FOX NEWS: Nearly nine years after the Sept. 11 terrorist attacks, the bi-state agency that operates the World Trade Center is looking for a private partner to help manage the 1,776-foot office tower that is being built at Ground Zero -- and one of two companies under consideration may have ties to the Middle East.
The bidding process for private partners for the "Freedom Tower" has been whittled down to two companies: Durst Organization and Related Companies, Fox News legal analyst Peter Johnson Jr. reports.
The Port Authority of New York and New Jersey will soon decide which partner will manage and help market the tower, which has been renamed One World Trade Center. The partner will invest at least $100 million into the office tower and memorial building.
Related Cos. is an international real estate group whose investors include Goldman Sachs; MSD Capital, LP; Mubadala Development Co.; Kuwait Investment Authority; and Olayan Group, according to the company’s website.
Mubadala Development Co. is owned by the Abu Dhabi, United Arab Emirates, government.
Johnson reports that Related Cos. is involved in a joint project with the UAE-backed company, which is chaired by the Crown Prince of Abu Dhabi. Johnson said Related Cos. also has ties to the Saudi Arabian royal family and to financiers based in Dubai. (+ video) >>> FOXNews.com | Monday, June 14, 2010
