Dubai Holding Awards Record $1.36 Billion Contract to CSCEC

DUBAI, UAE: Dubai Holding has awarded China State Construction Engineering Corporation Middle East (CSCEC ME) a $1.36 billion (AED5 billion) construction contract to deliver its new headquarters and Jumeirah Residences Emirates Towers.

The contract is the largest single construction award in Dubai Holding’s history and covers two major developments in one of Dubai’s most established commercial districts.

Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Holding, witnessed the signing of the contract.

New Dubai Holding Headquarters to Open in 2029

Dubai Holding’s new headquarters is scheduled to open in 2029 and will bring the group’s businesses together within a new corporate workplace focused on collaboration, sustainability and employee wellbeing.

The project will establish a new office address within a central Dubai location and forms part of the group’s continued investment in assets supporting the emirate’s long-term growth.

Sheikh Ahmed said: “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.

"For more than two 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.”

SOM Designs Circular Headquarters

The headquarters has been designed by Skidmore, Owings & Merrill (SOM), the international architecture, engineering and urban planning practice.

Defined by a distinctive circular form, the building will be organized around a central open-air atrium and landscaped courtyard, with expansive terraces intended to encourage collaboration and interaction.

Employee wellbeing, sustainability and technology are central to the design. The headquarters is being developed to support resource efficiency and a lower-carbon future, with ambitions to meet leading international sustainability and wellbeing standards.

Amit Kaushal, Group Chief Executive Officer of Dubai Holding, said: “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.

"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.”

Jumeirah Residences Emirates Towers to Add 754 Homes

The contract will also advance construction of Jumeirah Residences Emirates Towers, a branded residential development by Meraas comprising 754 residences across two towers.

Designed by SCDA Architects, the project will combine contemporary architecture with Jumeirah’s hospitality and service offering, alongside lifestyle, wellness and leisure facilities.

The development will have direct connectivity to major business, cultural and lifestyle destinations in Dubai, with handover scheduled for 2030.

Tian Sanchuan, Chairman of CSCEC ME, said: “We are honoured to have been awarded these landmark projects by Dubai Holding, reflecting the mutual trust and confidence between our two 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 Expands Dubai Portfolio

The signing ceremony was also attended by Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs; Ou Boqian, Consul General of China in Dubai and the Northern Emirates; Amit Kaushal, Group Chief Executive Officer of Dubai Holding; Tian Sanchuan, Chairman of CSCEC ME; and senior representatives from both organizations.

CSCEC ME has operated in the UAE since 2003 and has delivered more than 110 large-scale projects across the Gulf, spanning residential, commercial, hospitality and infrastructure.

The company is supported by its parent, China State Construction Engineering Corporation, one of the world’s largest construction and investment groups.