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Dubai World eyes Russia investments despite crisis

Published 11/10/2008, 03:33 AM
Updated 11/10/2008, 03:36 AM

*Dubai world eyeing further investments in Russia

*Says has no problems funding projects

DUBAI, Nov 10 (Reuters) - Government-owned investor Dubai World said on Monday it was looking at port, logistics and urban development investments in Russia, and was not slowing any of its projects due to the global financial crisis.

Dubai World Secretary-General Farid Ahmed told reporters that Limitless, a real estate development arm of the company, was building 150,000 homes in Russia.

"We are continuing with our projects without stopping or slowing down internationally or regionally," he said, adding that Dubai World had no problems funding its projects.

Dubai World Chairman Sultan Ahmed bin Sulayem said last month that the company, whose businesses range from shipping to real estate, saw once-in-a-lifetime opportunities stemming from the financial crisis and remained bullish on its home market.

Dubai World is the holding company of Limitless and Nakheel, the developer of three palm-shaped man-made islands off the coast of Dubai. It also owns the world's fourth-largest port operator, DP World . (Reporting by John Irish, Writing by Lin Noueihed)

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