Aldar Properties and Expo City Dubai have announced a strategic partnership to develop a major mixed-use project valued at $480 million near Al Maktoum International Airport and the Dubai Exhibition Center.

The buildings will be next to the Dubai Exhibition Center, currently undergoing a $2.7 billion expansion. This expansion will increase its exhibition space from 58,000 square meters to 180,000 square meters by 2031, making it the region’s largest indoor exhibition and events venue.

The six-building development is part of Expo City Dubai’s ambitious master plan to transform the area into a premier business and lifestyle destination. The project will encompass residential, office, and retail spaces totaling 103,000 square meters.

Aldar and Expo City Dubai have established a 50-50 joint venture to deliver and own the development, with Aldar also responsible for managing the assets upon completion.

Reem Al Hashimy, UAE Minister of State for International Cooperation and CEO of Expo City Dubai Authority, described the project as the first of many collaborative ventures that leverage Aldar’s expertise in real estate delivery.

The partnership aligns with companies’ commitment to sustainability and smart urban living. The master plan envisions a people-centric city with green spaces, enhanced mobility, and balanced urban development, supporting both entities’ net-zero commitments.

The area already hosts major enterprises, including Terminus Group, Siemens Industrial, Siemens Energy, and Emirates Group’s aviation innovation hub, Ebdaa. Additionally, DP World has announced plans to relocate its global headquarters to Expo City, creating further opportunities for businesses and investors in the rapidly expanding Dubai South area.