Sheikh Ahmed bin Rashid Al Maktoum: The Legacy Behind Jebel Ali Racecourse, and a Founding Chapter of Modern Dubai Real Estate
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Dubai declared a 10-day mourning period on Monday following the passing of Sheikh Ahmed bin Rashid Al Maktoum at the age of 76, flags flown at half-mast across the emirate. Beyond his roles in security and sport, his business legacy includes some of the city's earliest and most foundational real estate developments.
In Memoriam
Sheikh Ahmed bin Rashid Al Maktoum: The Legacy Behind Jebel Ali Racecourse, and a Founding Chapter of Modern Dubai Real Estate
Dubai declared a 10-day mourning period on Monday following the passing of Sheikh Ahmed bin Rashid Al Maktoum at the age of 76, flags flown at half-mast across the emirate. Beyond his roles in security and sport, his business legacy includes some of the city's earliest and most foundational real estate developments.
DUBAI · MONDAY, SEPTEMBER 21, 2026
Sheikh Ahmed bin Rashid Al Maktoum, fourth and youngest son of the late Sheikh Rashid bin Saeed Al Maktoum, and youngest brother of Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, passed away on September 21, 2026, at the age of 76.
A Life of Public Service and Enterprise
Sheikh Ahmed served as Deputy Chairman of Dubai Police and Public Security. A graduate of the Royal Military Academy Sandhurst in the UK, he joined Dubai's Central Military Command before becoming its Commander-in-Chief. He was also President of Al Wasl Sports Club, an association that began in the early 1960s when the club was known as Al Zamalek, and one he continued to chair for decades.
In horse racing, he specified the technical design of Jebel Ali Racecourse alongside trainer Dhruba Selvaratnam, with the track and grandstand completed in 1990 and the first racing season held in 1991. As an owner, his record stands at 614 wins from 4,475 runs, a strike rate of 13.7 per cent, and his patronage extended to international races run under his name, including at the Curragh Racecourse in Ireland.
Real Estate Legacy
A Founding Chapter of Modern Dubai Development
On the business side, Sheikh Ahmed chaired A.R.M. Holding, a private investment firm whose portfolio has spanned real estate, hospitality and banking, and more recently extended into healthtech, sustainable food, mobility, fintech and cultural initiatives. Within real estate specifically, the group's portfolio includes three main brands: Dubai Real Estate Centre, which manages more than 3,200 residential and commercial units; Huna, a developer working at the intersection of architecture, culture and commerce; and Hive Coliv, a flexible co-living operator.
It is Dubai Real Estate Centre's early projects, founded in 1991 under his patronage, that place Sheikh Ahmed among the figures who shaped the city's built environment in its formative decades.
1991
Dubai Real Estate Centre foundedThe beginning of a portfolio that would go on to manage thousands of residential and commercial units across the emirate.
1993
The Beach CentreThe first mall built on Jumeirah's beach road.
1995
Dubai Creek TowerThe first landmark at Deira Creek, and the second-tallest building in Dubai at the time of its completion.
Al Sufouh
Palm Spring VillageDubai's first gated community, comprising 145 villas.
Each of these projects predates the skyline Dubai is known for today, and each represents a category the city had not yet built for itself, its first beachfront mall, its first gated residential community, an early skyline landmark on the Creek. That timing matters: these developments were shaping expectations for what Dubai real estate could be well before the city's larger transformation took hold.
In Remembrance
Sheikh Ahmed bin Rashid Al Maktoum's contributions spanned public security, sport and enterprise, but within real estate specifically, his legacy is written into some of the city's earliest landmark developments. Dubai's mourning period reflects the breadth of a life that helped shape the emirate across several of its defining institutions, and for the real estate community in particular, a founding chapter of the industry as it exists today.
This piece is based on publicly reported information following the announcement of Sheikh Ahmed bin Rashid Al Maktoum's passing on September 21, 2026, drawing on official statements and publicly available company and organisational records.
About the author
Sheraz Khan
Associate Partner
Sheraz Khan stands among the leading real estate professionals in the UAE, known for his strong market insight, trusted client relationships, and proven results. Repeatedly recognized by Emaar and DAMAC at their annual awards, he has built a reputation for excellence at the highest level of the industry.
Sheraz Khan stands among the leading real estate professionals in the UAE, known for his strong market insight, trusted client relationships, and proven results. Repeatedly recognized by Emaar and DAMAC at their annual awards, he has built a reputation for excellence at the highest level of the industry.
