Abu Dhabi’s Aabar Investments on Thursday announced it had created a joint venture company with the Dead Sea Touristic and Real Estate Investment Company in Jordan.
The joint venture company will own a convention centre in the Dead Sea Valley in Jordan and will also shortly begin construction of a hotel which will be managed by a leading hotel corporation.
Aabar said in a statement on the website of the Abu Dhabi Securities Exchange that its total investment in the joint venture company will be JD30m ($42.2m).
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Aabar is an investment company headquartered in Abu Dhabi and is listed on the Abu Dhabi Securities Exchange.
The company, which has stakes in Daimler and Virgin Galactic, said last month its assets have grown to $10 billion and that it was eyeing more investments.
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