Tuesday, March 07, 2006

Korean investors plan to invest in ever expanding Dubai real estate


South Korea's leading construction group Bando plans to invest $300 million in a mixed-use project in Business Bay, a zone that will create a cluster of commercial buildings.
According to reports, this is the company's first major property market exposure abroad and Bando Corporation is close to finalizing a land deal for the project with Dubai Properties.

"We have huge interest in Dubai's booming property market. If our first project proves successful, we'll consider long-term investment in other projects," he said. "Bando is prepared to bring new lifestyles based on technology in residential and office buildings in Dubai." , the officials said.

Bando's maiden venture in the region is still on the drawing board, but the company plans to invest between $300 million and $400 million on a residential-cum-commercial complex covering about 200,000 square meters.

Bando plans to invest between $300 million and $400 million on a residential-cum-commercial complex covering about 200,000 square meters. Company says it can attract money from places like Korea and Japan by creating an environment that appeals to East Asian investors.
Courtesy: Gulf News

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