Reem Investments has signed a Memorandum of Understanding with the World Next Generation Korean Entrepreneurs and Professionals Association (WNGKEPA), a non-profit organisation under the Ministry of Knowledge and Economy, Republic of Korea
The partnership will see the construction of a Korean Cultural Centre (KCC) and work towards the development of Hanin Village at Najmat on Reem Island, which will focus on providing homes for Koreans settling in the UAE capital.
Najmat is one of the two key master developments under Reem Investments’ real estate portfolio and is a 50 million square foot project on Reem Island, just 300 metres off the coast of Abu Dhabi’s city centre.
The MoU was signed by Ms. Noh Sun Hee, executive director of WNGKEPA, and HE Abdulhamid Saeed, managing director of Reem Investments in a ceremony in Seoul, Republic of Korea.
At the same ceremony, WNGKEPA and Reem Investments signed a 30-year land lease agreement for the 240,000 square feet cultural centre. The KCC will be located adjacent to the 800 metre man-made waterway and just steps away from the 167-berth marina at Najmat on Reem Island.
