Wednesday, June 11, 2008

MGM/Dubai World

MGM Mirage to launch mixed-use resort in Dubai

Just the beginning (as DW also purchase 9.5% stake in MGM Mirage

and: Dubai World to Invest $5B in MGM Mirage and Resort Project ...

Dubai: MGM Mirage, the US entertainment and hospitality company, said it will launch a mixed-use resort project in Dubai in a joint venture with Dubai World.

Various locations, including the three Palm Islands, are being considered for the development, MGM Mirage Hospitality chief executive officer Jamal Aziz told Gulf News.

"We are in deep discussions with Dubai World," he said.

The company is already working with Abu Dhabi's Mubadala on a $3 billion waterfront plan in a prominent location in the UAE capital.

Mubadala is expected to soon unveil the design and site of the project.

The initial phase will use 50 acres of land and consist of an MGM Grand hotel and two additional MGM-branded luxury hotels.

More than 1,200 luxury guest accommodations will be developed in the first phase.

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