Select Group completes $1.9 billion sale of Peninsula development project in Business Bay

Select Group announced the completion of the off-plan sale of its Peninsula master community project at Business Bay, Dubai, which achieved a gross construction value (GDV) of AED 7 billion.
This announcement follows the recent successful transaction for the sale of a Class A office tower under the project, which the company calls a “key milestone” demonstrating investor confidence in both the project and Select Group.

The Peninsula covers an area of 3.3 million square feet on the waterfront and combines residential, commercial, commercial and lifestyle amenities in a waterfront destination.
Sale of Select Group on Peninsula reaches milestone

The development includes 3,300 units across seven properties, with Jumeirah Living Business Bay representing the most premium offering.

This 35-storey tower, created in partnership with Jumeirah Group, offers 82 residences ranging in size from 2,007 to more than 12,000 m2.

Residents of Jumeirah Living Business Bay will be provided with concierge services, guest liaison team, on-site residence management, security, housekeeping, butler service and a resident lounge.

Select Group began the process of handing properties over to investors earlier this year with Peninsula Five's project, The Signature Collection. The handover of Peninsula One is scheduled for early July 2025, with Peninsula Two and Peninsula Three to follow in Q4 2025.

Jumeirah Living Business Bay is planned for Q1 2026, while Peninsula Four The Plaza for mid-2026.

The community includes 122,800 square feet of retail space, including a 66,000-square-foot shopping center, and a 217,000-square-foot Class A office tower with 80,000 square feet of leasable space.

The project also includes green spaces and leisure facilities within a pedestrian-friendly design.
Several retail brands, including Spinneys, Yas Healthcare, Freedom Pizza and Half Cup, have confirmed their presence, and other retail and food businesses are in talks to join the community.

The project includes The Plaza, a 17,000-square-foot waterfront marketplace on two floors, including a 6,000-square-foot terrace overlooking the Dubai Canal.

“The completion of the Peninsula sale is a proud milestone for Select Group and a testament to our unwavering commitment to creating exceptional, well-integrated communities. Peninsula was designed to redefine waterfront living in the heart of Dubai, and the response of our investors and buyers confirms the strength of our vision and confidence in our brand,” said Israr Liaqat, Group Chief Executive Officer.

The Select Group says it will continue to focus on “shaping the future of urban housing” through developments and investments guided by “innovation, quality and long-term value.”

Source: Arabic Business

‍