Modon Holding Forms Joint Venture With Related Companies and Panepinto Properties to Deliver Harborside 4, a Luxury Residential Tower Along the Waterfront in the Heart of Downtown Jersey City

ABU DHABI, United Arab Emirates, Dec 23 (Bernama) -- Modon Holding PSC (“Modon”) today announced a new joint venture to deliver Harborside 4, a 54-story residential tower on one of the last prime waterfront sites in downtown Jersey City, New Jersey, USA. Modon will hold a majority equity stake alongside leading US developer Related Companies and long-established Jersey City firm Panepinto Properties (the “Joint Venture”), marking a further milestone in the Group’s strategy to scale its diversified global portfolio.

Harborside 4, designed by Handel Architects, will bring 800 luxury rental apartments and condominiums to downtown Jersey City, with the building offering unobstructed views of the Manhattan skyline and premium lifestyle and hospitality amenities including a marquee fitness club and concierge services. The site is minutes from Manhattan via PATH cross-Hudson rail services and ferry connections, with retail, dining and community amenities on the doorstep, including a Whole Foods market across the street. The development scheme will feature approximately 75% of residential apartments being retained for rentals generating stable recurring income, with the remaining approximately 25% being marketed as condos for sale. Construction is set to begin in Q1 2026, with completion targeted in Q1 2029.