Dubai World says it is being more 'cautious'
United Arab Emirates: Tuesday, April 29 - 2008 at 12:07
Dubai World, the investment arm of the Dubai government, said on Tuesday it is taking a more cautious approach in its investment planning because of the subprime housing crisis, reported Reuters. CEO Yu Lai Boon said the firm, which has a portfolio of over $200bn, has no plans to sell its US real estate assets for the time being, but it is still seeking investments in transport and logistics, financial services and for opportunistic deals in the real estate market. He said the firm is in a holding pattern until it can better determine the full extent of the economic crisis on China and India.
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Jeff Florian, Senior ReporterTuesday, April 29 - 2008 at 12:07 UAE local time (GMT+4)
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