Dubai’s master developer Nakheel has signed a memorandum of understanding (MoU) with The Land Holding (The Land), at Cityscape Dubai.

Under the deal, Nakheel and The Land Holding will jointly undertake a development project at Waterfront, the world’s largest coastal development. This is the first joint venture between the two developers.

“Nakheel is changing the map of Dubai with a portfolio of landmark developments. The Land meets the high standards we demand from all of our joint venture partners across project delivery, quality and sustainability,” stated Yousuf Kazim, managing director, Nakheel Joint Ventures.

“We believe that our partnership with Nakheel will enable us to continue delivery of our core values,” added Karim Jabbour, CEO, The Land Holding.

On completion, Waterfront will be twice the size of Hong Kong Island and add an extra 70 km to Dubai’s coastline. Sustainability is a core component in every aspect of the development’s design and build.-TradeArabia News Service