Dubai based developer takes Canadian stake

24 December 2007
Dubai-based Profile Group has received approval for the acquisition of 46 per cent of Vancouver-based developer Leisure Canada and its operating subsidiary Wilton Properties.

Leisure Canada is a developer of resorts in Cuba. Projects currently under development include five-star hotels with over 4,200 hotel rooms and PGA championship golf courses.

The profile Group is developing a variety of projects in Dubai, including projects Dubai Waterfront, Dubai Sports City, Dubailand, and International City.

In 2006 Profile purchased the island of Thailand on The World development off the coast of Dubai for $20 million. The developer plans to build a $110 million residential resort on the island. Known as Jasmine Garden, the development will involve the construction of a spa, nine beach villas, 56 studio suites, 56 one-bedroom duplexes, nine four-bedroom beach or water villas, and 10 private yacht berths (MEED 15:9:06).

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