Friday, January 25, 2008

Selling U.S. Condos in Dubai

The 7.8 billion dollar CityCenter project here in Las Vegas (where I am this week, attending the annual CCAL Community Association Law Seminar) has found an interesting pool of buyers; they are selling their condominiums to wealthy Dubaians. (Is that a word?)

The idea follows an investment in the project by a Dubai government-owned conglomerate; as part of that deal, the MGM Grand entity got an agreement to be able to sell units in a Dubai sales office. With the dollar at historic lows, the units are reportedly selling quite well to international investors.

The Las Vegas Sun's story on the project can be found here.

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