Dubai, UAE, 14 May 2026: Cushman & Wakefield Core has advised on the AED 1.125 billion (USD 304 million) forward purchase of one of the largest mixed-use transaction in the UAE in 2026 and a record-setting acquisition within Studio City, an off-market transaction between SRG and ALDAR.
The mixed-use development comprises six residential buildings and a community mall, totaling 312 apartments and 39 retail units, with completion scheduled for May 2028.
The development represents one of the UAE’s earliest large-scale multi-family housing schemes - a model in which multiple residential buildings are retained under single ownership to generate long-term, stabilised income. While this approach is common in more mature global markets, it remains relatively rare in the UAE, where developers typically pursue strata sales.
The transaction was signed amid heightened geopolitical uncertainty across the region. Its completion reflects continued institutional confidence in the UAE, supported by the country's strong sovereign fundamentals, stable policy environment, and the decisive economic leadership that has consistently underpinned investor sentiment across market cycles.
Designed by UAE-based Loci Architecture & Design, the development is a pedestrian-orientated community centered around a series of shaded plazas and landscaped courtyards, with a nature-inspired public park connecting the retail and residential buildings and offering open access to trails, sports facilities, playgrounds, and green space. The community mall is designed as a walkable neighbourhood centre where restaurants and cafes will spill onto generous plazas overlooking the park, while natural daylight and airy courtyards define the interior. The six residential buildings frame a private central garden with a lagoon pool, lounge areas, and recreational amenities, while residences range from duplex townhouses with private gardens to rooftop penthouses with views across both parks.
Cushman & Wakefield Core represented SRG as the seller and developer in structuring and executing the transaction, which was undertaken entirely off-market.
Commenting on the deal, SRG Leadership:
"This development brings a purpose-built multi-family and retail offering that is still uncommon in the UAE, and securing a long-term institutional owner reinforces its quality and potential.
"Having operated in this market for close to 45 years, we have seen cycles come and go; global crises, regional uncertainty, and market corrections. What has remained constant throughout is the quality of governance and the consistency of vision at a federal level. The UAE government has demonstrated, time and again, an ability to anticipate change and respond with clarity, whether through economic policy, infrastructure investment, or regulatory frameworks. Global uncertainty has, if anything, focused attention on markets with truly strong fundamentals, and the UAE is one of very few that can offer that with confidence.
"We believe the UAE will continue to see strong occupier demand, with a maturing investor base and a leadership that has turned a young nation into one of the world's most trusted investment destinations in a single generation. Completing a transaction of this size in the current environment is a reflection of all of that. We thank Cushman & Wakefield Core for their guidance and execution throughout the process."
Commenting on the deal, David Abood, Co-CEO, Cushman & Wakefield Core:
“This is a landmark transaction for Dubai, and a strong signal of how the market is maturing. Purpose-built multi-family developments are commonplace in more established global markets but still rare in the UAE, where strata-sale models dominate. This Development by SRG, which has a track record for delivering quality in the UAE, is an institutional-grade asset, designed from day one for long-term institutional ownership, reflecting a clear shift towards products built for long-term investment rather than individual unit sale.
“The fact that this deal was concluded in the current environment is itself a statement. Institutional capital of this calibre commits where it has long-term confidence, and the UAE continues to earn that confidence through strong leadership and a clear, stable economic direction. We’re proud to have supported SRG in bringing this forward-thinking development to market.”
