Global Leaders, ICBC, The Largest Bank In The World, Emaar And Emirates NBD Team Up To Collaborate In China And All Countries In The 'Belt And Road' Initiative

During the 2nd Belt&Road Bankers Roundtable hosted by Industrial and Commercial Bank of China in Beijing on 24 April 2019, Emaar signed a memorandum of understanding (MoU) with ICBC, Dubai (DIFC) Branch (ICBC) and Emirates NBD (ENBD) to explore a triparty collaboration.

The cooperation will not be limited to financial services support with regard to Emaar’s development in China and in all countries in the ‘Belt and Road’ initiative but will include joint exploration of urban developments and the creation of high-quality living communities in China.

This collaboration signals that Emaar is very seriously eyeing entering into the real estate market of China and leveraging its long experience in building key projects and attractions. Emaar is currently engaging in discussions with many state owned companies and evaluating projects in a number of provinces and cities, such as Hainan, Jiangsu, Chongqing, Guangdong, Beijing and Shanghai.

Emaar, Emirates NBD, and ICBC share a common vision for establishing more collaboration between China and UAE. This MoU opens up a new spectrum of opportunity to bring Emaar’s iconic project and premium lifestyle to China and to achieve a win-win situation for China and the UAE.