Thursday, August 30, 2007

Emaar and Dubai Holdings join hands for prime land developments in Dubai

The leading Dubai-based real estate developer, Emaar Properties, and the largest Dubai-based business conglomerate in the Middle East, Dubai Holding, have together announced a joint-venture arrangement for development of land in major locations in Dubai.

The Executive Chairman of Dubai Holding, Mohammad Al Gergawi, said that both Dubai Holding and Emaar are of the belief that both companies would benefit from working together on real estate projects in Dubai. Both firms are currently holding advanced discussions over the matter, for development of world-class projects in major locations in Dubai.

After its launch in 2004, Dubai Holding operates in various sectors ranging from technology, real estate, finance, health, energy, communication, tourism, hospitality, biotechnology and industry. Emaar on the other hand, powered by its vision 2010, is all set to become the most renowned names in the property market across the world, and is in the process of creating master-planned communities in international markets. It is also into developing new competencies in leisure malls, hospitality, healthcare, finance, and education which has evolved from its integrated approach to real estate development and customer service.

Both companies have strong fundamentals and their potential growth displays a great promise for investors.

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