Emaar inks agreement to develop $11 bn project in China’s new airport
Emaar will also open an office in Beijing with the aim of enhancing the company’s business activities in China
In line with HH Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces’ visit to China, it has been announced that Emaar will jointly develop a $11 billion project with Beijing Daxing International Airport.
As part of the memorandum of understanding (MoU) signed between Emaar and Beijing Daxing International Airport, five sq. km land of the 50 sq. km airport will be utilised for the project, which will be completed in 10 years.
Mohamed Alabbar, chairman of Emaar Properties, said that the project which includes residential and leisure facilities and noted that the implementation of an Emirati project in China demonstrates the confidence that the company enjoys at the international level, as reported by state news agency, WAM.
Alabbar also said that Emaar’s success in implementing the project is also a clear sign of the distinguished relations between the UAE and China.
“This agreement is the beginning of opening new opportunities in the Chinese market, which is the largest in the world,” he added.
Additionally, Emaar will also open an office in Beijing under the patronage of Sultan bin Saeed Al Mansouri, Minister of Economy, with the aim of enhancing the company’s business activities in China.
