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UPDATE 1-Dubai World eyes Russia investments despite crisis

Mon Nov 10, 2008 7:18pm IST
 
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* Dubai World eyeing further investments in Russia

* Says has no problems funding projects

(Adds details)

DUBAI, Nov 10 (Reuters) - State-owned investor Dubai World, which is building the world's tallest tower, is looking at port, logistics and urban development investments in Russia and is not slowing any of its projects due to the global financial crisis, a senior official said on Monday.

"We are continuing with our projects without stopping or slowing down internationally or regionally," Dubai World Secretary-General Farid Ahmed told reporters, adding the firm was not reconsidering the $40 million tower development.

Ahmed said Dubai World had no problems funding its projects, but declined to elaborate on how the company would raise financing in the future given tighter global credit markets.

Dubai World unit, Limitless, is building a residential project in Russia's Khimki region to house about 12,000 people, Ahmed said.

Speaking on the sidelines of a Russia investment conference in Dubai, he said the company had also been planning a new city, the Great Domodedovo project, with 150,000 units.  Continued...

Russian Finance Minister Alexey Kudrin poses with his G20 colleagues and central bank leaders during the family photo at the G20 Finance Ministers meeting at a hotel in St. Andrews, Scotland. REUTERS/POOL New
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