Developer links up with investor to develop Al Remila section of waterfront city development
UAE developer Aldar is teaming up with Abu Dhabi Investment House, a major local investor, to develop an area of Al Raha Beach.
The two have signed a memorandum of understanding that is to lead to a joint venture to develop the Al Remila part of Al Raha Beach initially and then look at other opportunities.
The wider Al Raha Beach development will eventually be home to 1,200 people
Mohammed Al Mubarak, chief commercial officer of Aldar Properties, said: 鈥淭his鈥� demonstrates the appetite in Al Raha Beach and in the development of sustainable communities throughout Abu Dhabi. We are excited to be working with Abu Dhabi Investment House and look forward to a long partnership.鈥�
Al Raha Beach is an 11km-long waterfront city under development, intended to be the 鈥済ateway to Abu Dhabi鈥� and home to 1,200 people.
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