Emaar Properties preparing projects in important cities of China
Dubai-based developer Emaar Properties is discussing potential projects in Chinese key state companies and key cities in Asia’s largest economy.
The company is evaluating projects in many cities and cities, such as Hinan, Jiangsu, Chongqing, Guangdong, Beijing and Shanghai, according to a statement released by the Industrial and Commercial Bank at the stage of the 2nd Round Table of Archway and Road Bankers.
Emaar has signed a Memorandum of Understanding (MoU) with ICBC Dubai (DIFC) branch and Emirates NBD to explore tripartite co-operation. Collaboration will involve joint research of urban developments and the creation of high quality life communities in China.
“This collaboration signals that Emaar is very seriously eyeing entering into the real estate market of China and leveraging its long experience in building key projects and attractions,” the statement said.
He added that Emaar is currently in talks with several state-owned companies.
“Emaar, Emirates NBD, and ICBC share a common vision for establishing more collaboration between China and UAE. This MoU opens up a new spectrum of opportunity to bring Emaar’s iconic project and premium lifestyle to China and to achieve a win-win situation for China and the UAE,” it said.
In December, Emaar said it has begun commercial development activities in China in order to promote Dubai as an investment target and to increase tourism. Emaar said the design and equipment of two offices in Beijing and Shanghai, commissioned by a team from China, has started.
The two showrooms will be used to promote the UAE as an investment target focused on property, training and health services.
Source: Arabian Business
Melike Vodina / realesatecoulisse.com