Sunday, 17 October 2010

Andrew Farkas provides Dubai link with NY election

An important adviser to Dubai World during the property boom who left the UAE last year has emerged as a key figure in the New York State governor's race.

Andrew Farkas is finance chairman for Andrew Cuomo, the New York State attorney general who is running for governor. He was introduced to Dubai in 2002 by Sol and the late Butch Kerzner, the South African hotel magnates behind the Atlantis on the Palm Jumeirah.

In 2005, as the relationship developed, Mr Farkas brokered property deals in New York that led to the acquisition by Istithmar, Dubai World's private equity arm, of high-profile Manhattan properties including the W Hotel Union Square, 230 Park Avenue and the Mandarin Oriental hotel in Columbus Circle.

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