Dubai South and Majid Al Futtaim to Build Dh62 Billion Mixed-Use Community
Dubai South and Majid Al Futtaim have announced a Dh62 billion mixed-use master community. The project will cover 22 million square feet and include residential, retail, and lifestyle units. It aims to establish a new economic hub near Al Maktoum International Airport.
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Major Development Announcement
Dubai South and Majid Al Futtaim on Tuesday announced the launch of a Dh62-billion new mixed-use master community.
Located near Al Maktoum International Airport in Dubai South, the community will span 22 million square feet, featuring a diverse range of residential, retail, and lifestyle units.
The project will be anchored by a large shopping mall.
Strategic Importance of Dubai South
A large number of developers are focusing on the Dubai South area ahead of the opening of Al Maktoum International Airport, which will be the world’s largest airport upon completion.
“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,” said Nabil Al Kindi, Group CEO of Dubai South.
Commitment to Growth
Ahmed Galal Ismail, CEO of Majid Al Futtaim Holding, stated that the development underscores the company’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.
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 said.
Dubai South is one of Dubai’s largest master-planned urban developments, spanning 145 square kilometres and centred around Al Maktoum International Airport, which is set to become the world’s largest airport upon completion.
With owned assets valued at $20 billion, Majid Al Futtaim has the highest credit rating (BBB) among privately held companies in the region.
