Aldar Properties and Diamond Developers to form an AED1.8bn joint venture.

Aldar Properties, a real estate development, management and investment company, and Diamond Developers, a real estate developer, agreed to form an AED1.8bn joint venture. “This agreement marks an important milestone in Aldar’s strategy to accelerate sustainable development in Abu Dhabi. The Sustainable City – Yas Island will have all the elements of high-quality sustainable living and will complement our commitment to carbon reduction, in line with the UAE’s Net Zero by 2050 Strategic Initiative. The development will also provide another new and exciting lifestyle choice for our customers right in the heart of the highly sought after Yas Island," Jonathan Emery, Aldar Development CEO.