Dubai eyes China investments
Monday, September 17, 2007
LIMITLESS, a property developer owned by the government of Dubai, said on Sunday it plans to invest in urban projects in China to the tap the country's growing real estate market.
The company has set up a unit in Hong Kong and another in Shanghai, it said in a statement.
It did not give details.
The investments are part of a plan to grow in the Far East, the company said.
"Our projects in this part of the world will represent a sizeable chunk of our global portfolio," Mark Jared, the company's business development director in China was quoted as saying.
Limitless said last week it will help develop a US$220 million hotel and residential complex in Vietnam to tap rising tourism in Southeast Asia's fastest growing economy.
Limitless was set up in July 2005, with the key objective of diversifying and globalising Dubai's portfolio of leading development companies by leveraging the know-how and exposure gained by Dubai World's real estate initiatives through Nakheel.
Reuters
The company has set up a unit in Hong Kong and another in Shanghai, it said in a statement.
It did not give details.
The investments are part of a plan to grow in the Far East, the company said.
"Our projects in this part of the world will represent a sizeable chunk of our global portfolio," Mark Jared, the company's business development director in China was quoted as saying.
Limitless said last week it will help develop a US$220 million hotel and residential complex in Vietnam to tap rising tourism in Southeast Asia's fastest growing economy.
Limitless was set up in July 2005, with the key objective of diversifying and globalising Dubai's portfolio of leading development companies by leveraging the know-how and exposure gained by Dubai World's real estate initiatives through Nakheel.
Reuters
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