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Dubai Holding signs Dh5 billion contract with CSCEC ME

The Government of Dubai Media Office announced that on 9 September 2026 Dubai Holding signed its largest ever construction contract — AED 5 billion — with China State Construction Engineering Corporation Middle East (CSCEC ME). The contract covers a new Dubai Holding headquarters designed by Skidmore, Owings & Merrill (SOM), opening in 2029, and Jumeirah Residences Emirates Towers — 754 branded residences across two towers, designed by SCDA Architects, developed by Meraas and operated by Jumeirah, with handover in 2030. The signing was witnessed by H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Holding. Here is what the deal is and what it means for UAE business and investors.

AM
Alexander MartsCo-founder, Garant Business Consultancy · UAE economy, visas and investment
6 min read
The Government of Dubai Media Office announced Dubai Holding’s largest ever construction contract — AED 5 billion — signed with China State Construction Engineering Corporation Middle East (CSCEC ME) on 9 September 2026: the award covers a new Dubai Holding headquarters designed by Skidmore, Owings & Merrill (SOM) with an opening in 2029 and Jumeirah Residences Emirates Towers — 754 branded residences across two towers designed by SCDA Architects, developed by Meraas and operated under the Jumeirah brand, with handover in 2030; the signing was witnessed by H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Holding.

Common questions on this topic

What is CSCEC ME, and why this contractor?

CSCEC ME is the Middle East arm of China State Construction Engineering Corporation, one of the world’s largest construction and investment groups by market capitalisation and portfolio. It has been active in the UAE since 2003; over that period, per Dubai Media Office, it has delivered more than 110 large-scale projects across the Gulf — residential, commercial, hospitality and infrastructure. For Dubai Holding this is not a “new partner” but a proven contractor with a local team, established supply chain and a track record with UAE regulation. Awarding it the Group’s largest ever contract (AED 5 billion) is a signal that Dubai Holding is optimising for controlled execution risk rather than the lowest bid.

What exactly is being built: only an office or residential as well?

The contract covers two assets in the Emirates Towers precinct. First, Dubai Holding’s new headquarters, designed by Skidmore, Owings & Merrill (SOM), opening in 2029. The building will feature a distinctive circular form organised around a central open-air atrium and landscaped courtyard, with expansive terraces; it targets leading international sustainability and wellbeing standards. Second, Jumeirah Residences Emirates Towers — 754 branded residences across two towers, designed by SCDA Architects, developed by Meraas and operated under the Jumeirah brand, with handover in 2030. Both sit within the same single CSCEC ME contract.

What are “branded residences” and how do they differ from ordinary apartments?

Branded residences are a residential format where the building is constructed and serviced under the name and operating standards of a well-known brand (here, Jumeirah). The buyer gets not only the apartment but access to operator-run services: concierge, housekeeping, spa and wellness, and a consistent standard of façade and common-area maintenance. For an investor, this usually means a higher ticket per unit — but more stable rental yield and slower “ageing” of the asset, because the operator maintains service quality across the building’s life. Dubai is one of the global leaders by number of projects in this format.

What does the deal mean for someone choosing a Dubai office right now?

Three practical takeaways. First, the Emirates Towers / DIFC strip will be “in construction” for several more years and first-strip rents are likely to keep drifting up. Those who can absorb the premium have a window to lock in a top-tier address before 2029. Second, it makes sense to look at the wider Sheikh Zayed Road corridor: One Central, Business Bay, Downtown, ICD Brookfield Place — all working Grade A alternatives. Third, moving into a new Grade A office, especially for an international company, is a project-level effort — from licence and structure to bank and corporate tax. The end-to-end process is covered in our guide on <a href="/en/business-setup/kak-otkryt-kompaniyu-v-oae-poshagovo/">how to open a company in the UAE step by step</a>.

What does the deal say about Dubai’s economy?

Dubai Holding’s largest contract ever — AED 5 billion — has been signed not at a cyclical peak, but at a time when Dubai developers (in their IPS 2026 statements) are pivoting from “peak sales” to a “selective market.” It confirms the base view: capital-intensive Dubai projects are being carried by long-horizon strategies of large sovereign-linked holdings (Dubai Holding, Emaar, Nakheel, ADQ, Mubadala), where 2029–2030 delivery is a norm. Key quote from H.H. Sheikh Ahmed bin Saeed: the investment “reflects the same long-term ambition: to keep setting new standards for what a global city can achieve.” Full macro context — in our <a href="/en/economy/economy-oae-2026-outlook/">UAE economy 2026 outlook</a>.

H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Holding, witnessed the signing of an AED 5 billion construction contract between Dubai Holding and China State Construction Engineering Corporation Middle East (CSCEC ME). This is the single largest construction award in Dubai Holding’s history: CSCEC ME will deliver the Group’s new headquarters, scheduled to open in 2029, and Jumeirah Residences Emirates Towers — 754 branded residences across two towers, with handover in 2030. Here is what the deal is and why it matters for businesses and investors in the UAE.

What happened

On 9 September 2026, the Government of Dubai Media Office announced the signing of an AED 5 billion contract between Dubai Holding and CSCEC ME. Dubai Holding calls it the Group’s largest ever single construction award. The signing was witnessed by H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Holding, together with H.E. Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, and H.E. Ou Boqian, Consul General of the People’s Republic of China in Dubai and the Northern Emirates. The contract itself was signed by Amit Kaushal (Group CEO, Dubai Holding) and Tian Sanchuan (Chairman, CSCEC ME).

