Emaar has confirmed media reports that it has launched business development operations in China, an expansion that comes amid efforts to widen its appeal to Chinese investors and promote its luxury hotel brand in the Asian superpower.
In a filing on Dubai Financial Market, where the firm’s shares are traded, Emaar said it has a team of dedicated business development professionals in the country “specially recruited from China”, and has also started the design and fit-out of two premium offices in Beijing and Shanghai’s central business districts (CBD).
Promoting the UAE and Dubai as an investment destination for Chinese investors, the showrooms will also showcase Dubai hotspots like Dubai Mall and Address-branded hotels, Burj Khalifa, Dubai Aquarium, and the Underwater Zoo.
Emaar said it is also expanding its premium luxury hotel and serviced residences brand, Address Hotels + Resorts, to China, adding that the luxury hospitality brand's launch will be in “key cities in the country, building on the familiarity that it enjoys among Chinese tourists”.
The firm’s move East also complements China’s ‘Belt and Road Initiative’, the mega-infrastructure development, set to connect more than 60 countries, that Emaar said the UAE will have a “significant part” to play in.
The developer added: “Emaar aims to work with the UAE embassy in China to promote the nation’s appeal to Chinese investors, with guidance from HE Ali Obaid Al Daheri, UAE Ambassador to China, who has been actively promoting UAE-China ties, by fostering trade relations and tourism, as well as highlighting the UAE’s appeal as investment hub.”
In July, President and chief executive officer of China State Construction and Engineering Corporation Middle East, Yu Tao, told Construction Week that the Chinese state-owned engineering giant would bankroll its GCC-based business to enhance development of the Belt and Road initiative.