Aldar and Expo City Dubai will develop a major mixed-use residential, office, and retail project.
located near Al Maktoum International Airport and the Dubai Exhibition Centre, and seamlessly connected to the city and beyond by a world-class network of major highways and a dedicated metro station.
A new master plan unveiled by Expo City Dubai aims to elevate the area as a prime business and lifestyle destination through the construction of six buildings, building on its reputation for successfully hosting major international events, including the 2020 World Expo and the COP28 global climate conference last year.
In 2031, the Dubai Exhibition Centre will expand by AED10 billion, doubling the exhibition space to 180,000 square meters, making it the region’s largest indoor exhibition and event venue.
Vibrant and sustainable communities
Aldar and Expo City Dubai have established a 50:50 joint venture to deliver and own the mixed-use development, which has a gross development value of more than AED 1.75 billion. The residential, office, and retail spaces will have a combined gross floor area of 103,000 sqm and Aldar will be responsible for the asset management of the development once completed.
The joint venture brings together partners with a shared vision for the creation of vibrant and sustainable communities.
Aldar’s investment reflects its strategy to add significant scale and diversification to its income-generating portfolio alongside strategic partners, with a focus on prime locations within the UAE. Its holding in the Expo City development will add further weight to its presence in Dubai and will be a valuable addition to the company’s develop-to-hold portfolio.
The signing of the joint venture was witnessed by His Highness Sheikh Ahmed bin Saeed Al Maktoum, President of Dubai Civil Aviation Authority, Chairman and Chief Executive of Emirates Airline and Group; Chairman of Expo City Dubai Authority.
