Dubai-based multinational conglomerate MAG Group and CITIC Limited, a Chinese state-owned conglomerate, have entered into a memorandum of understanding (MOU) to develop the $6bn Keturah Ardh project in Dubai, United Arab Emirates.
MAG Group Holding, which boasts a portfolio of $3bn and ongoing sales of $5bn, is set to work alongside CITIC, a company managing assets worth more than $1.67trn.
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Encompassing 18.47 million square feet in Dubai’s Al Rowaiyah First District, this project marks CITIC’s first significant venture into Dubai’s real-estate sector.
The project’s timeline indicates that infrastructure works and site mobilisation will be completed by the second and third quarters (Q2-Q3) of 2025, respectively.
The first phase, under the Keturah Ardh Couture Art brand, is scheduled to debut in Q4 2025. The second phase will follow in Q1 2026, with additional phases continuing through to 2027. The entire project is set for completion between two to seven years.
The Keturah Ardh development will offer plots ranging from 50,000ft² to 200,000ft² and feature over 100,000 trees of various ages, some as old as 2,200 years, as part of the ‘Life-Scaping’ approach.
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By GlobalDataFocusing on sustainability and environmental standards, the development is aiming for certifications such as Leadership in Energy and Environmental Design for Neighborhood Development (LEED ND) and the WELL Building Standard.
MAG Group Holding founder and chair Moafaq A Al Gaddah said: “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.”
CITIC chair Yang Jianqiang said: “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.”
In February 2025, AD Ports announced MAG Group Holding as the primary developer for the first phase of Marsa Zayed, a beachfront resort and residential community located along the Red Sea in Aqaba, Jordan.
