Modon Holding PSC has announced a joint venture with Related Companies and Panepinto Properties to deliver Harborside 4, a 54-storey luxury residential tower on a prime waterfront site in downtown Jersey City. Modon will hold a majority equity stake in the project.

Designed by Handel Architects, Harborside 4 will comprise around 800 luxury rental apartments and condominiums, with completion targeted for Q1 2029. Approximately 75 per cent of the homes will be retained as rental units to generate recurring income, while the remaining 25 per cent will be offered for sale. Construction is scheduled to begin in Q1 2026.

The development will offer unobstructed views of the Manhattan skyline and feature lifestyle and hospitality amenities including a fitness club and concierge services. The site benefits from proximity to Manhattan via PATH rail services and ferry connections, with retail and dining options nearby. Construction financing will be provided by a consortium of banks led by J.P. Morgan.

H.E. Jassem Mohamed Bu Ataba Al Zaabi, Chairman of Modon Holding, said, “Harborside 4 is a natural progression in Modon’s global expansion, reflecting our commitment to investing in high-potential assets that create long-term value. Partnering with Related and Panepinto brings together institutions with the expertise and ambition to help shape vibrant, future-ready communities.”

Bill O’Regan, Group CEO of Modon Holding, said the project aligns with the company’s international growth strategy and focus on enhancing long-term recurring income through high-quality urban developments.

Bruce A. Beal Jr., President of Related Companies, said the waterfront location minutes from Manhattan presents an exceptional opportunity to create premium urban homes, while Joseph Panepinto Sr., Founder and CEO of Panepinto Properties, said the project supports the continued redevelopment of Jersey City’s waterfront into a leading residential and commercial destination.

Headquartered in Abu Dhabi and listed on the ADX, Modon operates across real estate, hospitality, asset management and tourism, with an international portfolio spanning Europe and the United States.