(Yicai Global) July 23 -- China's biggest ride-hailing operator Didi Chuxing has joined hands with Symphony Investment, a fund led by a cohort of multinational companies in the Middle East, to expand its presence in the United Arab Emirates and North Africa. 

Didi Chuxing and Symphony Investment penned an agreement to set up a joint venture in Abu Dhabi to offer services related to sharing economy and online consumer business, the Beijing-based firm said in a statement yesterday. 

Mubadala Investment, an Abu Dhabi sovereign wealth fund, is considering joining the partnership, the statement added. Mubadala joined Didi Chuxing's USD4 billion round of fundraising in 2017. 

The JV aims to contribute to the economic development of the Middle East and North Africa, while deepening ties with China, according to the statement. 

Symphony Investment counts hotel operator Emaar Properties, e-commerce platform Noon, logistics giant Aramex, and restaurant firm Americana Group as some of its funders. 

Didi Chuxing invested in Dubai's ride-hailing firm Careem in 2017. The Chinese firm has also teamed up with Southeast Asia's Grab, US Lyft, India's Ola, Brazil's 99, and Estonia's Bolt, reaching over 80 percent of the world's population across over 1,000 cities.

Editor: Emmi Laine