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Aldar and Emaar are expected to also work together on other projects Aldar and Emaar are expected to also work together on other projects

Aldar and Emaar Announce Joint UAE Venture

Aldar Properties (Aldar) and Emaar Properties (Emaar) have announced a joint venture to develop what was described by both companies as the world's next era of iconic destinations that will shape the UAE's ever-evolving skyline.

The new partnership aims to create new opportunities for investment growth, and identify innovative projects that can enhance the UAE's leadership and competitiveness. Both companies are currently planning to focus on two projects; one for Dubai and the other is Abu Dhabi-based.

The UAE capital’s project is expected to be situated on Al Saadiyat Island, and titled, Saadiyat Grove. The development is set to open during 2021, and is expected to feature close to 2,000 residential units, two hotels, 400 serviced apartments and 130,000 m2 of experiential lifestyle and retail space.

The Dubai-based project is a new waterfront destination called, Emaar Beachfront. The private island is scheduled to feature a wide range of leisure and lifestyle attractions including food and beverage outlets, beachside play areas, retail pop-ups set along a promenade, and more.

The joint venture between Aldar and Emaar is anticipated to focus on creating destinations within some of the country's most sought-after locations through a series of joint developments.