Dubai World alters Las Vegas project

08 January 2009

Las Vegas-based CityCenter Holdings, a joint venture between MGM Mirage and Dubai World subsidiary Infinity World, yesterday said it has cancelled the residential component of its CityCenter complex. It also postponed the opening of The Harmon Hotel and Spa to late 2010. With the cancellation of The Harmon residential component, the company now anticipates cost savings of $600m, it said in a statement. By postponing The Harmon Hotel by a year, it will defer $200m in construction costs to complete the interior fit-out of The Harmon, it said.

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