Real Estate & Construction
ICD’s portfolio companies in the real estate and construction sector continue to shoulder the responsibilities of developing a variety of modern, fit for purpose, residential and commercial architectural marvels.
Ithra Dubai, a real estate arm of ICD, was established to develop and manage strategic real estate assets. The aim of Dubai’s Deira Enrichment Project undertaken by Ithra Dubai is to revitalise Dubai’s original community centre and trading hub using a modern approach to its design and functionality while preserving Deira’s unique charm and entrepreneurial spirit.
Brand names such as EMAAR and ALEC are redefining real estate and construction benchmarks globally and regionally. Emaar’s Burj Khalifa and the Dubai Mall are two of the most recognised and visited sites in the world today.
The portfolio also consists of Dubai Airport Free Zone, a dynamic business hub located at the very heart of global trade, and Dubai Silicon Oasis, an integrated free zone technology park that allows people to live, work, and play. These world-class free zones have attracted some of the most successful corporations to base their regional headquarters in the Emirate of Dubai, reinforcing Dubai’s status as a pivotal hub in the global economy.
Effective 1 January 2022, pursuant to the Government of Dubai’s law no. (16) of 2021, Dubai Airport Free Zone and Dubai Silicon Oasis is transferred to a newly established Authority, Dubai Integrated Economic Zones Authority (“DIEZ”), which is wholly owned by ICD.