Dubai Holding awards US $1.36bn contract to CSCEC ME
The contract is said to represent the single largest that Dubai Holding has awarded to date
A US $1.36bn contract has been awarded by Dubai Holding to China State Construction Engineering Corporation Middle East (CSCEC ME) for the delivery of the group’s new headquarters and Jumeirah Residences Emirates Towers.
His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Holding, witnessed the signing. His Excellency Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs and Her Excellency Ou Boqian, Consul General of the People’s Republic of China in Dubai and the Northern Emirates, also attended the signing ceremony, alongside Amit Kaushal, Group Chief Executive Officer of Dubai Holding; Tian Sanchuan, Chairman of CSCEC ME and senior representatives from both organisations.
The contract is said to represent the single largest that Dubai Holding has awarded to date, reflecting the scale of capital the group continues to deploy into projects that support Dubai’s long-term growth.
“Dubai’s success has been built on a clear vision for the future, the confidence to invest with purpose and the discipline to turn ambition into progress. We continue to build from a position of strength, committing capital to assets that support economic growth and create value for our people, communities and future generations,” said His Highness Sheikh Ahmed.
He added, “For more than 2-decades, Dubai Holding has been an important contributor to the emirate’s transformation, enabling economic activity equivalent to 30% of Dubai’s GDP. This investment reflects the same long-term ambition: to keep setting new standards for what a global city can achieve, and to strengthen Dubai as a global hub for business, investment and talent.”
Poised to become one of Dubai’s most distinctive corporate landmarks, the new headquarters will bring the group’s businesses together in a workplace built around collaboration, sustainability and employee wellbeing, while opening a prime new address in one of the city’s most sought-after commercial locations. The building is scheduled to open in 2029.
The award will also advance the delivery of Jumeirah Residences Emirates Towers, comprising 754 branded residences across 2-towers in the same location, adding a striking new presence to the city’s luxury residential market, said the statement.
Designed by Skidmore, Owings & Merrill (SOM), Dubai Holding’s new headquarters is designed as a highly connected environment. Defined by its distinctive circular form, the office will be organised around a central open-air atrium and landscaped courtyard, with expansive terraces designed to encourage collaboration and the exchange of ideas, it added.
The statement highlighted that employee wellbeing, sustainability, and technology are central to the design. Reflecting the group’s commitment to sustainable development, the new headquarters has been designed to support resource efficiency, enhance the workplace experience and create a future-focused environment for Dubai Holding’s people, with ambitions to meet leading international sustainability and wellbeing standards while supporting a lower-carbon future.
Amit Kaushal, Group Chief Executive Officer of Dubai Holding added, “This commitment reflects the scale at which Dubai Holding continues to invest for the future. We have a clear strategy for growth and a disciplined approach to capital deployment, focused on strengthening our portfolio, advancing high-quality assets and creating sustainable long-term value for the group and the city.”
Kaushal continued, “Our new headquarters marks the next phase in our evolution. Built to world-class design principles, it sets a new benchmark for prime office space in Dubai and is designed for the people who will shape our future, today and in the years to come. Jumeirah Residences Emirates Towers carries the same ambition in another form, adding a residential landmark to one of Dubai’s most prominent districts and adding further strength to our real estate portfolio.”
Tian Sanchuan, Chairman of CSCEC ME remarked, “We are honoured to have been awarded these landmark projects by Dubai Holding, reflecting the mutual trust and confidence between our 2-organisations. CSCEC ME’s journey in Dubai has been made possible by its exceptional business environment, founded on openness, transparency, fairness and opportunity, and shaped by the visionary leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum. These landmark developments reflect the resilience and strength of Dubai’s economy and reinforce our confidence in its continued growth. We remain committed to Dubai and are proud to contribute to the development of this remarkable city and its ambitious future.”
CSCEC ME confirmed that it will also deliver Jumeirah Residences Emirates Towers, which is billed as a flagship residential development by Meraas.
Designed by SCDA Architects, the development will combine contemporary architecture with Jumeirah’s renowned Arabian hospitality and service expertise, alongside a curated collection of lifestyle, wellness and leisure experiences. This development will benefit from direct connectivity to some of the most prominent business, cultural and lifestyle destinations in Dubai. Handover is scheduled for 2030, the statement outlined.
