Emaar Properties, a leading property developer in the UAE, has signed an agreement with China’s Beijing Daxing International Airport to establish a residential development with leisure facilities at a value of $11 billion, Reuters reported.
The deal includes the value of five square kilometres of land at the Chinese airport, according to the London-based news agency.
This agreement has been signed on the sidelines of the visit of Abu Dhabi Crown Prince Mohammed bin Zayed to China.
It is worth noting that Emaar is set to open an office in Beijing on Monday.
In May, Emaar Properties announced it signed a memorandum of understanding (MoU) with Beijing New Aeropolis Holdings (BNA) to develop a business and tourism complex, integrating retail, entertainment, office, and hotel hospitality in a one-stop solution within the Aero-Economic Area of Beijing Daxing International Airport.