|Mubadala, John Buck form JV
Mubadala Development Company and The John Buck Company (TJBC) today announced the launch of a joint venture.
John Buck International will specialize in premium quality, integrated real estate development, leasing and management services. John Buck International will provide specially designed developments that are tailored to the specific and sophisticated needs of their tenants.
This initiative reflects the two companies' shared strategic approach toward developing and managing high-quality, complex projects in leading markets.
Mubadala gains access to TJBC’s expertise and longstanding track record for delivering superior quality commercial real estate development, leasing and property management services, with TJBC gaining access to one of the world’s fastest growing real estate markets in Abu Dhabi.
Speaking at the announcement, Carlos Obeid, chief financial officer of Mubadala, said: “We are very enthusiastic about this new partnership. The establishment of John Buck International will provide the very best fully integrated commercial real estate services for Abu Dhabi and the region. A vibrant and world-class real estate sector is critical to sustaining Abu Dhabi's economic growth and Mubadala is committed to delivering quality commercial real estate in the emirate through partnerships that bring the best international expertise to Abu Dhabi.”
John Buck, chairman of TJBC and CEO of John Buck International, said: "Everyone at The John Buck Company is incredibly excited about this partnership with Mubadala. As companies and people, we share a common vision; one that is focused on enhancing the value of real estate for users and investors, and making Abu Dhabi an ideal destination to live and work."
Mubadala has partnered with TJBC because of its outstanding track record for quality real estate development, leasing, and management services. In this fashion, John Buck International will serve Abu Dhabi and the region well by providing these important integrated real estate services, and playing an important role in developing key components in line with "Plan Abu Dhabi 2030" – the comprehensive urban plan for the Emirate.
Mubadala is a leading real estate investor and developer in the rapidly growing emirate, and is developing campuses for UAE University in Al Ain, and for Zayed, Paris-Sorbonne, and New York Universities in Abu Dhabi. Mubadala also has a 1 per cent stake in Aldar Properties, Abu Dhabi’s largest real estate development company, as well as stakes in New York-based Related Companies and has entered into a partnership with Asia’s largest real estate group, CapitaLand.
Privately-held, TJBC brings decades of expertise to John Buck International having developed over 28 million sq ft of premium commercial space across the United States.
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