Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: patron_anejo_por_favor who wrote (48648)	2/17/2006 1:31:16 PM
From: paret	Read Replies (1) \| Respond to of 306849

Dubai Royals Snatch Up Manhattan Real Estate 1010 WINS NEW YORK ^ \| Nov 10, 2005 6:44 am US/Eastern The royal family of Dubai, one of the wealthy Arab emirates, has bought two buildings in Manhattan for more than one-point-one (B) billion dollars. The New York Times reports that the buildings are 230 Park Avenue, a 34-story tower between 45th and 46th streets, and the Essex House, an Art Deco hotel on Central Park South. The buildings were purchased through two companies controlled by the royal family of the oil-rich city state. According to the Times, this is Dubai's first foray into New York's real estate market. The crown prince, Sheik Mohammed bin Rashid Al Maktoum, wants to diversify Dubai's economy. Dubai has turned itself into a tourist hotspot and an international banking center as well as tackled foreign real-estate investment.