MAG Group and CITIC Limited Sign Landmark AED 22 Billion MoU for "Keturah Ardh" Luxury Development in Dubai
In a groundbreaking move set to redefine Dubai’s luxury real estate landscape, MAG Group Holding and CITIC Limited, one of China’s largest state-owned conglomerates, have signed a Memorandum of Understanding (MoU) for the development of Keturah Ardh—a visionary AED 22 billion (USD 6 billion) real estate project in the Al Rowaiyah First District of Dubai.
The project, spanning 18.47 million square feet, marks CITIC Limited’s first major foray into Dubai’s premium property market. With total assets exceeding USD 1.67 trillion, CITIC brings its global expertise in engineering, procurement, and construction (EPC) to a city that is fast emerging as a global hub for innovative and sustainable urban development.
MAG Group Holding, whose portfolio is valued at USD 3 billion with ongoing sales of USD 5 billion and developments worth USD 17 billion, is leading the charge in aligning with Dubai’s 2040 Urban Master Plan. The collaboration aims to create a benchmark for sustainable, luxury living in the region.
Project Timeline & Vision
Infrastructure works and full site mobilisation are slated for completion by Q2 and Q3 of 2025, with the first phase launching under the "Keturah Ardh Couture Art" brand in Q4 2025. The second phase will follow in Q1 2026, with the entire project expected to be completed within two to seven years.
Plot sizes will range between 50,000 and 200,000 square feet, and the site will be adorned with more than 100,000 trees, some aged up to 2,200 years. The design embraces an innovative ‘Life-Scaping’ philosophy, integrating nature into the built environment to improve air quality, emotional well-being, and urban sustainability.
Leadership Perspectives
Speaking at the signing ceremony, Moafaq A. Al Gaddah, Founder and Chairman of MAG Group Holding, remarked:
“Keturah Ardh exemplifies what the future of living in Dubai should look like. Our aim is to create a place where people feel deeply connected to their surroundings, with nature and community embedded into daily life. This partnership with CITIC Limited represents a powerful alliance that will set new benchmarks for sustainable luxury developments in the UAE and beyond.”
Yang Jianqiang, Chairman of CITIC Limited, added:
“Our partnership with MAG Group Holding is built on a strategy of long-term value and genuine collaboration. With CITIC’s deep expertise in sustainable infrastructure, advanced manufacturing, and real estate, we aim to shape a destination that sets new standards for future-ready, multigenerational living.”
Sustainable Development & Global Standards
The project has already secured all required No-Objection Certificates (NOCs) from Dubai’s key regulatory authorities, including Dubai Development Authority (DDA), Dubai Municipality, DEWA, and RTA. It is also pursuing globally recognized sustainability certifications, such as LEED for Neighborhood Development (LEED ND) and the WELL Building Standard.
MAG Group and CITIC are inviting collaborations with world-renowned architects, fashion designers, and artists to bring bold, creative visions to life, further enhancing the cultural and aesthetic appeal of the development.
With its blend of art, wellness, sustainability, and luxury, Keturah Ardh is set to become a defining chapter in Dubai’s urban evolution.
