Dubai-based developer Emaar has inked a memorandum of understanding (MoU) with Beijing New Aeropolis Holdings (BNA) to cooperatively establish a mixed-use complex within the aero-economic area of Beijing Daxing International Airport – slated to be the largest worldwide, Invest-Gate reports.

At a ceremony held at China National International Convention Center on May 30, Emaar signed up for the new mega-project, which will integrate retail, entertainment, office, hotel hospitality, convention, sport, art, and lifestyle elements in a one-stop solution, the company said in a released statement.

“Emaar and BNA will work closely to drive diversified collaboration and actively accelerate the share of resources to boost the establishment of the important aero-economic area,” the Dubai-listed noted.

The signing comes after Emaar said last April that it was “very seriously eyeing entering into the real estate market of China.” The company said it was in discussions with many Chinese state-owned companies and is evaluating projects in a number of provinces and cities, including Hainan, Jiangsu, Chongqing, Guangdong, Beijing, and Shanghai.

To finance its expansion in the market, Emaar also signed a three-way MoU with the Dubai branch of China’s biggest lender Industrial and Commercial Bank of China (ICBC) and Emirates NBD during Belt and Road Conference in Beijing on April 25.

Emaar is currently operating in 13 markets including India, Lebanon, Egypt, Morocco, Pakistan, Saudi Arabia, Turkey, and the US, with a land bank of 1.6 bn square feet in the UAE and key international markets.