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Tue 22 Nov 2016 10:02 AM

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China's celebrity developer builds ties with Dubai

Chairman Wang Shi, who founded real estate firm Vanke, is supporting entrepreneurs from the world’s biggest economy

China's celebrity developer builds ties with Dubai
Chairman Wang Shi, founder of Vanke, one of the world’s largest residential real estate developers

China’s biggest real estate developer is working to broaden his country’s relationship with Dubai by leading groups of entrepreneurs to the emirate.

Chairman Wang Shi, the founder of Vanke – one of the world’s largest residential real estate developers – has been championing Shenzhen Entrepreneur’s Innovation Leader’s Camp in Dubai. The camp brings small groups of China’s most promising entrepreneurs to the emirate to learn about its opportunities and business environment.

The event is also expected to be a catalyst for entrepreneurs from the world’s biggest economy to branch out to Dubai. Trade between the two nations has been increasing at one of the fastest paces of any bilateral trade relationships of the emirate, and China is now Dubai’s largest trading partner, with the value expected to reach $70bn by 2018.

The first cohort visited earlier this month and were addressed by Chairman Shi, who is often described as China’s Richard Branson and treated as a celebrity in his home country.

"I hope this Innovation Leader Camp not only brings deeper understanding and cooperation for both cities, but also have this cooperation been expanded to other cities in China," he said.

Chairman Shi told Arabian Business he particularly welcomed the opportunity for the group to better understand Dubai’s freezone model.

The entrepreneurs, who are part of the Shenzhen Foundation for International Exchange & Cooperation and the Shenzhen SME Entrepreneurs Association (SMEA), also visited DIFC Courts, TECOM, JAFZA, DP World and the Dubai Expo 2020 site, which has promised to focus heavily on start-ups.

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