NewGenIvf Group (NIVF) announced that its subsidiary, NewGenDigital, has signed a Memorandum of Understanding, MOU, with BNW Real Estate Development, a real estate developer in Ras Al Khaimah and Dubai, UAE. Per the terms of the MOU, NewGenDigital and BNW will endeavour to negotiate and execute a definitive Joint Venture Agreement to form a special-purpose vehicle with the intention of developing NewGenDigital’s recently acquired strategic plot of land in Ras Al Khaimah’s Beach District, UAE. BNW is currently developing 6 new residential properties in Ras Al Khaimah and Dubai, and manages a real estate portfolio of about US$520M. As a development partner, BNW will work with NewGenDigital to oversee the overall execution, project management, sales, leasing, and marketing of NewGenDigital’s Plot, leveraging their experience in the region to maximize profitability in compliance with applicable laws and industry standards.
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