Latest news with #WELLBuildingStandard
Web Release
28-05-2025
- Business
- Web Release
MAG GROUP and Citic Limited Sign MoU for USD 6 Billion 'Keturah Ardh' Development in Dubai
In a landmark move poised to significantly shape Dubai's luxury real estate landscape, MAG Group and CITIC Limited, one of China's largest state-owned conglomerates, have announced the signing of a Memorandum of Understanding (MoU) for the development of Keturah Ardh — a visionary USD 6 billion project spanning 18.47 million square feet in the Al Rowaiyah First District of Dubai. The signing ceremony brought together two financial powerhouses: MAG Group Holding, with a portfolio valued at USD 3 billion, ongoing sales worth USD 5 billion, and developments estimated at approximately USD 17 billion; and CITIC Limited, which manages total assets exceeding USD 1.67 trillion. This collaboration, marking CITIC Limited's first major entry into Dubai's premium real estate sector. The development timeline outlines the completion of infrastructure works and full site mobilisation by Q2 and Q3 2025. The first phase, launched under the Keturah Ardh Couture Art brand, will debut in Q4 2025. The second phase is expected in Q1 2026, with subsequent phases rolled out through to 2027. The project is expected to be completed within a two- to seven-year timeframe. Plot sizes within the development will range from 50,000 to 200,000 square feet, and the site will feature more than 100,000 trees—aging between 20 and 2,200 years—brought together through an innovative 'Life-Scaping' approach. In his comments, Moafaq A. Al Gaddah, Founder and Chairman of MAG Group Holding, said: 'Keturah Ardh exemplifies what the future of living in Dubai should look like. Our aim is to create a place where people feel deeply connected to their surroundings, with nature and community embedded into daily life.' Yang Jianqiang, Chairman of CITIC Limited, said: 'Our partnership with MAG Group Holding is built on a strategy of long-term value and genuine collaboration. By leveraging CITIC Limited's wealth of expertise in advanced manufacturing, innovative materials, sustainable infrastructure, and real estate, we want to shape a destination that welcomes all generations and sets new benchmarks for sustainability in the region.' In line with international environmental standards, the project is actively pursuing prestigious certifications such as LEED ND and the WELL Building Standard—underscoring Dubai's commitment to sustainable and future-ready developments.
Business Upturn
28-05-2025
- Business
- Business Upturn
MAG GROUP and Citic Limited Sign MoU for USD 6 Billion 'Keturah Ardh' Development in Dubai
Dubai, United Arab Emirates: In a landmark move poised to significantly shape Dubai's luxury real estate landscape, MAG Group and CITIC Limited, one of China's largest state-owned conglomerates, have announced the signing of a Memorandum of Understanding (MoU) for the development of Keturah Ardh — a visionary USD 6 billion project spanning 18.47 million square feet in the Al Rowaiyah First District of Dubai. This press release features multimedia. View the full release here: Moafaq A. Al Gaddah, Founder and Chairman of MAG Group Holding and Yang Jianqiang, Chairman of CITIC Limited. (Photo: AETOSWire) The signing ceremony brought together two financial powerhouses: MAG Group Holding, with a portfolio valued at USD 3 billion, ongoing sales worth USD 5 billion, and developments estimated at approximately USD 17 billion; and CITIC Limited, which manages total assets exceeding USD 1.67 trillion. This collaboration marks CITIC Limited's first major entry into Dubai's premium real estate sector. The development timeline outlines the completion of infrastructure works and full site mobilisation by Q2 and Q3 2025. The first phase, launched under the Keturah Ardh Couture Art brand, will debut in Q4 2025. The second phase is expected in Q1 2026, with subsequent phases rolled out through to 2027. The project is expected to be completed within a two- to seven-year timeframe. Plot sizes within the development will range from 50,000 to 200,000 square feet, and the site will feature more than 100,000 trees—aging between 20 and 2,200 years—brought together through an innovative 'Life-Scaping' approach. In his comments, Moafaq A. Al Gaddah, Founder and Chairman of MAG Group Holding, said: 'Keturah Ardh exemplifies what the future of living in Dubai should look like. Our aim is to create a place where people feel deeply connected to their surroundings, with nature and community embedded into daily life.' Yang Jianqiang, Chairman of CITIC Limited, said: 'Our partnership with MAG Group Holding is built on a strategy of long-term value and genuine collaboration. By leveraging CITIC Limited's wealth of expertise in advanced manufacturing, innovative materials, sustainable infrastructure, and real estate, we want to shape a destination that welcomes all generations and sets new benchmarks for sustainability in the region.' In line with international environmental standards, the project is actively pursuing prestigious certifications such as LEED ND and the WELL Building Standard—underscoring Dubai's commitment to sustainable and future-ready developments. Source: AETOSWire View source version on Disclaimer: The above press release comes to you under an arrangement with Business Wire. Business Upturn takes no editorial responsibility for the same.
