Majid Al Futtaim has signed an agreement with Dubai South to develop a landmark mixed-use community at an investment of US $16.8bn.
Spanning 22m sqft, the new master-planned development will feature a diverse mix of residential, retail, and lifestyle offerings, designed to serve the growing population within Dubai South and the surrounding areas, said a statement.
The project will be anchored by a large shopping mall, set to become a key retail, entertainment, and lifestyle destination for residents and visitors alike.
Strategically located near Al Maktoum International Airport, which is set to become the world’s largest airport upon completion, the development will benefit from seamless connectivity to key highways and major transport corridors, within close proximity to Dubai’s major economic and logistics hubs, it added.
The agreement was signed at Dubai South HQ by Nabil Alkindi, Group CEO of Dubai South, and Ahmed Galal Ismail, CEO of Majid Al Futtaim Holding in the presence of Khalifa Alzaffin, Executive Chairman of Dubai Aviation City Corporation and Dubai South, and Fadel Abdulbaqi Al Ali, Chairman of Majid Al Futtaim Holding.
On the key project, Alkindi said, “Dubai continues to demonstrate the resilience and strength of its economy through strategic developments that reinforce its position as a global destination for investment, business, and quality living.”
“This partnership with Majid Al Futtaim marks an important milestone in the continued growth of Dubai South, in line with the Dubai Economic Agenda D33 and our wise leadership’s long-term vision to develop integrated, future-ready communities that support sustainable economic and urban expansion,” he stated.
Ismail said the agreement underscores Majid Al Futtaim’s long-term confidence in Dubai’s growth and its commitment to creating destinations that deliver lasting economic value.
“Dubai South is emerging as the next major chapter in the city’s development, and we are proud to shape our next mixed-use community in such a vibrant and strategically important location. Dubai continues to set a global benchmark for resilience and ambition, and our collaboration with Dubai South is a strategic investment in the emirate’s future, helping to build its next economic hub through an integrated destination that brings together retail, entertainment, hospitality, and residential experiences within one of Dubai’s fastest-growing urban hubs,” he concluded.
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