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Media In – Dubai 20 March 2018 and WAM
UAE Vice President, Prime Minister and Ruler of Dubai His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, Aldar Properties and Emaar Properties to launch new global destinations to enhance the urban landscape in the UAE.
His Highness Sheikh Mohammed Bin Rashid Al Maktoum stressed the importance of cooperation between two of the UAE’s leading companies with a remarkable track record.
“Our aspirations for the future are great and we are confident in the capabilities of our national institutions to carry out the roles expected of them in the best way possible to achieve those aspirations, with all that it carries for the benefit of future generations,” he said. We want our institutions to always be at the forefront of development and to cooperate in finding ideas that we can confirm the leadership of the UAE as a model of development based on the happiness of people and provide the best ways to live a decent life for them.
For his part, His Highness Sheikh Mohammed bin Zayed Al Nahyan has blessed this important strategic partnership in the history of the two companies, wishing them success and continuing success and continue to strive for development, modernization and excellence.
“The launch of this partnership consolidates efforts and synergies and creates multiple opportunities to explore the prospects for growth and investment expansion and to design innovative plans and programs to enhance the leadership of our companies and the competitiveness of our institutions globally.”
The partnership, which aims to launch projects worth AED 30 billion, is based on the outstanding expertise and capabilities of the two leading companies, with the aim of developing exceptional destinations that are tailored to the future trends of the population and lifestyle.
The strategic partnership will focus on two projects in Abu Dhabi and Dubai as a joint venture.
The Saadiyat Grove project, which will be developed in Abu Dhabi, is located in the heart of Saadiyat Island’s cultural district and is one of the most attractive locations in the capital. It will become a focal point for Saadiyat Island with its natural landscapes, cultural centers and unique architectural features. The vast potential it offers to the business sector.
The development also provides a major link between the Louvre Abu Dhabi Museum, which opened in November 2017, the Sheikh Zayed National Museum, the first national museum of the UAE, and the Guggenheim Abu Dhabi Museum.
The multi-purpose development project, which is expected to open in 2021, includes approximately 2,000 residential units, two international hotels, 400 hotel apartments, retail and entertainment outlets covering an area of 130,000 square meters and designed to suit future lifestyles and meet the Millennium Development Goals .
In Dubai, Aldar will partner with Emaar to develop the new destination, Emaar Beachfront, the private island on the Arabian Gulf, which will include a variety of leisure and modern destinations including restaurants, cafes, beach playgrounds and commercial outlets along the Waterfront Walk.
