Modon and Candy Capital Announce Strategic Joint Venture in Uber-Luxury Real Estate Sector
Modon Holding PSC (ADX: MODON) and Candy Capital have announced a strategic joint venture aimed at redefining the ultra-luxury real estate landscape in the UAE, the Middle East, and beyond. This partnership seeks to establish new benchmarks in design, quality, and luxury living through world-class real estate developments.
The joint venture will focus on developing a portfolio of exceptional projects, including high-end residential, commercial, and hospitality properties. These developments will be located in key markets across the Middle East, with plans for future expansion into other major global cities.
The collaboration leverages Candy Capital’s creative vision and expertise in ultra-luxury real estate alongside Modon’s strong development capabilities, operational experience, and financial backing. Together, the two entities aim to create landmark projects that will set new standards in the global luxury property market.
Statements from Leadership
H.E. Jassem Mohammed Bu Ataba Al Zaabi, Chairman of Modon Holding, stated: “We are excited to announce our strategic partnership with Candy Capital. This collaboration marks another milestone for Modon, as we join forces with a leader in luxury real estate.”
Nick Candy, CEO of Candy Capital, added: “This partnership reflects a shared long-term vision for growth, innovation, and excellence in the ultra-luxury sector. We look forward to creating iconic developments with Modon that will redefine luxury living on a global scale.”
Bill O’Regan, Group CEO of Modon, emphasized the joint venture’s commitment to innovation and sustainability, saying: “Together, we are committed to creating unparalleled living experiences that blend innovation, sustainability, and elegance. This partnership will set new standards in the luxury real estate market.”
About Modon Holding
Modon, headquartered in Abu Dhabi, is one of the UAE's largest real estate developers, known for creating iconic living, leisure, and business experiences. Following its merger with Q Holding, Modon Properties, and ADNEC in March 2024, Modon has significantly expanded its market presence. As of June 30, 2024, Modon reported a market capitalization of AED 45.94 billion, reflecting a 114% year-on-year growth.
