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A large-scale real estate development project is launching in Dubai, promising to significantly expand the housing market. Aldar Properties of Abu Dhabi and Dubai Holding have announced the expansion of their joint venture, investing over AED 38 billion (approximately $10.35 billion) in the construction of nearly 14,000 residential properties. This decision reflects the steady growth of the sector, which is focused on attracting both local residents and foreign investors, and is in line with the emirate's economic diversification strategy.
The project covers two strategically important areas. The first is a vast area of approximately 4 million square metres along the D54 growth corridor, opposite Nad Al Sheba. The plan is to create a comfortable family zone with apartments, townhouses and villas, with an emphasis on green spaces, schools and convenient infrastructure. Sales in this complex will start as early as 2026, which will allow new properties to be quickly put into circulation and meet the demand for affordable but high-quality housing for families.
The second site is located on the artificial island of Palm Jebel Ali, which is part of Dubai's Master Plan until 2040. This project will be an elite coastal complex with branded and conventional residences that emphasise luxury and proximity to the sea. With more than 90 kilometres of beaches, Palm Jebel Ali is positioned as the new standard for premium coastal living. Sales are scheduled to launch in 2027, which will enhance the appeal of the Jebel Ali area and contribute to the overall development of the city.
The deal builds on the successful partnership launched in 2023, when Aldar's previous projects in Dubai sold out quickly. Experts estimate that such initiatives will help meet the growing demand for real estate, especially in the premium segment. In 2025, the Dubai market recorded record transaction volumes, and the new project will continue this trend, stimulating the economy by creating thousands of jobs in construction, retail and tourism.
Dubai Holding, controlled by the government, and Aldar, the UAE's leading developer, have already proven the effectiveness of their cooperation in past projects. The 38 billion dirham investment will not only add housing but also improve the quality of the urban environment with modern amenities such as parks, educational centres and transport hubs. Full implementation will take several years, but the first stages promise quick results, reinforcing Dubai's reputation as a global leader in urbanism and comfortable living. The project was announced on 6 February 2026 and is already attracting interest from potential buyers.
