Candy Capital and Modon Holding are set to collaborate on high-end projects in the Middle East, combining expertise in ultra-luxury real estate.

British billionaire Nick Candy announced a partnership between his company, Candy Capital, and Abu Dhabi-based property developer Modon Holding. The joint venture aims to create a portfolio of “extraordinary real estate developments” across high-end residential, commercial, and hospitality sectors.

The collaboration will leverage Candy Capital’s experience in ultra-luxury real estate alongside Modon’s operational capabilities and financial strength. Initially focused on the Middle East, the partnership envisions global expansion in the future.

Nick Candy highlighted their shared commitment to “growth, innovation, and excellence in the ultra-luxury sector,” expressing excitement about redefining luxury living on a global scale. However, in an interview with Bloomberg, he criticized some luxury developers in the region, suggesting that certain high-end properties fail to meet true luxury standards.

Nick Candy, known for his role in developing London’s iconic One Hyde Park alongside his brother Christian, previously listed his penthouse there for £175 million ($230 million), attracting interest from Middle Eastern buyers. Candy Capital has also worked on ultra-luxury projects in the UAE, including a collaboration with the Dubai World Trade Centre.

Jassem Al Zaabi, chairman of Modon Holding, described the partnership as a milestone for the company. “This collaboration marks another significant step for Modon as we join forces with a leader in luxury real estate,” he said.

Modon Holding, created in March through the merger of Q Holding, Modon Properties, and Adnec, aims to strengthen its market presence locally and internationally. Recently, Modon was appointed by Abu Dhabi-based ADQ to lead a $150 billion megaproject in Ras Al Hekma, Egypt, where the country will hold a 35% profit share.