{"id":286,"date":"2018-03-21T10:44:29","date_gmt":"2018-03-21T10:44:29","guid":{"rendered":"http:\/\/www.uaebarq.ae\/en\/?p=286"},"modified":"2018-03-21T10:44:29","modified_gmt":"2018-03-21T10:44:29","slug":"emaar-aldar-plan-8-billion-in-joint-projects","status":"publish","type":"post","link":"https:\/\/www.uaebarq.ae\/en\/2018\/03\/21\/emaar-aldar-plan-8-billion-in-joint-projects\/","title":{"rendered":"Emaar, Aldar Plan $8 Billion in Joint Projects"},"content":{"rendered":"<p>The two largest property developers in Dubai and Abu Dhabi are joining forces to pursue local and international real estate projects worth 30 billion dirhams ($8.2 billion).<\/p>\n<p>Emaar Properties PJSC, the developer of the world\u2019s tallest tower, and Abu Dhabi\u2019s Aldar Properties PJSC signed the partnership agreement, Dubai\u2019s Media Office said in a tweet. The venture will initially start lifestyle developments on Al Saadiyat Island in Abu Dhabi and Emaar Beachfront in Dubai.<\/p>\n<p>Developers in the U.A.E. are grappling with a tough local market as demand for property declines, pushing down values and rents. Dubai has seen predictions of a rebound miss the mark again and again over the last two years. Abu Dhabi\u2019s real estate market hasn\u2019t fared any better.<\/p>\n<p>While new, the partnership isn\u2019t the first instance of cooperation between developers in Dubai and its larger and richer neighbor Abu Dhabi. Emaar Chairman Mohamed Alabbar is leading Abu Dhabi-backed Eagle Hills, which is developing projects in countries such as Serbia, Bahrain and Nigeria.<\/p>\n<p>The start of common projects between Dubai and Abu Dhabi \u201cwill help strengthen our economy globally,\u201d the United Arab Emirates\u2019 Prime Minister and Dubai\u2019s ruler Sheikh Mohammed bin Rashid Al Maktoum said in a tweet.<\/p>\n<div class=\"mom-social-share ss-horizontal border-box\">\n<div class=\"ss-icon twitter twitter-18062\">\u00a0businessweekme<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The two largest property developers in Dubai and Abu Dhabi are joining forces to pursue local and international real estate projects worth 30 billion dirhams ($8.2 billion). Emaar Properties PJSC, the developer of the world\u2019s tallest tower, and Abu Dhabi\u2019s Aldar Properties PJSC signed the partnership agreement, Dubai\u2019s Media Office said in a tweet. The &hellip;<\/p>\n","protected":false},"author":1,"featured_media":287,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-286","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-economy"],"_links":{"self":[{"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/posts\/286","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/comments?post=286"}],"version-history":[{"count":0,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/posts\/286\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/media\/287"}],"wp:attachment":[{"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/media?parent=286"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/categories?post=286"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/tags?post=286"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}