Majid Al Futtaim to build AED 62 bn mega-community in Dubai South

Dubai South is getting its next mega-development, this time from UAE conglomerate Majid Al Futtaim, according to a press release. The developer has signed on to build an AED 62 bn mixed-use community inside Dubai South.

The details: The 22 mn sq ft project will include residential, retail, entertainment, and lifestyle assets aimed at the growing population clustering around Dubai’s expanding logistics and aviation corridor. The site sits near what’s set to become the world’s largest airport, Al Maktoum International Airport.

BACKGROUND- Dubai South’s expansion gathered pace after the government approved the AED 128 bn expansion of Al Maktoum International Airport in 2024, a project designed to lift the airport’s ultimate capacity to 260 mn passengers annually. The airport sits at the center of the wider Dubai South master development, which spans roughly 145 sq km.

The freezone has been steadily expanding after it handed over 800 residential units last year. Another 1.3k units are set for delivery this year. The zone is also proving popular with players like DHL and UPS, which inked agreements to expand in the area. Overall, 653 new firms set up shop in Dubai South last year.

The real estate megaprojects keep coming: Just in the past week, Aldar said it was planning on rolling out 20 mn sqm worth of residential and mixed-use developments in Abu Dhabi as part of a broader housing push, while Brookfield and Alshaya said they’re working on a 480k sq ft mixed-use development in Dubai Hills.