Al Seeb awards $200 million main contract for The Chedi Private Residences

Dubai, UAE, 24 July 2026 - Al Seeb Real Estate Development has awarded the main contract to build The Chedi Private Residences, a $200 million tower on Sheikh Zayed Road and the first standalone residences to carry The Chedi name. Mahesh J. Kalwani, Vice Chairman of Al Seeb, and Zeeshan Haidar, Managing Director of Ancient Builders Constructions (ABC), signed the contract in Dubai today. Enabling works are already under way, and the appointment takes the tower into main construction.

The tower will stand about 250 metres over 53 storeys. Inside are 117 homes across roughly 1.25 million square feet: villas, duplexes and mansions. Al Seeb is developing the residences under licence with Chedi Hospitality, which will operate them under The Chedi brand. Homes come with swimming pools and landscaped wellness decks, and run on smart home and building management systems built to international WELL and sustainability standards.

Piling, shoring and excavation are running now. With ABC appointed, the tower moves into main construction. MBM Gulf Electromechanical is the project’s MEP contractor, and Model Engineering Consultants is the Lead Engineering Consultant & Architect of Record.

“We took our time to line up the right team rather than rush into the ground,” said Mahesh J. Kalwani, Vice Chairman of Al Seeb Real Estate Development. “The Chedi name sets an expectation, and this tower has to meet it on every floor. The contract is signed, the site is live, and now we build to it.”

“A branded residence is won or lost in the detail, in the concrete as much as the finishes,” said Zeeshan Haidar, Managing Director of Ancient Builders Constructions. “Our crews are already on site. We build it to carry the name, or we don’t put our own on it.”

Al Seeb expects to complete the 117-home tower in the first quarter of 2029.

The Chedi Private Residences

Above a landscaped podium, the tower reads as a slim glass volume against the Sheikh Zayed Road skyline. Inside is a limited collection of villas in the sky, from two-bedroom homes to an eight-bedroom triplex, the Pinnacle Mansion, that crowns the building. Living rooms open behind 3.2-metre floor-to-ceiling glass, and sky gardens reach five metres towards the skyline. Kitchens are by the Italian house Pedini, with Miele appliances; bathrooms carry Gessi fittings. Every home is handed over fully fitted, branded and serviced, and sold freehold.

Service is the whole point of a Chedi, and it runs through three social levels. The Resort level is built around a 60-metre lagoon pool, with a spa, a health club, private padel courts, a 250-metre jogging track and an owners’ cinema. The Sky level is adults-only: an infinity pool and deck, a sky bar and lounge, an omakase counter and a walk-in cigar humidor. A Chedi Navigator concierge handles the day to day, from the arrival lobby to housekeeping.

The location carries the asset. Sheikh Zayed Road is a minute away, Emirates Golf Club and the beaches about five, Dubai Marina and Mall of the Emirates around six, Palm Jumeirah and the Burj Al Arab about ten, and the airport twenty. Plots on this stretch rarely come free, and almost none arrive with a hospitality name attached.

What does the award mean to the buyers?

For a buyer, the contract moves the question from whether the tower will be built to how quickly. ABC runs a 5,000-strong team and now holds the main package. Purchase funds sit in a Dubai Islamic Bank escrow account. Handover is set for the first quarter of 2029. Sheikh Zayed Road has no shortage of towers announced with a name and a render. This one is being built, not just sold.