Given the continued prosperity and ascendancy of Dubai & the United Arab Emirates, it will be important to watch their local firms expand globally. The WSJ recently offered an interesting look at Dubai World, the business and investment holding arm of the Dubai government which has invested more than $30 billion in real-estate projects abroad, in markets including Europe, the U.S., India, Saudi Arabia and Vietnam.

“…Last week, Limitless, one of the company’s development subsidiaries, announced it will build a $220 million mixed-use project in Vietnam, its first venture in Southeast Asia. The Halong Star project is a joint venture between Limitless, Vietnam-based Phuong Hung Joint Stock Co. and U.S.-based International Property Investment Partners LLC. The development will comprise luxury hotels, conference facilities and high-end homes — all with views of Halong Bay, a UNESCO world-heritage site. Construction is expected to start before year end and take five years to complete….

New markets are also on the horizon. In China, the company would like to acquire office and retail properties, because that is where it sees the most growth. The company would also like to acquire or develop office and retail properties in Japan and Korea, said Dr. Lai Boon.”