Modon Enters Jersey City with Harborside 4 Joint Venture

Abu Dhabi, United Arab Emirates :

Modon Holding PSC (“Modon”) has announced the formation of a strategic joint venture with leading U.S. developer Related Companies and long-established local firm Panepinto Properties to deliver Harborside 4, a landmark 54-story luxury residential tower located on one of the final prime waterfront parcels in downtown Jersey City, New Jersey.

Under the terms of the agreement, Modon will acquire a majority equity stake in the development, reinforcing its commitment to expanding a diversified global real estate portfolio through high-quality assets and strong international partnerships. The joint venture represents a significant milestone in Modon’s global growth strategy and marks its latest investment in a major U.S. urban market.

Designed by internationally renowned Handel Architects, Harborside 4 will deliver approximately 800 high-end rental apartments and condominiums, offering residents sweeping, unobstructed views of the Manhattan skyline. The tower will feature a premium mix of lifestyle and hospitality amenities, including a signature fitness club, concierge services, and curated communal spaces that support modern urban living.

Located just minutes from Manhattan, the development benefits from direct access to PATH rail services and ferry connections, as well as immediate proximity to retail, dining, and community amenities, including a Whole Foods Market directly across the street. Approximately 75% of the residential units will be retained as rental apartments, generating long-term, stable recurring income, while the remaining 25% will be marketed as condominiums for sale.

Construction is scheduled to commence in Q1 2026, with project completion targeted for Q1 2029. Development oversight will be jointly managed by the partners, with Related Companies leading development execution, construction management, leasing, and operations. Related brings over five decades of integrated development expertise, with $70 billion in assets under management and more than $20 billion in construction delivered over the past decade.

Panepinto Properties, a cornerstone of Jersey City’s transformation since 1977, contributes deep local expertise, having delivered over 17 million square feet of development across the city. Construction financing for Harborside 4 will be provided by a consortium of banks led by J.P. Morgan.

Commenting on the announcement, H.E. Jassem Mohamed Bu Ataba Al Zaabi, Chairman of Modon Holding, said the project reflects Modon’s ambition to invest in high-potential international assets that generate long-term value while shaping future-ready communities in global gateway cities.

Bill O’Regan, Group CEO of Modon Holding, highlighted that Harborside 4 aligns strongly with Modon’s international expansion strategy, enhancing recurring income streams while leveraging best-in-class partners with proven delivery capabilities.

Representatives from Related Companies and Panepinto Properties emphasized the project’s unique waterfront location, proximity to Manhattan, and its role in the continued evolution of Jersey City into a premier residential and commercial destination.

Headquartered in Abu Dhabi and listed on the Abu Dhabi Securities Exchange (ADX), Modon operates across real estate, hospitality, asset management, investments, events, and tourism. Its growing international portfolio includes major developments in London, Spain, and the United States, alongside hotels, resorts, sports facilities, and globally recognized exhibition venues such as ADNEC Centre Abu Dhabi and ExCeL London.