Mid East Info
28-05-2025
- Business
- Mid East Info
MAG GROUP and Citic Limited Sign MoU for USD 6 Billion 'Keturah Ardh' Development in Dubai - Middle East Business News and Information
CITIC Limited's total assets exceed USD 1.67 trillion Dubai, United Arab Emirates: In a landmark move poised to significantly shape Dubai's luxury real estate landscape, MAG Group and CITIC Limited, one of China's largest state-owned conglomerates, have announced the signing of a Memorandum of Understanding (MoU) for the development of Keturah Ardh — a visionary USD 6 billion project spanning 18.47 million square feet in the Al Rowaiyah First District of Dubai. The signing ceremony brought together two financial powerhouses: MAG Group Holding, with a portfolio valued at USD 3 billion, ongoing sales worth USD 5 billion, and developments estimated at approximately USD 17 billion; and CITIC Limited, which manages total assets exceeding USD 1.67 trillion. This collaboration, marking CITIC Limited's first major entry into Dubai's premium real estate sector. The development timeline outlines the completion of infrastructure works and full site mobilisation by Q2 and Q3 2025. The first phase, launched under the Keturah Ardh Couture Art brand, will debut in Q4 2025. The second phase is expected in Q1 2026, with subsequent phases rolled out through to 2027. The project is expected to be completed within a two- to seven-year timeframe. Plot sizes within the development will range from 50,000 to 200,000 square feet, and the site will feature more than 100,000 trees—aging between 20 and 2,200 years—brought together through an innovative 'Life-Scaping' approach. In his comments, Moafaq A. Al Gaddah, Founder and Chairman of MAG Group Holding, said: 'Keturah Ardh exemplifies what the future of living in Dubai should look like. Our aim is to create a place where people feel deeply connected to their surroundings, with nature and community embedded into daily life.' Yang Jianqiang, Chairman of CITIC Limited, said: 'Our partnership with MAG Group Holding is built on a strategy of long-term value and genuine collaboration. By leveraging CITIC Limited's wealth of expertise in advanced manufacturing, innovative materials, sustainable infrastructure, and real estate, we want to shape a destination that welcomes all generations and sets new benchmarks for sustainability in the region.' In line with international environmental standards, the project is actively pursuing prestigious certifications such as LEED ND and the WELL Building Standard—underscoring Dubai's commitment to sustainable and future-ready developments.
Business Wire
28-05-2025
- Business
- Business Wire
MAG GROUP and Citic Limited Sign MoU for USD 6 Billion "Keturah Ardh" Development in Dubai
DUBAI, United Arab Emirates--(BUSINESS WIRE)--In a landmark move poised to significantly shape Dubai's luxury real estate landscape, MAG Group and CITIC Limited, one of China's largest state-owned conglomerates, have announced the signing of a Memorandum of Understanding (MoU) for the development of Keturah Ardh — a visionary USD 6 billion project spanning 18.47 million square feet in the Al Rowaiyah First District of Dubai. The signing ceremony brought together two financial powerhouses: MAG Group Holding, with a portfolio valued at USD 3 billion, ongoing sales worth USD 5 billion, and developments estimated at approximately USD 17 billion; and CITIC Limited, which manages total assets exceeding USD 1.67 trillion. This collaboration marks CITIC Limited's first major entry into Dubai's premium real estate sector. The development timeline outlines the completion of infrastructure works and full site mobilisation by Q2 and Q3 2025. The first phase, launched under the Keturah Ardh Couture Art brand, will debut in Q4 2025. The second phase is expected in Q1 2026, with subsequent phases rolled out through to 2027. The project is expected to be completed within a two- to seven-year timeframe. Plot sizes within the development will range from 50,000 to 200,000 square feet, and the site will feature more than 100,000 trees—aging between 20 and 2,200 years—brought together through an innovative 'Life-Scaping' approach. In his comments, Moafaq A. Al Gaddah, Founder and Chairman of MAG Group Holding, said: "Keturah Ardh exemplifies what the future of living in Dubai should look like. Our aim is to create a place where people feel deeply connected to their surroundings, with nature and community embedded into daily life." Yang Jianqiang, Chairman of CITIC Limited, said: "Our partnership with MAG Group Holding is built on a strategy of long-term value and genuine collaboration. By leveraging CITIC Limited's wealth of expertise in advanced manufacturing, innovative materials, sustainable infrastructure, and real estate, we want to shape a destination that welcomes all generations and sets new benchmarks for sustainability in the region." In line with international environmental standards, the project is actively pursuing prestigious certifications such as LEED ND and the WELL Building Standard—underscoring Dubai's commitment to sustainable and future-ready developments.
