Video: Everything you need to know about the UAE's $8bn Aldar-Emaar JV
Watch this video for more details about the JV's first two projects in Abu Dhabi and Dubai, as well as its long-term strategy
Abu Dhabi's Aldar Properties and Dubai's Emaar Properties have created a joint venture (JV) worth $8.1bn (AED30bn).
The newly formed JV will initially build a project each in Abu Dhabi and Dubai, and its pipeline also includes international projects.
An agreement was signed between Emaar chairman, HE Mohamed Alabbar, and Aldar chairman, HE Mohamed Khalifa Al Mubarak, to formalise the partnership.
Vice President and Prime Minister of the UAE and Ruler of Dubai, HH Sheikh Mohammed bin Rashid Al Maktoum, and Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, HH Sheikh Mohamed bin Zayed Al Nahyan, attended the signing ceremony.
The following video reveals additional details of the JV's planned UAE projects, as well as the long-term benefits that are expected from the partnership.