As part of the agreement, Dubai World has contributed $2.96billion for 50% of the equity in the project. MGM Mirage picks up$2.47 billion in cash. In addition, the JV retained $490 million tofund any short-term construction costs.
Known as CityCenter Holdings LLC, the joint venture will own100% of the mixed-use site, which will include luxury residentialas well as a resort and retail complex. The project is alreadyunder construction and MGM Mirage will remain the developer.
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