CMS advises Aldar Properties on its strategic partnership with Dubai Holding

CMS has advised Aldar Properties PJSC (Aldar) on its joint venture with Dubai Holding to develop three new residential communities in Dubai consisting of over 9,000 residential units. The three communities will comprise villas, townhouses, and apartments supported by retail and community facilities spread over 38.2 million sq ft of land in Dubai, with launches planned to start in 2023.

The agreement marks Aldar’s first entry into the Dubai Real Estate Market as part of its broader expansion plans into new markets, adding considerable weight to its development pipeline. Under the agreement, Aldar will be responsible for the full development cycle of the three communities, including concept design, sales, delivery and management of the developments.

Aldar is one of the UAE’s leading real estate developers, investors and managers and is driving forward the development of new projects across the UAE. Dubai Holding is a diversified global investment company with an extensive portfolio of AED 130bn worth of assets.

CMS advised Aldar on all aspects of the joint venture, from the initial structuring phases through to completion.

The CMS team was led by John O’Connor (Corporate) and Geoff Smith (Real Estate) supported by Kiren Matharu, Fawzi Oueidat and Virginia Sanchez-Eguibar (Corporate) and Mai Marshad and Georgie Rossall (Real Estate).