Packer quits Sunland as director after losses

JAMES Packer has cut his losses in the Middle East property market, yesterday resigning from the board of Sunland three years after he joined the Gold Coast-based developer.

Sunland, headed by the father and son team of Soheil and Sahba Abedian, is active on the Gold Coast, where its flagship buildings are the giant Q1 and the Palazzo Versace at Surfers Paradise.

But the company also targeted the key Middle East market of Dubai, and this was the main reason Packer joined the board in 2006.

More detail here: http://www.goldcoast.com.au/article/2009/08/14/108221_gold-coast-news.html