KUALA LUMPUR and DUBAI, June 13 (Bernama) — UEM Edgenta Berhad (“UEM Edgenta”), through its 60%-owned subsidiary Kaizen Owner Association Management Services LLC (“Kaizen”), has entered into a Joint Venture and Shareholders’ Agreement with 21 Estates Group FZCO (“21 Estates”) to establish a new joint venture company (“JV”) in Dubai, United Arab Emirates (UAE).
The newly formed JV, intended to be known as DuaSatu (or any other name mutually agreed upon by Kaizen and 21 Estates and approved by the local regulators), will provide a comprehensive suite of services, including owners’ association and property management services, property management consultancy and advisory, leasing services, and other real estate advisory offerings for master development projects in Dubai, properties located within or owned by Expo City Dubai (ECD), as well as selected sites globally.