UAE majors in talks to collaborate on real estate and hospitality projects in Eastern Europe
Two major UAE-based companies are in talks to collaborate on investment project in Belarus, it was announced on Tuesday.
Senior executives of the Al Habtoor Group and Emaar have held discussions on investment opportunities in the eastern European country, a statement said.
The companies have agreed to form a joint team to travel to Minsk to study opportunities "as early as possible".
They will focus on possible collaboration in multi-purpose complexes and hospitality projects in the country.
Ahmad Thani Al Matrooshi, managing director, Emaar Properties, met with Khalaf Ahmad Al Habtoor, chairman, Al Habtoor Group. the statement said, adding that other senior officials were present at the talks.
The meeting follows a four-day visit to Belarus by Al Habtoor in mid-October to look at investment opportunities.
Al Habtoor was invited to the capital Minsk by the Prime Minister of Belarus Mikhail Myasnikovich who visited the UAE earlier in the year.
"Belarus is a beautiful country, full of business opportunities. I was very impressed following my visit there," he said in the statement.
Al Habtoor's managing director Mohammed Fadhel Al Mazrooei added: "We will jointly study projects in Belarus. Emaar has a proven track record in the UAE and international markets. We have many synergies. A combination of the Al Habtoor Group and Emaar will make a very strong team."