Centurion Properties and CITIC Construction Forge AED 10.5 Billion Partnership to Elevate Dubai’s Real Estate Market
In a landmark move set to reshape the city’s urban landscape, Centurion Properties has signed a Memorandum of Understanding (MoU) with global construction powerhouse CITIC Construction, marking the launch of a large-scale real estate collaboration in Dubai valued at AED 10.5 billion.
The strategic alliance aims to develop over 10 million square feet of premium residential and commercial space across high-growth communities such as Business Bay, Meydan Horizon, Motor City, Dubai Islands, Dubai South, and Jumeirah Village Circle (JVC). Construction of these projects is scheduled to begin in Q3 2025.
A Visionary Partnership for Iconic Developments
The MoU was signed by Joby George, CEO of Centurion Properties, and Li Sheng, General Manager of CITIC Construction Middle East, in the presence of senior leadership from both companies. The ceremony also included a retrospective of Centurion’s growth since its inception in 2013, spotlighting standout projects such as Capital One, Flora Isle, and Sola Residences.
“Our collaboration with CITIC Construction signals a transformative step to bridge local expertise with global construction prowess,” said Joby George, CEO of Centurion Properties. “Together, we aim to redefine design excellence and raise the bar for luxury real estate in Dubai.”
CITIC Construction, a wholly owned subsidiary of China’s CITIC Group, brings a strong track record and global experience to the partnership. With an asset base of USD 1.7 trillion, the company is poised to deliver best-in-class engineering and project execution in one of the world’s most dynamic property markets.
“This alliance is a strategic step in expanding our footprint in Dubai,” said Yang Jianqiang, Chairman of CITIC Construction. “We see immense potential in the UAE market and are confident this collaboration will deliver long-term value and iconic developments.”
Focus on Innovation, Design, and Community
The joint portfolio will focus on creating next-generation luxury spaces that cater to discerning investors and residents seeking high-end amenities, future-proof infrastructure, and strategic locations. Each development will emphasize sustainability, design sophistication, and community integration — aligning with Dubai’s long-term vision as a leading global real estate hub.
With demand for premium real estate rising, this collaboration is set to contribute significantly to the city’s transformation, offering not just iconic buildings, but vibrant, livable communities that reflect the evolving needs of modern urban living.
