Emaar signs agreement with Chinese developer

03 April 2008
Dubai-based developer Emaar Properties has signed a memorandum of understanding with Shanghai China-News Enterprise Development to explore opportunities in China.

The two companies will look at mixed-use development projects as well as investments in education, healthcare, shopping malls and hospitality and leisure.

Strong economic growth in China means that the country now has an urban population of about 400 million, pushing up demand for housing and community services.

Emaar's expansion to China will consolidate the company's presence across Asia. It already has significant investments in India, Pakistan, Indonesia and Singapore.

The agreement was signed during a state visit to China by UAE Vice-President and Prime Minister and Ruler of Dubai Sheikh Mohammed bin Rashid al-Maktoum.

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