Pearl Dubai looks for international investment

Property developer the Pearl Dubai has said that it is seeking to attract international investment, with particular interest from the Far East, for its $4bn Dubai Pearl development, while also considering a future funding strategy for phase two of the development, Zawya Dow Jones has reported. Designed by German architect Peter Schweger, the project which will house residential apartments as well as arts and leisure centres, is due for delivery in 2013 and will be completed in two phases. The first phase of building begins Thursday and will cost $2.5bn, funded by equity, promoters' loans and concluded pre-sales, the developer said.