Emaar and Shanghai China-News Enterprise Development sign MoU

SHANGHAI — In one of the first high-level Sino-UAE public-private partnerships, Emaar Properties yesterday signed a Memorandum of Understanding (MoU) with the Shanghai China-News Enterprise Development Limited.

By A Staff Reporter

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Published: Thu 3 Apr 2008, 9:38 AM

Last updated: Sun 5 Apr 2015, 11:35 AM

The Shanghai China-News Enterprise Development Limited, a Chinese government entity and subsidiary of the People's Daily Shanghai branch, to explore mixed-use property and infrastructure development projects in key Chinese cities.

The agreement was signed in the presence of His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai by Mohammed Ali Alabbar, Chairman, Emaar Properties, and Chen Ming Ren, Legal Representative and General Manager of Shanghai China-News Enterprise Development Limited.

The strategic partnership between Emaar and Shanghai China-News Enterprise Development Limited marks one of the first public-private partnerships between the Chinese government and Dubai's leading property developers, highlighting the increasing global role played by Dubai companies.

It also reiterates Emaar's expansion plans to China.

Emaar had earlier marked a milestone in its expansion plans by being the first Middle East developer to open a full-fledged office in China in 2006.

An investment arm of People's Daily, Shanghai China-News Enterprise Development Limited has its primary focus on real estate business as well as interests in conventions, tourism and publishing.

People's Daily is one of the world's top 10 newspapers and one of China's most influential sources for local and international news.



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