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.
Mohammed Al Mubarak, chief commercial officer of Aldar Properties, said: “This… 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.”
Al Raha Beach is an 11km-long waterfront city under development, intended to be the “gateway to Abu Dhabi” and home to 1,200 people.