Dubai Real Estate: China’s Citic Enters Market with MAG Group in Dh22 Billion Luxury Project

Dubai : In a landmark move, China’s state-owned engineering giant Citic Ltd. is making its debut in Dubai’s high-end property sector through a strategic partnership with MAG Group, a prominent local real estate developer with a robust portfolio of luxury projects.

The joint venture will bring to life ‘Keturah Ardh’, a mega-development valued at Dh22 billion ($6 billion), sprawling across 18.47 million square feet in the Al Rowaiyah First District in Dubailand.

Plot sizes within Keturah Ardh will vary between 50,000 and 200,000 square feet, with the site being transformed into a nature-integrated urban retreat featuring over 100,000 trees—some aged between 20 to 2,200 years—as part of a distinctive ‘life-scaping’ philosophy.

This venture marries MAG’s deep-rooted experience in Dubai’s luxury property market with Citic’s vast engineering capabilities. MAG was one of the early pioneers of Dubai’s freehold property boom in the mid-2000s and has since positioned itself in the premium and ultra-luxury residential sector under its ‘Keturah’ brand.

Citic, with global assets exceeding $1.67 trillion, brings significant financial and engineering strength to the project.

The development will roll out in multiple phases:

• Phase One, under the Keturah Ardh Couture Art brand, is scheduled to launch in Q4 2025.
• Phase Two is expected in Q1 2026, with further phases extending into 2027.
• Full completion is anticipated within a two- to seven-year timeline.

Speaking on the occasion, Moafaq Al Gaddah, Chairman of MAG Group, stated:

“Keturah Ardh exemplifies what the future of living in Dubai should look like. Our vision is to create a community where residents feel a profound connection to their environment—where nature and social wellbeing are woven into everyday life.

This partnership with Citic represents a powerful alliance that not only enhances value but also sets a new standard for sustainable luxury living in the UAE and beyond.”

The Keturah Ardh project marks a significant step in the evolution of Dubai’s real estate market, bringing together global expertise and local vision to redefine urban luxury.