PEARL Glorious Investment, a private hotel and property investment and management company, has signed a US$48 million syndication loan through its subsidiary, Fair Capital Properties. The loan will pay for the China Harbour View Hotel and its redevelopment, which will start early next year. The acquisition would be completed by mid-November, Pearl Glorious Investment president Wong Kwan said. Initial work, led by the investment consortium First Capital Properties, will convert the 10,000 square foot site into a high tariff, group B rating, hotel of 310 rooms. The group expects the project to be finished by the end of 1995, with investment of about $850 million. Pearl Glorious was also interested in participating as a minority shareholder in the redevelopment of the Ambassador Hotel, Mr Wong said, but no terms had been finalised.