Bawadi and Emaar join hands for $16 Billion Hotels and Hospitality Development in Dubai
More development news on the huge hospitality project called Bawadi, in Dubai.
"Bawadi, a member of Tatweer, and Emaar Properties PJSC, the property developer with a significant presence in 16 countries, have joined hands to develop 70 million sq ft of land in Bawadi, the largest hospitality and leisure development in the world, located in Dubailand."
The AED 60 billion project will be a signature development by the joint venture with equal equity participation by Bawadi and Emaar. Bawadi will contribute 70 million square feet of land valued at AED 3.85 billion in lieu of its ownership interest. Emaar will contribute AED 3.85 billion in cash to the joint venture over the project construction period to finance the project build.
Source: albawaba.com middle east news information::Bawadi and Emaar enter joint venture for AED 60 billion signature development
tags: bawadi, emaar, tatweer, dubai, uae, hospitality, hotels, resorts, development, construction, land
Posted 10/21/07 by JJ | Filed under: Development
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