Dubai’s Limitless Appetite for SE Asia

According to a report in The Shanghai Daily, Limitless — Dubai World’s property arm — agreed to buy a 30-percent stake in PT Bakrie Swasakti Utama, a unit of Indonesia’s biggest property developer PT Bakrieland Development for approximately two trillion rupiah (US$220 million).

“…The stake will help Limitless expand in southeast Asia’s largest economy, which will grow as much as 6.8 percent next year, according to government forecasts. The two companies will develop Bakrieland’s Rasuna Epicentrum project in central Jakarta, which Limitless can help market to overseas investors.

…The investment in Indonesia will be Limitless’ second foray into the region. In September it announced it will develop a US$220 million residential and tourism project in Vietnam.”

This entry was posted on Thursday, October 18th, 2007 at 2:20 am and is filed under Dubai World, Indonesia, UAE, Vietnam.  You can follow any responses to this entry through the RSS 2.0 feed.  Both comments and pings are currently closed. 

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Wildcats & Black Sheep is a personal interest blog dedicated to the identification and evaluation of maverick investment opportunities arising in frontier - and, what some may consider to be, “rogue” or “black sheep” - markets around the world.

Focusing primarily on The New Seven Sisters - the largely state owned petroleum companies from the emerging world that have become key players in the oil & gas industry as identified by Carola Hoyos, Chief Energy Correspondent for The Financial Times - but spanning other nascent opportunities around the globe that may hold potential in the years ahead, Wildcats & Black Sheep is a place for the adventurous to contemplate & evaluate the emerging markets of tomorrow.