Dubai South, on May 19th 2026, entered into an agreement with Majid Al Futtaim, to develop a landmark AED 62 billion( $17 billion), mixed-use master community spanning 22 million square feet within Dubai South.
The agreement was signed by Nabil Alkindi, Group CEO of Dubai South, and Ahmed Galal Ismail, CEO of Majid Al Futtaim Holding at Dubai South HQ. HE Khalifa Alzaffin, Executive Chairman of Dubai Aviation City Corporation and Dubai South, and Fadel Abdulbaqi Al Ali, Chairman of Majid Al Futtaim Holding, were present during the signing.
The newly announced master-planned development will cover 22 million square feet and will include a diverse mix of residential, retail and lifestyle offerings, designed specifically for the growing population within Dubai South and the surrounding areas. A major shopping mall will anchor the project and is expected to become its main attraction, a major retail, entertainment and lifestyle destination for residents and visitors alike.
The development is strategically located in close proximity to Al Maktoum International Airport, which is set to be the world’s largest airport upon its completion. The first phase of the airport will be operational by 2032, according to a statement issued by Khalifa Al Zaffin, Executive Chairman of Dubai Aviation City Corporation. This upcoming project will benefit from seamless connectivity to key highways and major transport corridors, and is planned to be within close proximity to Dubai’s major economic and logistics hubs.
Commenting, Nabil Alkindi said: “Dubai continues to prove the resilience and strength of its economy through strategic developments which solidify its standing as a global destination for investment, business and quality living. “This partnership with Majid Al Futtaim is a major step forward in the continuing development of Dubai South, in line with the Dubai Economic Agenda D33 and the strategic long-term vision of our wise leadership to create integrated, future-ready communities that foster sustainable economic and urban growth.
“This agreement underlines Majid Al Futtaim’s long-term confidence in Dubai’s growth and our commitment to creating destinations that deliver lasting economic value,” said Ahmed Galal Ismail. Dubai South is the next big chapter in the city's development and we are proud to be shaping our next mixed-use community in such a vibrant and strategically important location. Dubai remains at the forefront of resilience and ambition, and our partnership with Dubai South is a strategic investment in the future of the emirate, helping to create its next economic hub through an integrated destination that combines retail, entertainment, hospitality and residential experiences in one of Dubai's fastest growing urban centres.'
Majid Al Futtaim is a leading developer with the highest credit rating (BBB) among privately held companies in the region.Majid Al Futtaim owns 29 shopping malls, including the flagship Mall of the Emirates, Mall of Egypt, and Mall of Oman, as well as the iconic City Centre destinations.
The master development is a major milestone in the continued development of Dubai South and further cements the area’s status as one of Dubai’s most strategically located urban destinations, supported by world-class infrastructure, connectivity and long-term development planning.Dubai South spans around 145 square kilometres and is state-backed, and focuses on aviation, logistics and real estate.
The project is expected to contribute significantly to Dubai’s retail, tourism, residential and commercial sectors, while supporting the wider economic agenda of the emirate and its vision for sustainable development.
