"Consequently, Tameer will continue to have 100 per cent ownership of the Rise Above project, and Sorouh will now have 100 per cent of the Gate Towers project," Sorouh said in a statement on the Abu Dhabi Securities Exchange website.
Sorouh's Shams project on Reem island is a $25 billion (Dh92 billion) residential project next to Abu Dhabi city.
The statement did not disclose the value of the joint ventures, nor did it state a reason for the decision to dissolve the projects.
Keep up with the latest business news from the region with the Emirates Business 24|7 daily newsletter. To subscribe to the newsletter, please click here.