Dubai Pearl, which earlier this year revived its $4 billion Pearl project, is looking to sell $6 billion of its hospitality assets to raise financing for the mixed-use project, it chairman said.

'We do not want to sell as desperate asset sales but only to strategic buyers,' Abdul Majeed Al-Fahim told reporters on the sidelines of an industry event in Dubai.   

The company's project includes hotels from brands such as Bellagio, MGM Grand and Skylofts.
   
Construction of the 20 million square feet Dubai Pearl project was restarted in March.

The Pearl developer, which is backed by a consortium of investors led by Abu Dhabi's Al Fahim Group, had sold 30 percent of the units in the project including residences and offices, Fahim said.

Final completion of the project, which was scheduled for 2013, has been postponed until end-2014 due to the impact of the global financial crisis, Al-Fahim added. - Reuters