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DUBAI / Emirates Business
Dubai South signed a strategic alliance agreement (MoU) with Deyaar Development PJSC, for a joint development of a mixed-use project within the Residential District at Dubai South. The memorandum of understanding was signed by Ahmed Al Ansari, Acting CEO Dubai South and Saeed Al Qatami, CEO, Deyaar Development. Building on its endeavor to provide unique real estate solutions, the pact will see Dubai South and Deyaar establish a 50-50 joint venture to develop a 1,27 million sq ft site within the Residential District of Dubai South into a mixed use real estate project comprising residential property, retail and hospitality facilities.