Emaar Properties creates JV for $11b project in China
Emaar Properties PJSC, one of United Arab Emirates’ largest publicly traded developers, has plans to partner with Beijing Daxing International Airport to develop an $11 billion project, reported media outlets.
The project, which includes residential and leisure facilities, will be completed in 10 years.
Beijing Daxing International Airport is due to open in September and will be able to handle 72 million passengers a year by 2025.
The agreement was signed during a state visit to China by Abu Dhabi Crown Prince Sheikh Mohamed bin Zayed al-Nahyan.