Dubai Holding and Palantir launch Aither: A joint venture to lead AI transformation
- Aither, Palantir's first joint venture in the UAE, will drive AI-powered transformation across Dubai's public and private sectors
- As the first enterprise AI company established in Dubai, Aither combines Palantir's cutting-edge technology with Dubai Holding's deep local insight and operational expertise
- Already delivering measurable results across Dubai Holding's portfolio - from real estate and hospitality to finance and infrastructure - Aither supports the objectives of the Dubai Economic Agenda D33
- Partnership reflects Dubai's leadership in deploying secure, sovereign & high-impact AI applications that deliver tangible business value
Dubai Holding, a diversified global investment company with investments in more than 30 countries, and Palantir Technologies, a global leader in operational artificial intelligence platforms, have announced a strategic agreement to establish a joint venture (JV) - Palantir's first in the UAE - named Aither. The partnership formalises 18 months of operational collaboration that has already delivered measurable transformation across Dubai Holding's portfolio, and will now scale these proven AI capabilities to strategic commercial sectors across the UAE.
In the presence of His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Holding and His Excellency Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, the signing ceremony took place on 31 October in Dubai between Amit Kaushal, Group Chief Executive Officer of Dubai Holding, and Noam Perski, Executive Vice President at Palantir.
18 months of operational success
Since early 2024, Dubai Holding has deployed Palantir's AI and data integration platforms across its diverse operations, achieving greater efficiency, faster decision-making and improved data visibility - results that set this partnership apart from aspirational AI initiatives. The collaboration has enhanced performance across sectors including real estate, hospitality, finance and infrastructure, supporting leading brands such as Nakheel, Meraas and Jumeirah.
Institutionalising AI excellence
Aither will serve as a national platform to accelerate AI adoption across Dubai's priority industries, enabling both government and private-sector organisations to realise transformation at scale. By combining Dubai Holding's market expertise with Palantir's world-class software and engineering capabilities, Aither institutionalises enterprise-grade AI locally to enhance operational efficiency, strengthen competitiveness and unlock new sources of value creation.
The joint venture will directly contribute to the UAE's national digital ecosystem and support the Dubai Economic Agenda (D33), which aims to generate AED 100 billion annually through digital transformation initiatives. By providing local businesses with access to AI solutions that have demonstrated measurable impact across one of the region's most diversified portfolios, Aither helps accelerate the nation's ambition to establish global leadership in applied AI.
In parallel, Aither will localise the economic value of Palantir's technologies, transferring knowledge to develop national talent and establish governance frameworks designed to guide AI implementation across the commercial landscape locally.
Aither operates with a clear mandate to serve strategic commercial sectors in full alignment with the national digital transformation strategy and economic diversification goals.
Amit Kaushal, Group Chief Executive Officer of Dubai Holding, said: "This strategic joint venture with Palantir represents a transformative catalyst in Dubai's AI evolution and a significant milestone in Dubai Holding's own digital transformation journey. It underscores our commitment to harnessing the power of AI to drive operational excellence, unlock new avenues of growth and ensure the long-term resilience of our businesses. As one of the region's most diversified investment groups, AI plays an increasingly central role across our portfolio, enabling meaningful efficiencies and smarter, faster decision-making.
Through Aither, we are establishing a platform to extend these capabilities to the wider market - enabling businesses to access world-class AI solutions made in Dubai. This will help advance Dubai's digital ambitions, equipping the emirate with cutting-edge tools and capabilities to accelerate economic diversification, fuel innovation across priority sectors and strengthen the UAE's position as a leader in the global digital economy."
"Palantir's mission is to equip our friends and allies with the tools they need to win," said Alex Karp, co-founder and CEO of Palantir Technologies. "We are proud to partner with Dubai Holding to deploy Palantir's world-class AI capabilities and further bolster Dubai's position as a global innovation hub."
Disclaimer
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements may relate to, but are not limited to, Palantir's expectations regarding the amount and the terms of our contracts and the expected benefits of our software platforms. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Forward-looking statements are based on information available at the time those statements are made and were based on current expectations as well as the beliefs and assumptions of management as of that time with respect to future events. These statements are subject to risks and uncertainties, many of which involve factors or circumstances that are beyond our control. These risks and uncertainties include our ability to meet the unique needs of our customer; the failure of our platforms to satisfy our customer or perform as desired; the frequency or severity of any software and implementation errors; our platforms' reliability; and our customer's ability to modify or terminate their contract. Additional information regarding these and other risks and uncertainties is included in the filings we make with the Securities and Exchange Commission from time to time. Except as required by law, we do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments, or otherwise.
About Dubai Holding
Dubai Holding is a diversified global investment company with investments in more than 30 countries and a combined workforce of more than 45,000 people. Established in 2004, Dubai Holding touches the lives of millions of Dubai residents and visitors through its extensive portfolio of over AED 280 billion worth of assets that support the diversification and sustainable growth of Dubai's economy across 10 key sectors: real estate, hospitality, leisure & entertainment, media, ICT, design, education, retail, manufacturing & logistics and science.
Our portfolio includes:
- Dubai Holding Real Estate, one of the largest integrated master developers in Dubai, combining the long-standing expertise of Meraas, Nakheel, Meydan and Dubai Properties. Its portfolio offers innovative residential real estate solutions across property development, project management, facilities and district management;
- Dubai Holding Asset Management, which comprises Dubai Retail, a world-class portfolio of over 40 malls, lifestyle destinations and retail centres, in addition to being the majority strategic shareholder in Dubai Residential REIT, the GCC's largest and first pure-play residential leasing REIT, as well as TECOM Group PJSC, which consists of 10 business destinations catering to six vital knowledge-based economic sectors;
- Dubai Holding Hospitality, which owns and manages 53 hotels as well as top-notch hospitality brands, including Dubai Holding's flagship hospitality brand and global luxury hotel company Jumeirah, which manages a portfolio of 31 world-class properties. Dubai Holding Hospitality's portfolio also comprises a diverse collection of unique award-winning F&B concepts.
- Dubai Holding Entertainment, the largest and most diversified media, leisure and entertainment company in the region, which comprises leading parks and attractions such as Global Village, Ain Dubai, Dubai Parks and Resorts and The View Palm Jumeirah; and media and entertainment venues such as Roxy Cinemas, Coca-Cola Arena and ARN;
- Dubai Holding Investments, a dedicated investment arm responsible for the Group's investment strategy and managing a diverse portfolio of strategic and financial investments across public and private markets in the UAE and internationally to drive diversification for the Group and seek attractive risk-adjusted returns. It has investments in Emirates NBD, Warsan Waste Management Centre, Du, Azadea and Nord Anglia, as well as joint ventures and partnerships with Brookfield, Emaar, Aldar, Tabreed and others;
- Dubai Holding Land Estates, which is dedicated to optimising and future-proofing the management of the Group's extensive land bank and supporting its commitment to sustainable urban development and economic diversification in alignment with the Dubai 2040 Urban Master Plan; and
- Dubai Holding Community Management, an integrated, customer-centric company that focuses on creating and managing sustainable and vibrant communities. It is committed to fostering a sense of belonging and connectivity amongst its 1.2 million residents living in 53 master communities.
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About Palantir Technologies
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Ben Mascall
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