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State-backed Abu Dhabi and Dubai developers launch new $8.2B joint venture

State-backed Abu Dhabi and Dubai developers launch new $8.2B joint venture

Two of the United Arab Emirates’ most prolific developers, Emaar Properties and Aldar Properties, are teaming up. Through a recently-announced $8.2 billion joint venture the developers will spearhead two mixed-use waterfront projects — one in Dubai, one in Abu Dhabi — with a combined total of almost 10,000 residential units, according to Reuters. Details of other projects were not released. Dubai-based Emaar and Abu Dhabi-based Aldar both are linked to their respective ruling governments; the […]


Source: realdeal

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