American-owned company to invest in Dubai real estate project
An American-owned company said Monday it will build an $800 million real-estate development in Dubai in what will be the largest Western investment in the Gulf emirate.
Capital Partners, a privately owned company run by two Americans, moved its headquarters to Dubai three years ago. Since then, Chief Executive Jonathan Wride has been negotiating the legal framework for Dubai River Walk, an office-and-residential development, The AP reported.
A government official involved in the negotiations said Capital Partners got a good deal on the land in a bid to attract more foreign investment to Dubai.
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