Sunday 23 December 2012

Las Vegas condo-sale windfall for Dubai World - The National

Dubai World is set to tap into a US$119 million (Dh437.1m) windfall after a Las Vegas resort sold 427 homes in a bulk deal.

The condominiums are part of CityCenter, an $8.5 billion entertainment complex on the Las Vegas strip, half owned by Infinity World, a unit of the Dubai government holding company.

CityCenter, which features the 4,004-room Aria gaming resort, several non-gaming hotels, residential towers and a 500,000-square-foot retail and entertainment district, opened in December 2009 during the city's real estate crash.

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