- The partnership aims to deliver next-generation luxury residential and commercial projects, reinforcing Dubai’s status as a global real estate hub.
- Senior leadership from both companies gathered for the landmark signing ceremony.
- The new collaboration targets premium real estate projects spanning over 10 million square feet in built-up area and exceeding AED 10.5 billion in gross development value.
- The portfolio will comprise high-value residential and commercial development across popular communities including Business Bay, Meydan Horizon, Motor City, Dubai Islands, Dubai South, and Jumeirah Village Circle.
Dubai, June 23, 2025: Centurion Properties, one of Dubai’s premier real estate developers, has signed a Memorandum of Understanding (MoU) with CITIC Construction, a globally recognised engineering and construction giant and a wholly owned subsidiary of the CITIC Group, headquartered in China with an asset base of USD 1.7 trillion. This strategic agreement marks a significant milestone in promoting bilateral cooperation to deliver large-scale, premium real estate developments across the city, with constructions planned to commence from Q3 2025.
The signing ceremony featured a showcase dedicated to Centurion Properties’ evolutionary journey since its formation in 2013, highlighting major milestones and the successful launch of landmark projects, such as Capital One, Flora Isle, and Sola Residences, which have set new benchmarks for urban living and commercial excellence in Dubai. The MoU was signed between Joby George (CEO, Centurion Properties) and Li Sheng (General Manager of Middle East, CITIC Construction) in the presence of senior leadership from both companies.
Through this strategic partnership, Centurion Properties aims to develop over 10 million square feet of built-up area, with a gross development value of AED 10.5 billion. The impressive portfolio will comprise luxury residential developments and high-end commercial projects across highly sought-after communities, including Business Bay, Meydan Horizon, Motor City, Dubai Islands, Dubai South, and Jumeirah Village Circle (JVC)—all meticulously selected for their strong growth potential and long-term investment appeal.
Speaking at the signing, Mr. Joby George, CEO of Centurion Properties, stated, “Our collaboration with CITIC Construction signals a transformative step to bridge local expertise with global construction prowess. This partnership is set to drive innovation and elevate design standards, focusing on high-end living and modern infrastructure in Dubai. We are dedicated to crafting intricate designs that offer a truly luxurious experience, meeting the needs of today’s discerning customer and setting new benchmarks for quality in one of the world’s most dynamic markets.”
Mr Yang Jianqiang, Chairman of CITIC Construction, added, “As a proven and trusted global contractor, CITIC Construction sees immense opportunity in Dubai’s thriving real estate landscape. This alliance with Centurion Properties is a strategic step in expanding our footprint in a key global investment hub. We are confident that our combined strengths will produce exceptional value and landmark projects that endure over time.
This collaboration is rooted in a shared vision to not only build iconic structures but also to create vibrant, thriving communities. Centurion Properties is on a mission to transform urban landscapes by crafting sophisticated, modern spaces that are driven by intricate designs and continue to redefine high-end, luxurious living across the region. By pioneering innovation and delivering unparalleled quality, the partnership is poised to shape the future of luxury living in Dubai, ensuring that each development offers a unique and enduring legacy for generations to come.
About Centurion Properties
Established in 2013, Centurion Properties stands as a beacon of innovation in real estate development, transforming urban landscapes into vibrant spaces where people can live, work, and thrive. As industry pioneers at the forefront of innovation, Centurion crafts modern, sophisticated spaces that set new benchmarks for elegance and exclusivity. Renowned for their commitment to intricate design and high-end living, Centurion Properties transforms urban environments into vibrant communities where residents can truly flourish. With every project, the company delivers unique and luxurious experiences that meet the needs of today and anticipate the desires of tomorrow’s discerning clientele, setting the gold standard for luxury living in Dubai’s ever-evolving skyline.
About CITIC Construction
CITIC Construction Co., Ltd., a wholly owned subsidiary of CITIC Group, is a globally recognised EPC contractor ranked among ENR’s Top 250 International Contractors. With operations spanning over a dozen countries, including Algeria, Brazil, Kazakhstan, South Africa, and Russia, the company delivers end-to-end infrastructure solutions — from feasibility studies and financing to construction and operations — with a focus on sustainable industrial development. Backed by CITIC Group’s diversified sectors in finance, energy, and real estate, CITIC Construction offers integrated, value-added services that drive long-term impact. Certified with ISO 9001, ISO 14001, and OHSAS 18001 and holding Class-A+ general contracting and Class-A engineering design qualifications, the company is committed to pioneering innovation, excellence, and partnership on a global scale.