Jersey city: 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.

According to BERNAMA News Agency, Harborside 4, designed by Handel Architects, will bring 800 luxury rental apartments and condominiums to downtown Jersey City. The building will offer unobstructed views of the Manhattan skyline and premium lifestyle and hospitality amenities, including a marquee fitness club and concierge services. The site is conveniently located minutes from Manhattan via PATH cross-Hudson rail services and ferry connections, with retail, dining, and community amenities nearby, including a Whole Foods market across the street.

The development plan includes approximately 75% of residential apartments being retained for rentals, generating stable recurring income, while the remaining approximately 25% will be marketed as condos for sale. Construction is set to begin in Q1 2026, with completion targeted for Q1 2029.