MAG Group And CITIC Limited Collaborate On USD 6 Billion Keturah Ardh Luxury Development In Dubai

In a significant development for Dubai's real estate market, MAG Group and CITIC Limited, have inked a Memorandum of Understanding (MoU) to develop the groundbreaking Keturah Ardh project.

This $6 billion venture is set to transform 18.47 million square feet of the Al Rowaiyah First District into a luxury real estate haven.

The collaboration between MAG Group Holding and CITIC Limited combines the strengths of both entities. MAG Group, with assets and developments valued in the billions, and CITIC Limited, managing assets over $1.67 trillion, marks CITIC's grand entrance into Dubai's high-end property segment. This partnership signals a new era in the luxury real estate domain in Dubai.

The project's ambitious timeline aims for the completion of infrastructure and the commencement of site work between the second and third quarters of 2025.

The initial phase, branded as Keturah Ardh Couture Art, is slated for launch in the last quarter of 2025. Following phases will be introduced sequentially, leading up to the project's full completion targeted between 2025 and 2027.

Keturah Ardh stands out not only for its scale but also for its commitment to sustainability and community. The development will include plots varying from 50,000 to 200,000 square feet, surrounded by over 100,000 trees, some of which are centuries old.

This 'Life-Scaping' concept integrates nature into the living experience, aiming to foster a deep connection between residents and their environment.

Moafaq A. Al Gaddah, the Founder and Chairman of MAG Group Holding, stated, “Keturah Ardh exemplifies what the future of living in Dubai should look like. Our aim is to create a place where people feel deeply connected to their surroundings, with nature and community embedded into daily life.”

Yang Jianqiang, the Chairman of CITIC Limited, emphasized the collaborative nature of the partnership, stating, “Our partnership with MAG Group Holding is built on a strategy of long-term value and genuine collaboration. By leveraging CITIC Limited's wealth of expertise in advanced manufacturing, innovative materials, sustainable infrastructure, and real estate, we want to shape a destination that welcomes all generations and sets new benchmarks for sustainability in the region.”

Aligning with global environmental standards, Keturah Ardh is pursuing certifications such as LEED ND and the WELL Building Standard. These efforts highlight Dubai's dedication to eco-friendly and future-oriented developments.

The project aims not only to meet current sustainability goals but also to set new standards in environmentally conscious construction and living spaces.

This ambitious project, backed by the expertise and resources of MAG Group and CITIC Limited, is poised to create a unique living experience that bridges the gap between nature and modern luxury. Its completion will mark a significant milestone in Dubai's journey towards sustainable and high-quality urban development.