from this morning's GlobeSt (7/8):
Last updated: July 8, 2008 01:52am
Morgan Stanley in $774M Resort Deal
By Ian Ritter
"HAINAN ISLAND, CHINA-Morgan Stanley is paying $774 million to gain a 30% interest in China-based Agile Property Holding Limited’s development here of a vacation resort. Called the Hainan Qingshuiwan Project, the development is reported by local media to have an area of 9.7-million sm.
Both firms are partnering on the development of the resort. It has been reported that the project will include two 18-hole golf courses and six five-star hotels, two of which will begin construction by the end of the year." ...
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