The first group to recognize Las Vegas as a good investment opportunity was the mob. For them, Las Vegas was not only a great money machine; it offered the added advantage of becoming the law rather than running from it. They were right and made a bundle, and then Wall Street bought out the mob, or at least our mayor say’s so, and made a lot of money. This caught the attention of another group, who are these new guys. Well, whenever Wall Street is in trouble, it goes to these guys to bail it out. An example would be Dubai Port World.
One such entity is Dubai Port World, which bailed out City Group. Last year, Dubai World invested $2.7 billion to gain a 50 percent interest in CityCenter and put $2.4 billion into MGM Mirage stock.
Australia-based Crown Ltd purchased Canary Casino for 1.8 Billion Dollar ($1,800,000,000) and a 20 percent stake in Fontainebleau on the Strip for $250 million, and a few tens of millions of dollars here and there.
Harcourt Developments of Ireland has committed $800 million in construction financing for Sullivan Square, a 16-acre mixed-use development near Durango Drive and the Las Vegas Beltway.
Tamares Group of Lichtenstein, is the largest private land holder downtown after acquiring a 40-acre mixed-use site along with the Plaza hotel and Las Vegas Club. Down town Las Vegas land values have quadrupled in the last 4 years and are currently selling for about 8 million dollars per acre.
Since Japan can never be left out, Kazuo Okada, founder of Japanese Aruze Corp., owns a 20 percent share of Wynn Resorts.
The above is only a small sample of 30 billion dollars in Las Vegas commercial real estate which are already finished or will be finished in 3-4 years.
The great expansion of Las Vegas was the result of 15 billion dollars in Las Vegas real estate investments from 1986-2001. Compare this with 30 billion dollars in 3-5 years and you will start to see the big picture.
Las Vegas real estate is being sold at fire sale prices due to the financing and mortgage crunch in the United States. So I’ll say again, if you have a few million dollars sitting in the bank and doing nothing for you, CALL ME ASAP, or you will wish you did. All I am trying to do is to save you a great deal of sadness and regret in the future.
Don’t forget, Google was offered to a now extinct search engine boss for one million dollars and he refused, think about how feels now. Call me. lol
Related web site pages: Buying condos for sale in Las Vegas, Nevada, investment commercial real estate for sale in Las Vegas, Nevada, Las Vegas new homes for sale, Las Vegas Commercial Real Estate News, Las Vegas economic news
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