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Old Posted Feb 6, 2014, 6:11 PM
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Fabb Fabb is offline
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Good news, finally !

Quote:
Originally Posted by jackedi07 View Post
Hong Kong Investors Bank on Dubai Pearl Project



Chow Tai Fook Endowment Industry Development (CTFE), a Hong Kong development group, has invested US$1.9 billion in the hopes of breathing life into the expansive, yet currently shelved, Dubai Pearl project.

The proposed Dubai Pearl is ambitious, and would comprise four 287-meter towers connected by a rooftop skybridge, in addition to several five-star hotels, an elevated freeway network and public transit, shopping mall, a theater, and enough residential space to accommodate 20,000 people.

Overseas development groups see potential in places such as Dubai, where initial resources may be exhausted at a time when the opportunity for growth continues to rise. China in particular has shown interest in infusing cash into fledgling and flailing foreign developments.

"We expect most institutional commitments from overseas, as rental and capital values continue to grow," said Nick Maclean, managing director of CBRE Middle East.

According to CBRE, Asian institutional investors wish to invest US$150 billion in global real estate over the next five years, with Dubai as a key destination. Private consultancy Asteco reports that prime residential sales prices rose 60 percent last year in Dubai.

From CTBUH: http://www.ctbuh.org/News/GlobalTall...US/view.aspx#!