Dubai Firm Acquires O.C. Home Builder

June 2, 2006

A giant United Arab Emirates real estate company on Thursday acquired Newport Beach-based John Laing Homes for $1 billion in cash, a deal that creates one of the world's largest property developers.

The transaction, which has been approved by a federal agency that oversees foreign acquisitions of U.S. firms, is Emaar Properties' first venture in the United States.

Emaar, which builds luxury housing and commercial developments in Asia and in many parts of the Arab world, has plans to extend its reach. It is building what it describes as the world's tallest tower and the world's biggest shopping mall, both in Dubai, where the company is based.

"Partnering with John Laing Homes is consistent with our strategy of expanding our business on a global basis," Emaar Chairman Mohamed Ali Alabbar said in a statement. "This agreement will provide Emaar with an important gateway into the U.S. real estate market."

more...

http://www.latimes.com/business/la-fi-homes2jun02,1,6636404.story?track=rss&ctrack=1&cset=true

conquer America. BUT IT UP!

know what Monkeyboy doesn't--the world is RUNNING OUT OF OIL. It's why they are aggressively investing in all sorts of ventures, to prepare their little fiefdom for a post-oil world.

Amazing how it's so friken important to bring DEMOCRACY to Iraq, but Monkeyboy happily does business with seven DESPOTS who own and control EVERYTHING in their country!

a beast with 7 heads..... Just thinking out loud here.....

We're being sold out.:(