Dubai-based developer Emaar on Thursday signed a memorandum of understanding (MoU) with Beijing New Aeropolis Holdings (BNA) to jointly develop a business and tourism complex.
At a ceremony held at the China National International Convention Centre, Emaar signed up for the project which will integrate retail, entertainment, office, hotel hospitality, convention, sport, art and lifestyle functions in a one-stop solution.
The project will be located within the Aero-Economic Area of Beijing Daxing International Airport, which is set to be the largest airport in the world, a statement said, without giving further details.
Emaar and BNA said they will work closely to drive “diversified collaboration and actively accelerate the share of resources to boost the establishment of the important Aero-Economic Area”.
Emaar has a land bank of 1.6 billion square feet in the UAE and key international markets.
In addition to Downtown Dubai, home to Burj Khalifa and The Dubai Mall, Emaar has built many landmark projects in the Middle East, North Africa, the United States, Europe and South Asia.
The group said it also plays an important role in driving China-UAE strategic partnership, and is actively exploring the Chinese market as part of the Belt Road Initiative.