weigh UK Exit – Australia and Dubai Most Favoured
