Joint real estate venture to be established in Dubai
The Emirates Sunland Group (ESG), a 50:50 joint venture between Australian property developers Sunland Group Ltd. and the UAE's Emirates International Holdings was recently formed. The new group is expected to have several offices in Dubai.
ESG announced it will develop several high profile projects in Dubai, according to Gulf News. The proposed ESG projects include the design, development and ongoing operations of Palazzo Versace Dubai, the world's second Versace-branded hotel, a master- planned community in Umm Al Quwain.
In addition, D1, an 80-storey residence-cum-resort tower to be built on the Dubai Creek is also planned. D1 is a sister tower to Q1, the world's tallest residential tower, which Sunland Group completed on the Gold Coast, Australia, this year.
The Sunland Group, formed more than two decades ago, has an impressive real estate portfolio in Australia, with a $3 billion portfolio.
includes land subdivision, residential housing, medium-density residential, multi-storey residential, retail and commercial, tourism and leisure management and childcare centres.
With the establishment of offices in Dubai, ESG will continue to build on Sunland Group's expertise.