MAG Group has signed a Memorandum of Understanding (MoU) with Chinese CITIC Limited, a key player in engineering, procurement, and construction (EPC), for the development of ‘Keturah Ardh’ worth $6 billion (AED 22 billion).
Spanning 18.47 million square feet, the project is located in the Al Rowaiyah First District of Dubai. Keturah Ardh is set to transform urban living by integrating art, wellness, and sustainability into every layer of its community design.
The signing ceremony united two financial powerhouses: MAG Group Holding, with a portfolio valued at $3 billion, ongoing sales worth $5 billion, and developments estimated at approximately $17 billion; and CITIC Limited, which manages total assets exceeding $1.67 trillion.
This partnership marks CITIC Limited’s first major entry into Dubai’s premium real estate sector, aligning with Dubai’s 2040 Urban Master Plan and strengthening the emirate’s position as a global hub for innovative real estate development.
Infrastructure works and full site mobilization are expected to be completed by Q2 and Q3 2025. Launched under the Keturah Ardh Couture Art brand, the initial phase will debut in Q4 2025. The second phase is expected in Q1 2026, with subsequent phases rolled out through to 2027. The project is expected to be completed within a two- to seven-year timeframe.
The development will offer plot sizes ranging from 50,000 to 200,000 square feet, and the site will include over 100,000 trees—aging between 20 and 2,200 years—brought together through an innovative ‘Life-Scaping’ approach, seamlessly weaving nature into the built environment.
Moafaq A. Al Gaddah Founder and Chairman – MAG Group Holding
“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 deliver exceptional value while setting new benchmarks for sustainable luxury developments in the UAE and beyond.”
Yang Jianqiang, Chairman of CITIC Limited, added that, “Our partnership with MAG Group Holding is built on a strategy of long-term value and genuine collaboration. By leveraging CITIC Limited’s wealth of expertise in advanced manufacturing, innovative materials, sustainable infrastructure, and real estate, we want to shape a destination that welcomes all generations and sets new benchmarks for sustainability in the region. This inaugural project in Dubai reflects our commitment to providing preliminary services to clients as a precursor to securing EPC contracts, using EPC contracts to drive related industry development.”
CITIC Limited will bring its exceptional expertise in delivering complex, large-scale projects. The company’s proven track record in infrastructure development and construction excellence will play a key role in achieving the ambitious vision of Keturah Ardh.
Keturah Ardh highlights MAG Group Holding’s commitment to creating holistic living environments that nurture both physical and emotional well-being.
The project has also obtained all necessary government no-objection certificates (NOCs) from key regulatory bodies, such as the Dubai Development Authority (DDA), Dubai Municipality, Dubai Electricity and Water Authority (DEWA), and Roads and Transport Authority (RTA).
The development is also looking forward to collaborate with leading architects, designers, fashion brands, and artists whose creative vision falls in line with the project’s forward-thinking ethos.
Furthermore, the project aims to secure prestigious certifications such as LEED for Neighbourhood Development (LEED ND) and the WELL Building Standard, highlighting Dubai’s commitment to sustainable and future-ready development.