Associated Press
15-05-2025
- Business
- Associated Press
IWBI Launches Tool Aligning WELL v2 to BRSR, Supercharging Indian Companies' Ability To Identify, Measure and Report on Social Sustainability Strategies
New practical resource is designed to help organizations explore how WELL's strategies for health, well-being and social impact align with India's Business Responsibility and Sustainability Reporting (BRSR) framework -- Strategies in WELL can contribute to 42% of BRSR indicators NEW YORK and DELHI, May 14, 2025 /3BL/ - The International WELL Building Institute (IWBI), the global authority for advancing healthy buildings, organizations and communities, announced today the launch of its WELL-BRSR Alignment Tool, a resource designed to facilitate a comprehensive understanding of the alignment between the WELL Building Standard (WELL v2) and the Business Responsibility and Sustainability Reporting (BRSR) framework, which was introduced by the Securities and Exchange Board of India (SEBI). This tool aims to demonstrate how WELL v2 can complement certain BRSR disclosure obligations, while fostering health, well-being and social sustainability across buildings, organizations and communities. Strategies in WELL v2 can contribute to approximately 42% of the BRSR indicators, including 44% of essential (mandatory) and 38% of leadership (voluntary) indicators, according to IWBI's analysis. In addition to highlighting extensive alignment, the tool offers companies a clear framework for leveraging WELL to help meet India's sustainability reporting requirements. 'India's sustainability journey is entering a new chapter—one where transparency, accountability and the well-being of people are taking center stage,' said IWBI President and CEO Rachel Hodgdon. 'We are proud to introduce the WELL-BRSR Alignment Tool to support the business community in India and demonstrate how WELL helps companies to advance their health and well-being strategies to align with corporate sustainability objectives and reporting requirements.' As sustainability reporting becomes increasingly central to corporate accountability in India, the BRSR framework highlights the need for organizations to demonstrate their impact on people and the planet. This tool supports that effort by illustrating how strategies within the WELL Standard can contribute to key BRSR disclosures—particularly those related to health, well-being and social impact. 'India is one of the fastest-growing markets for WELL adoption, with forward-looking organizations applying WELL strategies not only to individual buildings but across entire portfolios,' said Prateek Khanna, IWBI Chief Operating Officer. 'This approach reinforces enterprise-level leadership in social sustainability while supporting alignment with India's evolving regulatory expectations—backed by WELL's rigorous third-party verification and a consistent, people-first framework.' As BRSR continues to mature, companies in India are actively seeking structured frameworks to integrate social sustainability and employee well-being into their disclosures. BRSR places explicit emphasis on employee well-being as one of its nine core principles based on India's National Guidelines for Responsible Business Conduct (NGRBC). 'India has taken bold steps in advancing sustainability through regulations like BRSR,' said Minjia Yang, Vice President and Head of Sustainable Finance at IWBI. 'Based on IWBI's internal review, strategies in WELL v2 may contribute to five out of the nine BRSR principles, with the strongest alignment observed across socially focused areas such as employee well-being, human rights and stakeholder engagement. This reinforces the unique value WELL brings to organizations seeking to meet regulatory expectations while advancing health, equity and people-centered sustainability.' The WELL-BRSR Alignment Tool reflects IWBI's commitment to better understanding the interplay between the WELL Standard and global sustainability regulations. Increasingly, governments around the world are exploring ways to support social sustainability, such as India's BRSR framework, as well as in other international frameworks and organizational initiatives. As regulations and best practices continue to evolve globally, this tool not only aims to address alignment but also to provide insights for policy, advocacy and a holistic understanding of social sustainability to promote the thriving of our people and the planet. The WELL-BRSR Alignment Tool was developed in close collaboration with the India team of Ideaship Inc. 