Wednesday, 18 October 2017 02:50 GMT
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Hong Kong group acquires USD1.9 b stake in Dubai Pearl

(MENAFN) A major Hong Kong property group has acquired what is worth USD1.9 billion stake in Dubai Pearl project, according to Arabian Business



The project by Chow Tai Fook Endowment Industry Investment Development will extend over 20 million square feet, and will include two five-star hotels, and a number of residences and apartments



The new development is 100 percent owned by Pearl Dubai FZ LLC



The new project is expected to cost USD6 billion, and will overlook the Palm Jumeirah. The project will include branded apartments, retail and leisure, commercial offices and hospitality units
Hong Kong group acquires USD1.9 b stake in Dubai Pearl