UAE GIANTS EMAAR, ALDAR JOIN HANDS

Master developers launch Dh30B JV to build iconic projects in UAE and abroad

dubai — UAE real estate developers Emaar and Aldar have joined hands to develop Dh30 billion worth of world-class iconic and lifestyle projects in the UAE and abroad which will transform the UAE’s skyline, strengthen its status as a global tourist destination and improve its competitiveness.

Initially, the master developers will co-develop Emaar Beachfront, a private island in Dubai, and the mixed-use Saadiyat Grove in Abu Dhabi. These two projects will house nearly 9,400 residential units, hotels, museums, retail, and leisure and entertainment facilities.

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, and His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, attended the signing of the joint venture on Tuesday.

“We want our companies to be at the forefront of our development and collaborate with each other to explore creative ideas for strengthening the UAE’s leadership, and enhancing the happiness and quality of life of our people,” Sheikh Mohammed said.

We are happy to witness the signing of this partnership, which will contribute to our development journey and help enhance the UAE’s position as a tourism destination of choice Sheikh Mohammed bin Rashid

This partnership aims to create new opportunities for investment growth, and identify innovative projects that can enhance the UAE’s leadership and competitiveness Sheikh Mohamed bin Zayed