dubai pearl

Canada Business Holding (CBH) will invest $6 bln to take over distressed assets and real estate projects in the UAE, including the delayed Dubai Pearl development according to the Gulf News report.

CBH intends to deploy such funds in acquiring distressed assets and complete their construction. The company plans to invest, develop, own, manage and overrate the assets for the next thirty years,” the company said in a statement sent to Gulf News on Sunday.

The Canadian company, which has a pipeline of more than $17 billion worth of projects, is set to open a regional office in the emirate before the end of the year, to oversee its business in the Middle East.

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