Both firms are partnering on the development of the resort. Ithas been reported that the project will include two 18-hole golfcourses and six five-star hotels, two of which will beginconstruction by the end of the year.
Agile has resorts and other residential-commercial propertiesunder development throughout China. Its deal with Morgan Stanelyprompted Moody's to affirm Agile's "Ba3" corporate rating.
In March Morgan Stanley Fund acquired Shinsei Bank's Tokyoheadquarters for about $1.5 billion. The month before, MorganStanley and Starwood Capital Group sold a Westin hotel here toSingapore-based GIC Real Estate.
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