Strategic Partnership Overview
Dubai Holding and Select Group have entered into a new and landmark agreement for big projects at Palm Jebel Ali and d3. This deal is… being regarded as the first strategic land sale by Dubai Holding to a third-party developer at Palm Jebel Ali, and is hence setting a precedent for future development in the region. Another enhancement to the partnership will be the involvement of Emirates Strategic Investments Company LLC (ESIC) as a joint venture partner with Select Group, which will considerably strengthen the development capabilities of the consortium.
Dubai Holding operates internationally, with investments in more than 30 countries, while Select Group is a premier real estate developer and one of the best performers in hard-core delivery of good projects with higher design standards across the UAE. The synergy then uses the forces of both parties to create iconic, world-class developments positioned as Dubai’s vision for urban development and lifestyle excellence.
Palm Jebel Ali Project Details
Palm Jebel Ali, envisioned to become the fornication luster waterfront of Dubai, consists of a maximum of seven island types stretching across 13.4 kilometers with 16 fronds and more than 90 kilometers of beachfront. Select Group will act as a developer through the new partnership, developing residential and hospitality offerings that glamour at living on Dubai’s waterfront. Attention is placed on those mixed-use neighborhoods that are pedestrian-friendly, with bent viewpoints of the Arabian Gulf, who serve both the residents as well as the international investors looking for an up-scale lifestyle.
Acting as the gateway to the new development corridor in the Jebel Ali area, the project becomes the central feature of any westward expansion of the emirate. Because of this, there is excellent synergy with the Dubai 2040 Urban Master Plan, which stands for sustainable urban development, world-class facilities, and improving life quality that the city, as it grows in size, very much deserves.
Roles and Responsibilities
- Dubai Holding: The group is acting as the landowner and strategic partner, being a development framework and a strategic guiding agent to secure full and timely alignment of projects with the bigger urban and economic agenda as set forth by Dubai.
- Select Group: Select Group is engaged in residential and hospitality design, planning, and execution of projects within Palm Jebel Ali, drawing from its considerable wherever it has pioneered and implemented waterfront and mixed-use developments of the highest caliber.
- Emirati Strategic Investments Company: Joins as a joint venture partner with Select Group and further investment and development expertise are thus added to the partnership.
During the project phases, both parties guarantee the highest quality, the most innovative solutions, and total sustainability standards. At present, we are in the design and planning phase; further details and the announcement of the timeline shall be made.
Expected Impact and Benefits
Elevating Dubai’s Global Reputation: With its promise, the project will put a finer edge on Dubai’s status as a showcase waterfront luxury destination, thus enticing associating international investors into the process and giving Dubai a rivaling center of innovation and quality living.
- Support Dubai 2040: By creating a walkable, mixed-use neighborhood, the partners will be realizing the realization of sustainable and integrated communities and coasts of Dubai as envisioned by the Dubai 2040 Urban Master Plan.
- Economic Development: The project will create a pipeline for investment, jobs, and tourism into the Jebel Ali corridor as per the Dubai Economic Agenda D33.
- Life-Style Investment Value: Amenities of a world-class standard and long-term value creation will be on offer to residents and investors alike, imitating the style of the Select Group’s previous projects such as Six Senses Residences or Peninsula in Business Bay.
