Nakheel, The Land Holding in joint venture project at Waterfront

Dubai: Nakheel announced a Memorandum of Understanding (MoU) with The Land Holding (The Land) for a joint venture development project at Waterfront, the world's largest coastal development. The partnership agreement, the first between the two developers, was struck at Cityscape Dubai.

Karim Jabbour, CEO, The Land Holding, said: "The Land is delighted to be breaking new ground in Dubai with such a prestigious and respected developer as Nakheel. The Land is single-minded in its desire to strive for excellence in all our developments and believe that our partnership with Nakheel will enable us to continue delivery of our core values."

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