MGM Mirage bullish on CityCenter

New York: Project operator MGM Mirage has said it does not expect Dubai World's restructuring to affect their joint City-Center project, an $8.5 billion Las Vegas Strip residential, entertainment and shopping complex.

"CityCenter is fully funded, on schedule and ready to begin welcoming guests starting next week. Our joint venture is unaffected by Dubai World's announcement," an MGM Mirage spokeswoman said.

Last month, Dubai World and MGM Mirage said apartment prices in CityCenter would be cut by 30 per cent. Buyers had balked at closing deals signed at the height of the housing bubble.

The 67-acre complex of entertainment facilities, hotels, condominiums and shops will start a phased opening on the Strip in December.