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Modon Holding PSC has formed a joint venture with related companies and Panepinto Properties for the development of Harborside 4. The company has acquired a majority equity stake in the project, securing a controlling interest. Construction is expected to commence in Q1 2026, with completion targeted for Q1 2029. Financing for the development will be provided by a consortium of banks led by J.P. Morgan. The project reflects Modon's continued focus on long-term real estate developments backed by structured financing and strategic partnerships.
Modon Holding PSC has entered into a joint venture with related companies and Panepinto Properties to develop Harborside 4, strengthening its position in large-scale real estate development. As part of the arrangement, Modon has acquired a majority equity stake in the Harborside 4 project, giving it management control and a leading role in execution. Advertisement
The development is planned as a multi-year project, with construction scheduled to begin in Q1 2026. Completion is targeted for Q1 2029, indicating a long-term investment horizon and phased construction strategy. To support the project, a consortium of banks led by J.P. Morgan is set to provide construction financing for the development scheme.
Modon Holding has been expanding its real estate portfolio through partnerships and majority-led developments in recent years, focusing on mixed-use and waterfront-led projects. The Harborside 4 initiative aligns with this approach, combining local market expertise with external partners to manage scale, funding, and delivery timelines effectively.
Source Reuters
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