The Mag Group and Citic Limited signed a memorandum of understanding (MOU) for the development of Keturah Ardh, an AED 22 billion ($ 6 billion) in the first district of Dubai.
Progress will flow 18.47 million square feet and represents the first citic entry limited Real Estate sector in Dubai.
Mugh Goup Holding is given a porfoloo worth $ 3 billion, with a continuous sale worth $ 5 billion and improvements approximately $ 17 billion. Citic is limited to handling total assets over $ 1.67 trillion.
The new Dubai district
Maafaq A. Al Gaddah, Foundman of Group Choup Holging, says: “Going to a place that is related to people who have many benefits of life. UAE and beyond.”
The project shares with Dubai’s Plan 2040 Urban Master and complete the infrastructure acts and achieve full-riding site by Q2 and Q3 2025.
The first round will launch under the Keturah Ardh Couture Art brand at Q4 2025, followed by the second round of Q157, with the project expected within two to seven years timeframes.
The plot sizes from 50,000 to 200,000 square feet. The site has more than 100,000 trees between 20 and 2,200 years by a ‘life-scaping’ method involving the quality of established quality and emotional well-being.
Yang Jianqiang, Chairman of the Citic Limited, adds: “Our interactions of advance in a healing area shows our commitment to introduce EPC contracts to drive related industry in the industry.”
Citic Limited works as one of the largest EPC contractors in the world with surgery in over 160 countries. The company has brought skill to the development of infrastructure and project building.
Progress will mix art, health, and maintenance of community design. The group holds the objectives to make the surroundings in the environments of the physical and emotional well-being.
Keturah Ardh has secured government no-objection Certificates from the Dubai Development Authority (DDA), Dubai Municipality, Dubai Electricity and Water Authority (Dewa), and Roads and Transport Authority (RTA).
The project invites collaboration with architects, designers, fashion brands, and artists whose creative view prompts ethos in progress.
Progress intends to LEED for the development of the neighborhood (LEED ND) and good standard standard certifications of international environmental standards.
