Aldar and Expo City Dubai to Develop AED 1.75 Billion Real Estate Project

Strategic Joint Venture for Dynamic Development

Abu Dhabi-based property developer Aldar and Expo City Dubai have entered a 50-50 joint venture to develop a mixed-use real estate project worth AED 1.75 billion (USD 475 million). This six-building project will be located near Al Maktoum International Airport and the Dubai Exhibition Centre (DEC). The collaboration between Aldar and Expo City Dubai will seek to integrate residential, office, and retail spaces to serve the growing economic ecosystem in the area.

Key Element in Expo City Dubai – New Master Plan

The project is a significant part of a new master plan launched by Expo City Dubai, which aims to transform the area into a premier business and lifestyle destination. Building on the success of the 2020 World Expo and COP28, the development will span a gross floor area of 103,000 square meters. Aldar Properties will take responsibility for managing the development once it is completed.

Expanding Aldar Properties’ Footprint in Dubai

Aldar is continuing to expand its presence in Dubai through partnerships in logistics, and mixed-use residential developments. The company’s current investments include a joint venture with Dubai Holding to build residential communities, a collaboration with DP World for a logistics park, and a planned Grade A office building near the Dubai International Finance Centre. Aldar Properties CEO, Talal Al Dhiyebi, highlighted that this strategic partnership will contribute significantly to the success of the newly launched Expo City Dubai master plan, providing high-quality spaces that will support both businesses and residents in the area.

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Future of Expo City Dubai a Global Hub

Expo City Dubai, a vast 3.5 square kilometer development, is being positioned as a global hub for businesses, investors, and homeowners. A key aspect of this development is the AED 10 billion (USD 2.72 billion) expansion of the Dubai Exhibition Centre, which will increase its exhibition space from 58,000 square meters to 180,000 square meters by the end of the decade. This expansion is aligned with the Dubai 2040 Urban Master Plan and will establish the site as the largest indoor exhibition and events venue in the region, capable of hosting over 600 large-scale events annually by 2033.

The approval of Expo City Dubai’s master plan by Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, reaffirms Dubai’s vision to make the city a key driver of the emirate’s economic development and a dynamic hub for global exhibitions and events.

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