Aldar Properties and Mubadala Investment Company to form a joint venture.

Aldar Properties, a United Arab Emirates-based real estate development and investment company, and Mubadala Investment Company, a sovereign investor owned by the Government of Abu Dhabi, agreed to form a joint venture. The joint venture will be owned 60:40 by Aldar and Mubadala, respectively. Financial terms were not disclosed. "This deal represents the continued evolution of our strategic partnership with Mubadala, with the latest collaboration designed to create substantial value for both parties by combining Aldar’s expertise in real estate asset management and development, and Mubadala’s portfolio of high-quality income-generating assets and land bank. We expect these opportunities to deliver attractive returns for our shareholders and to make a notable contribution to Abu Dhabi’s development as a premier international business and lifestyle destination,” Talal Al Dhiyebi, Aldar Properties Group Chief Executive Officer.