Media365
Cheng and Dubai Sheikh Mana bin Khalifa Al Maktoum, founder and chairman of the Wafi Group, signed an agreement to set up a new entity called Wafi Anime 11 in Dubai on Wednesday, according to a statement on Thursday.
Al Maktoum is the cousin of Sheikh Mohammed bin Rashid Al Maktoum, who also serves as the vice-president and prime minister of the UAE.
“The two conglomerates will unite to usher in a new era for Wafi City, where heritage, culture and innovation will converge, strengthening Wafi Group’s position as the creator of one of Dubai’s most distinctive retail, leisure and wellness destinations.”
The joint venture planned to draw on Cheng’s K11 by AC brand, which is showcased in the K11 Musea mall in Hong Kong’s Tsim Sha Tsui.
“We are honoured to partner with Wafi Group, the pioneer of retail and iconic mixed-use development in Dubai,” Cheng said. “This collaboration at Wafi City sets a new benchmark for cross-regional retail cooperation, as we connect the consumers and rich cultural industries of the Middle East and Chinese-speaking markets.”
