Mohamed Alabbar: 'Emaar's China project to complete in 10 years'
Emaar's $11bn project with Beijing Daxing International Airport will feature residential and leisure components
Mohamed Alabbar, chairman of Dubai real estate giant Emaar Properties, said on the sidelines of a visit by HH Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, to China – that the company’s $11bn (AED40.5bn) China project with Beijing Daxing International Airport would complete within 10 years.
A memorandum of understanding for the project was signed between both parties in May 2019.
Alabbar, speaking to UAE state news agency, Wam, said Emaar’s project with the airport operator – comprising residential and leisure components – would span 5km2 within the 50km2 airport’s space.
Emaar’s chairman said the project highlighted the UAE’s and China’s deep trade ties, adding that the Dubai firm would open an office in Beijing under the patronage of Sultan bin Saeed Al Mansouri, the UAE’s Minister of Economy, with to enhance its business activities in China.