SFGate.com - "Dubai-based firm buys California home builder for $1 billion" (6-2-06)

"A real estate company based in United Arab Emirates acquired California home builder John Laing Homes for $1 billion in cash."

"Newport Beach-based John Laing is the second-largest privately held home builder in the United States."

"Its acquisition marks the first U.S. venture by Dubai-based Emaar Properties, one of the world's largest developers."

Emaar Properties is busy not only in California now but is currently the developer on the Burj Duabi project which will include the tallest building in the world (designed by U.S. architect SOM). Check out Emaar's website and see the billions they are spending on development around the world.

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