Dubai World has signed an agreement to develop real estate and tourism projects in the Chinese city of Qingdao in its first major overseas venture since its formal launch as a holding company recently.
According to Gulf News, Dubai World companies such as Limitless and Istithmar are set to inject huge sums of money into developing an international convention centre, hotels, shopping malls, marinas, residential blocks and office towers in China.
Qingdao is a seaside city on the southern coast of the Shandong Peninsula bordering on the Yellow Sea and the Jiaozhou Bay.
