NewGenDigital Signs MOU with BNW for Lucrative UAE Land Development
Reuters
Jul 21
NewGenDigital Signs MOU with BNW for Lucrative UAE Land Development
NewGenIvf Group Ltd.'s subsidiary, NewGenDigital Limited, has entered into a Memorandum of Understanding with BNW Real Estate Development LLC, a leading developer in the UAE. This agreement aims to form a joint venture to develop NewGenDigital's recently acquired plot of land in Ras Al Khaimah's Beach District. The collaboration is set to enhance NewGenDigital's expansion strategy by leveraging BNW's expertise and resources, while minimizing initial capital outlay. NewGenDigital will contribute to 36% of the land cost, while BNW will cover the remaining costs and be responsible for construction, management, and a share of marketing expenses. The project is expected to yield a potential net return of up to US$67 million, marking a significant diversification opportunity for NewGen beyond its core fertility services.
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