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$2bn Al Burj buys Madinat
- United Arab Emirates: Saturday, September 17 - 2005 at 13:36
Al Burj Real Estate, a newly-established $2bn private stock company formed by Dubai Islamic Bank and other investors, has been launched in Dubai, becoming one of the largest capitalized real estate firms in the UAE, and has bought a significant share of the property in Phase I of Madinat Al Arab, the planned urban downtown at the heart of Dubai Waterfront. Madinat Al Arab will be anchored by Al Burj, one of the world's tallest buildings.
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Peter J. CooperSaturday, September 17 - 2005 at 13:36 UAE local time (GMT+4)
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