Reality check for Dubai developer's US$20m project
Dubai
MORGAN PARKER'S first job at one of Dubai's biggest developers was to tell his bosses everything that was wrong with their US$20 billion plan to build the world's largest mall and 100 hotels to surround it.
A lot, it turned out. The former head of the Rockefeller family's Rose Rock real estate firm took Dubai Holding LLC's Mall of the World project back to the drawing board, pushing a scaled-down plan that doesn't require breaking records to attract attention.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Australia’s housing rent hits record high in headache for RBA
Airbnb promises to combat sex work in rentals during Paris Olympics
Hong Kong property deals hit three-year high in April
More homes planned in Media Circle to support housing demand
Qatari Sheikh sells London mansion to fellow royal for £39 million
Toronto home sales fall for third month in April; prices rise