MAG GROUP and Citic Limited Sign MoU for USD 6 Billion “Keturah Ardh” Development in Dubai
CITIC Limited's total assets exceed USD 1.67 trillion
In a landmark move poised to significantly shape Dubai's luxury real estate landscape, MAG Group and CITICLimited, one of China's largest state-owned conglomerates, have announced the signing of a Memorandum ofUnderstanding (MoU) for the development of Keturah Ardh — a visionary USD 6 billion project spanning 18.47million square feet in the Al Rowaiyah First District of Dubai.The signing ceremony brought together two financial powerhouses: MAG Group Holding, with a portfoliovalued at USD 3 billion, ongoing sales worth USD 5 billion, and developments estimated at approximately USD17 billion; and CITIC Limited, which manages total assets exceeding USD 1.67 trillion. This collaboration,marking CITIC Limited's first major entry into ...