'In a way, WELL brings the 'how' to BRSR's 'why.' They operate like two interlocking gears in the same engine wherein BRSR sets the direction through structured transparency, and WELL powers the motion with actionable strategies,' said Ashish Pandya, Lead Consultant, Sustainable Spaces, ideaship Inc. 'While BRSR outlines the framework for human capital and well-being, WELL provides the roadmap to act on it. Together, they turn ESG from theory to experience. It is the difference between promising a great workplace and actually creating one people are proud to be part of.' To access the WELL v2 - BRSR alignment tool and learn more about its benefits, please visit the resource page. What our community is saying: 'With the launch of WELL-BRSR Alignment Tool, IWBI is enabling companies to elevate their ESG disclosures by integrating health and well-being metrics into respected ESG rating frameworks. This alignment strengthens transparency, drives performance on social indicators, and supports organizations in achieving higher ESG scores through credible, standard-based reporting.'— Shavi Chawla, Chief Ratings Officer, ESG Rating Provider - CFC Finlease 'IWBI's WELL-BRSR Alignment Tool is a game-changer for Indian companies navigating ESG transformation. At Growlity, we've seen first-hand how health and well-being metrics, when integrated with BRSR disclosures, can unlock deeper stakeholder value and regulatory preparedness. This strategic tool empowers the top 1000 listed companies to go beyond compliance and lead with purpose—turning ESG ambition into measurable outcomes.'— Dr. Nitin Dumasia, President and CEO, Growlity, Inc. About BRSRThe Business Responsibility and Sustainability Reporting (BRSR) framework, developed by the Securities and Exchange Board of India (SEBI), mandates sustainability disclosures for India's top 1,000 listed companies by market capitalization. Introduced as a voluntary framework in FY 2021–22 and made mandatory from FY 2022–23, BRSR represents one of the most comprehensive and regulated national sustainability reporting frameworks globally. Grounded in India's National Guidelines on Responsible Business Conduct (NGRBC), the BRSR framework covers nine principles that span environmental, social and governance topics. The framework is designed to drive transparency, accountability and long-term value creation across India's corporate sector. About WELLWELL v2 is the latest iteration of the WELL Building Standard, the world's premier building rating system that provides actionable strategies for health and well-being at the building, organizational and community levels. In addition to the WELL v2 - ESRS alignment tool, IWBI has also created WELL v2 alignment tools with the United Nations Sustainable Development Goals, GRESB, LEED, IRIS, GRI, S&P CSA. Today, more than 74,000 commercial and residential locations in 138 countries are using WELL, representing nearly 6 billion square feet of space. In addition, more than 180 companies in the Global 500 and Fortune 500 are using WELL to demonstrate health leadership and support their annual reporting. Increasingly, WELL is being factored in sustainable finance, included in at least 12 financial instruments to date. Seventy organizations across various industries around the world have incorporated WELL into one or more of their sustainable finance frameworks and reporting mechanisms. About the International WELL Building InstituteThe International WELL Building Institute (IWBI) is a public benefit corporation and the global authority for transforming health and well-being in buildings, organizations and communities. In pursuit of its public-health mission, IWBI mobilizes its community through the development and administration of the WELL Building Standard (WELL), WELL for residential, WELL Community Standard, its WELL ratings and management of the WELL AP credential. IWBI also translates research into practice, develops educational resources and advocates for policies that promote people-first places for everyone, everywhere. More information on WELL can be found here. International WELL Building Institute, IWBI, the WELL Building Standard, WELL v2, WELL Certified, WELL AP, WELL EP, WELL Score, The WELL Conference, We Are WELL, the WELL Community Standard, WELL Health-Safety Rated, WELL Performance Rated, WELL Equity Rated, WELL Equity, WELL Coworking Rated, WELL Residence, Works with WELL, WELL and others, and their related logos are trademarks or certification marks of International WELL Building Institute pbc in the United States and other countries. 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