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HAVANA-In a $20-million deal exemplifying the expanding globalreach of commercial real estate, a Middle Eastern company hasacquired a 46% stake in a Canadian company focused on creatingresort properties in Cuba. The infusion from Dubai-based ProfileInvestments LLC will assist implementation of the company'splatform in Cuba, according to Walter Berukoff, executive chairmanof Leisure Canada.
"All of the elements are now in place to accelerate developmentof our world-class asset base in Cuba and become that nation'spremier hospitality and real estate development company," saysBerukoff in revealing the commitment. Profile's verticallyintegrated operation should enhance that effort, adds Berukoff,whose firm is traded on the Toronto Stock Exchange.
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