BI Group Signs MOU with CITIC for Three Dubai Developments in Meydan Horizon
BI Group has signed a Memorandum of Understanding (MOU) with CITIC Middle East Contracting LLC, the UAE subsidiary of China’s CITIC Construction Co., Ltd., to collaborate on three upcoming real estate developments in Dubai’s Meydan Horizon district.
The agreement establishes a framework for CITIC’s proposed appointment as the main contractor for all three projects, with the collaboration extending to early-stage technical planning, design coordination, cost optimisation and construction preparation.
The partnership aims to improve coordination between design and execution, identify potential efficiencies before construction begins and support quality standards and timely project delivery.
CITIC to Provide Technical and Construction Planning Support
Under the MOU, CITIC will work with BI Group’s development teams to provide technical support, value engineering, cost optimisation and construction coordination.
By involving the proposed contractor during the design and planning stages, the companies intend to identify potential construction challenges early, improve project coordination and make informed decisions before work begins on site.
The approach is also expected to help manage construction costs, maintain quality standards and support efficient delivery timelines across the three developments.
Further details, including project specifications and construction schedules, have yet to be announced.
BI Group Highlights Importance of Early Collaboration
Ruslan Yembergenov, CEO of BI Group UAE, said selecting the right construction partners is an important part of the company’s expansion in Dubai.
He said involving CITIC during the design and planning stages would allow BI Group to draw on its international technical expertise, make more informed decisions and establish a strong foundation for project delivery.
Yembergenov added that the company aims to ensure each development meets its quality and efficiency standards as it expands its operations in the UAE.
CITIC Brings International Construction Experience
CITIC Middle East Contracting operates as part of CITIC Construction Co., Ltd., which is a subsidiary of CITIC Group, one of China’s largest state-owned conglomerates.
CITIC Construction has an international portfolio spanning residential developments, commercial buildings, infrastructure and major engineering projects.
Its projects include Beijing National Stadium, widely known as the Bird’s Nest, which was built for the 2008 Olympic Games, as well as large-scale residential developments in Angola.
The company’s international construction experience is expected to support the technical and planning requirements of BI Group’s proposed Dubai developments.
Three Projects Planned for Meydan Horizon
The MOU marks a further step in BI Group’s development activities in Dubai, bringing together the developer’s project pipeline and CITIC’s international construction capabilities.
All three developments covered by the agreement will be located in Meydan Horizon. Project specifications, construction timelines and other details are expected to be announced at a later stage.
The collaboration establishes an early framework for the projects, with CITIC’s appointment as main contractor remaining proposed under the agreement.
