Developer also plans to expand its premium luxury hotel and serviced residences brand to China
Coinciding with the visit of President Xi Jinping of China to the UAE, Emaar has announced that it will develop the Middle East’s largest Chinatown in Dubai. The project will take shape within the retail district of the developer’s Dubai Creek Harbour megaproject.
According to a statement, the retail precinct will occupy a central location within Dubai Creek Harbour. As part of its outreach to China, Emaar also said that it will open three dedicated pavilions in China – Beijing, Shanghai and Guangzhou. The three offices will promote tourism, education, trading and investment between UAE and China.
Additionally, Emaar plans to expand its premium luxury hotel and serviced residences brand (Address Hotels + Resorts) to China. Discussions are said to be underway to develop and operate Address branded hotels in key cities in China in line with the ‘appeal and familiarity that the brand enjoys among Chinese tourists’.
“The visit of Chinese President Xi Jinping to the UAE is historic and will further strengthen UAE-China relations, underpinned by initiatives such as the UAE-China Week announced by Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai. The UAE and China share strong bilateral trade and cultural relations, which are bolstered by the presence of over 200,000 Chinese citizens who live in the UAE and the hundreds of thousands of Chinese visitors that the nation welcomes annually. The development of the new Chinese retail and lifestyle district at Dubai Creek Harbour – as well as Emaar’s expansion into China, both in property and hospitality – highlight our commitment to the country, and our focus on contributing to the strength and success of UAE-China relations,” said Mohamed Alabbar, chairman of Emaar Properties.
In its statement, Emaar pointed out that its expansion to China complements the ‘One Belt, One Road’ initiative announced by President Xi Jinping, in which the UAE will have a significant part to play, in addition to benefiting from an intensive development programme. Management consulting firm McKinsey estimates that the ‘One Belt One Road’ initiative could potentially cover one-third of the world’s population, one-third of global GDP, and about one-quarter of all goods and services in the global economy.
Further details about the dedicated district for Chinese products, featuring brands from the country as well as global fashion brands that appeal to Chinese tourists, will be revealed over the coming months, Emaar’s statement said.