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Dubai World now owns half of MGM Mirage Project CityCenter Las Vegas. The Persian Gulf state investment subsidiary financially controls 9.4 percent of the MGM Mirage gaming company and 50 percent of the $8.4 billion Las Vegas Nevada real estate.

MGM Mirage joint-venture partner Dubai World received permission Tuesday from Michigan gaming regulators to increase its ownership in the casino giant to almost 15 percent.

Continue reading Dubai World Now Owns Half Of MGM Mirage Project CityCenter Las Vegas

Dubai World and MGM Mirage in second joint venture for Las Vegas real estate.

Istithmar Hotels FZI, subsidiary of Dubai World, Kerzner International Holdings and MGM Mirage entered into a joint venture to 40 acres of land on Sahara Avenue and the corner of Las Vegas Strip.

The commercial real estate is yet to be named and the construction for this multibillion dollar resort is planned for construction in 2009 and completion in 2012.

Three months ago a partnership between Kerzner International Holdings and MGM Mirage for a equal partnership to develop the land was announced.

Continue reading Dubai World & MGM Mirage In Second Joint Venture For Las Vegas Resort

Project CityCenter and MGM Mirage Las Vegas has $5.1 billion invested by Dubai World. The real estate developer of the World and Palm developments off the coast of Dubai agreed to purchase a 50 percent ownership in 9.5 percent of MGM Mirage common stock, which would cost $2.4 billion, and 50 percent in Project CityCenter real estate for $2.7 billion.

CityCenter Las Vegas is expected to finish in the last quarter of 2009. The mega resort will contain 2,650 luxury condos in several towers, a 4,000 room resort casino, 470,000 square feet of entertainment and retail space and two 400 room non gaming luxury hotels.

Continue reading Project CityCenter and MGM MIRAGE Has $5 Billion Invested By Dubai World