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$1.6 Billion Loss

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The OC Register's Jon Lanser calculates that the purchase and ultimate failure of SoCal developer John Laing cost parent company Emaar $1.6 billion. But the Dubai developer is not having such a bad year. From the press release: "In key achievements, Emaar marked the official opening of The Dubai Mall, the world’s largest shopping and entertainment destination, and The Dubai Fountain, the world’s tallest performing fountain." You can see the fountain here. But does Sinatra play, too? [OC Register]