Dubai World sued over consulting on Cape Town V&A sale

Dubai World sued over consulting on Cape Town V&A saleDevland Holdings, an American consulting company, is suing Dubai World over fees owed for consulting, broking, and advising over issues pertaining to the sale of Cape Town’s Victoria & Alfred Waterfront shopping mall and mega-complex.  The company is also pursuing judgment against the new joint owners of the V&A, Growthpoint and PIC.  Dubai World sold its stake for $1.3 billion, the largest real estate deal in South African history.

Dubai World has indicated that they will fight the charges in court, but legal proceedings have yet to begin.  They have already restructured a massive $25 billion of debt.  One of their subsidiaries, Istithmar World, purchased the stake in Cape Town’s largest tourist attraction in 2006 for about $1.6 billion.

 



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

Devland Holdings, an American consulting company, is suing Dubai World over fees owed for consulting, broking, and advising over issues pertaining to the sale of Cape Town’s Victoria & Alfred Waterfront shopping mall and mega-complex.  The company is also pursuing judgment against the new joint owners of the V&A, Growthpoint and PIC.  Dubai World sold its stake for $1.3 billion, the largest real estate deal in South African history. Dubai World has indicated that they will fight the charges in court, but legal proceedings have yet to begin.  They have already restructured a massive $25 billion of debt.  One of...

Dubai World sued over consulting on Cape Town V&A saleDevland Holdings, an American consulting company, is suing Dubai World over fees owed for consulting, broking, and advising over issues pertaining to the sale of Cape Town’s Victoria & Alfred Waterfront shopping mall and mega-complex.  The company is also pursuing judgment against the new joint owners of the V&A, Growthpoint and PIC.  Dubai World sold its stake for $1.3 billion, the largest real estate deal in South African history.

Dubai World has indicated that they will fight the charges in court, but legal proceedings have yet to begin.  They have already restructured a massive $25 billion of debt.  One of their subsidiaries, Istithmar World, purchased the stake in Cape Town’s largest tourist attraction in 2006 for about $1.6 billion.

 



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

NO COMMENTS

Leave a Reply