By Staff www.arabianbusiness.com
A Canadian investment company has said it is looking to spend up to $6 billion on distressed real estate projects in Dubai, adding that it has expressed an interest in acquiring the much-delayed Dubai Pearl development.
Canada Business Holdings said in a statement that it has raised its investment ceiling in Dubai properties to $6 billion.
“The focus of Dubai investments is in the real estate market. CBH intends to deploy such funds in acquiring distressed assets and complete their construction. The company plans to invest, develop, own, manage and overrate the assets for the next 30 years,” the company said.
It added that the management of CBH has recently expressed interest in acquiring Dubai Pearl project. More info
