Dubai's Emaar eyeing entry into China's real estate market | ZAWYA MENA Edition:
Dubai-headquartered property developer Emaar announced on Thursday that it had signed a memorandum of understanding (MoU) with the Dubai branch of Industrial and Commercial Bank of China (ICBC) and Dubai’s largest bank, Emirates NBD, to explore tripartite collaboration with an view to entering the Chinese real estate market.
The MoU was signed during a Belt & Road Bankers Roundtable hosted by ICBC in Beijing on Wednesday, the Dubai Financial Market-listed developer said in a press statement.
The statement said that the cooperation between the three entities would not be limited to financial services support with regard to Emaar’s development in China and other countries in the ‘Belt and Road’ initiative, but would also include joint exploration of urban development and the creation of high-quality living communities in China.
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