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Emaar buys $1bn Laing
- United Arab Emirates: Saturday, June 03 - 2006 at 11:07
Emaar Properties has taken its first step into the US property market with the $1.1bn purchase of John Laing Homes. The US private developer, the second largest in the country, achieved revenues of $1.6bn last year. Emaar's Chairman Mohammed Ali Alabbar described the agreement as consistent with the company's plan to expand the business beyond Dubai.
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Jonathan Sheikh-Miller, Deputy EditorSaturday, June 03 - 2006 at 11:07 UAE local time (GMT+4)
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