Last updated: May 28, 2025 | 08:39
Dubai: One of China’s biggest engineering companies – Citic Ltd. – is making an entry into Dubai’s luxury real estate market through a venture with MAG Group, which already has multiple high-end projects in the city.
The two will joint build ‘Keturah Ardh’, a Dh22 billion ($6 billion) project with aan 18.47 million square feet spread within the Al Rowaiyah First District in Dubailand.
Plot sizes at Keturah Ardh will range from 50,000- to 200,000 square feet. The site will also feature more than 100,000 trees— ‘aging between 20- and 2,200 years’—brought together through a ‘life-scaping’ approach.
MAG and Citic both bring lots to the table in terms of projects built and the elements that have gone into them. MAG was among the first private developers to get started with the first Dubai freehold boom in the mid-2000s and in recent years has pushed its way into the premium and super-premium residential space.
‘Keturah’ is MAG’s luxury branded portfolio.
As for Citic, it has assets of over $1.67 trillion.
For the new project, the first phase – launched under the Keturah Ardh Couture Art brand – will launch in Q4-2025.
The second phase is expected in Q1-2026, and subsequent phases rolled out through to 2027. The project is expected to be completed within a two- to seven-year timeframe.
Moafaq A. Al Gaddah, Chairman of MAG Group Holding with Yang Jianqiang, Chairman of Citic Ltd., are ready to get cracking on the Dh20 billion luxury project in Dubai.
According to Moafaq Al Gaddah, Chairman of MAG Group, “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.
“This partnership with Citic represents a powerful alliance that will deliver exceptional value while setting new benchmarks for sustainable luxury developments in the UAE and beyond.”