The award covers two assets: Dubai Holding’s new headquarters (opening in 2029) and Jumeirah Residences Emirates Towers, a Meraas residential development of 754 branded residences across two towers with handover in 2030. Both projects sit in the Emirates Towers precinct on Sheikh Zayed Road — one of Dubai’s most recognisable business clusters.

The new HQ: what and where

The architect is Skidmore, Owings & Merrill (SOM), the global practice behind many of the world’s most recognisable corporate buildings. Dubai Holding says the building will be defined by a distinctive circular form, organised around a central open-air atrium and landscaped courtyard, with expansive terraces designed to encourage collaboration. The stated ambition is to meet leading international sustainability and wellbeing standards while supporting a lower-carbon future — and to build “a future-focused environment” for the Group’s people.

The location — the Emirates Towers precinct — is one of Dubai’s most established office clusters, right next to DIFC, Jumeirah Emirates Towers hotel and the government sector. A corporate HQ of this scale reinforces the district’s standing as prime commercial address and puts additional pressure on Grade A rents in the same strip.

Jumeirah Residences Emirates Towers: the residential side

The second asset — Jumeirah Residences Emirates Towers — will also be delivered by CSCEC ME, but for a different Dubai Holding entity: Meraas. It comprises 754 units across two towers, designed by SCDA Architects, operated under the Jumeirah brand. Handover is scheduled for 2030.

The scheme joins the Jumeirah Residences platform — a branded-residences line built around Jumeirah’s hospitality DNA: access to brand-standard service, “arabian hospitality”, and a curated set of lifestyle, wellness and leisure amenities. Branded residences are one of the fastest-growing segments of Dubai’s real estate, with buyers paying a premium for operational quality and rental predictability. What that premium translates into for yields — we cover in a separate guide on Dubai property ROI.

Who the parties are

Dubai Holding is Dubai’s sovereign investment holding, chaired by H.H. Sheikh Ahmed bin Saeed Al Maktoum. On its own numbers, the Group’s assets and projects enable economic activity equivalent to around 30% of Dubai’s GDP. Portfolio companies include Meraas, Jumeirah Group, Dubai Properties, Nakheel (Dubai Holding Real Estate) and other real estate, hospitality and commerce operators.

CSCEC ME is the regional arm of China State Construction Engineering Corporation, one of the world’s largest construction and investment groups. It has operated in the UAE since 2003 and, per Dubai Media Office, has delivered more than 110 large-scale projects across the Gulf — residential, commercial, hospitality and infrastructure. In the words of Tian Sanchuan (Chairman, CSCEC ME), the deal reflects “the mutual trust and confidence between our two organisations” and “the resilience and strength of Dubai’s economy.” H.H. Sheikh Ahmed bin Saeed added the award reflects “the same long-term ambition: to keep setting new standards for what a global city can achieve.”

What it means for UAE business and investors

First — a signal for the Sheikh Zayed Road office market. Emirates Towers and adjacent DIFC have long been Dubai’s benchmark for prime offices, but effectively a “limited pool.” Another HQ of Dubai Holding’s calibre cements the cluster and pushes already-high rents in the first strip. Companies planning a Grade A move in Dubai should factor in that the precinct will be “in construction” until 2029, with status upgrading afterwards. For those making a location decision now, it makes sense to look at the wider strip — DIFC / Emirates Towers / One Central / Business Bay.

Second — a signal for residential investors. 754 branded residences is a sizeable new tranche of upper-tier Dubai supply. On one hand, it will pull nearby address prices up (demand for the “Emirates Towers postcode” rises); on the other, 2030 wave competition will be noticeable. How to model yields on a specific unit, branded residences included, — see our Dubai property ROI guide.

Third — a macro signal. The Group’s largest ever contract has been signed not at consensus-cycle heights, but during a period when Dubai developers are (per IPS 2026 statements) shifting from “peak sales” to “selective market.” It confirms the base-case view in our UAE economy 2026 outlook: capital-intensive projects in Dubai are being carried by long-horizon strategies of major sovereign-linked holdings, where 2029–2030 is the norm, not a risk.

Timelines and next steps

  • Dubai Holding HQ — opens in 2029. Architect Skidmore, Owings & Merrill (SOM); contractor CSCEC ME. Location: Emirates Towers, Sheikh Zayed Road.
  • Jumeirah Residences Emirates Towers — 754 units, two towers, SCDA Architects, Meraas developer, Jumeirah operator, handover 2030.
  • Official details come out through Dubai Government Media Office; commercial terms for the residential scheme and launch dates will be announced separately by Meraas.

This article is informational only and is not investment, tax or legal advice. Primary source — Government of Dubai Media Office press release, 9 September 2026. Additional confirmation — The National (business/property, 9 September 2026) and Gulf News (business/property, 9 September 2026). Commercial terms are subject to confirmation by Dubai Holding, Meraas and authorised agents; investment parameters — with your legal and tax adviser.

Topics:DubaiDubai HoldingCSCECEmirates TowersJumeirah ResidencesReal EstateInvestmentUAE Economy

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