Construction Co. For $1B Dubai Resort Project Gets Financing

Law360, New York (February 12, 2014, 7:09 PM EST) -- China State Construction Engineering Corp. on Wednesday closed on an undisclosed amount in project financing from Industrial and Commercial Bank of China Ltd. for the new $1 billion Viceroy Hotel at Palm Jumeirah in Dubai, United Arab Emirates.

Beijing-based multinational construction company CSCEC secured the project financing from lender ICBC, according to a statement from Jones Day, which advised CSCEC on the transaction.

CSCEC was awarded in June 2013 the contract to build the luxury five-star Viceroy Hotel at Palm Jumeirah, which will boast 481 guest rooms...
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