UAE's biggest real estate developers Emaar, Aldar enter strategic partnership

Source: Xinhua | 2018-03-21

Abu Dhabi's Aldar Properties and Dubai's Emaar Properties, the United Arab Emirates (UAE)'s two largest real estate developers, will "unite efforts" signaling a far-reaching partnership, Dubai daily Gulf News reported on Tuesday.

Abu Dhabi Crown Prince Sheikh Mohammad Bin Zayed Al-Nahyan said on Twitter that the two companies will unite efforts, energies, co-operation and work together in creative plans and programs.

This partnership, he added, would "enhance the leadership of our companies and the competitiveness of our institutions at the global level."

Aldar has built scores of landmark buildings in the UAE capital Abu Dhabi, among them Yas Mall near the Formula-1 track on Yas Island.

Emaar's flagship is the world's tallest tower Burj Khalifa, and the company under its CEO Mohammed Alabbar currently develops the Dubai Creek Tower, which according to Alabbar shall be "a notch higher than the Burj Khalifa" once completed by 2020.