UPDATE 1-Abu Dhabi's Mubadala says lost $3.21 bln in 2008

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ABU DHABI, April 23 (Reuters) - Abu Dhabi government investment body Mubadala made a loss of 11.8 billion dirhams ($3.21 billion) last year due to the global financial crisis, it said in its 2008 annual report posted on its website.

The company's report can be accessed on www.mubadala.ae/en/category/investor-relations-12/annual-report-1

The company said it was hit "by reductions in the estimated fair value of certain investment properties and impairment charges against a number of Mubadala's quoted and unquoted investments, caused by sharp falls in global financial stock markets and the value of other investments."

Though Mubadala's revenues during the year rose almost fourfold to 6.66 billion dirhams from 1.79 billion in the previous year, the extra income was swamped by losses on investments.

Mubadala owns a 51 percent stake in Dolphin Energy, a joint venture with France's Total (TOTF.PA: Quote, Profile, Research) and U.S. firm Occidental (OXY.N: Quote, Profile, Research).

It holds a 5 percent stake in Ferrari (FIA.MI: Quote, Profile, Research) and a 25 percent stake in German firm LeasePlan (VOWG.DE: Quote, Profile, Research).

Mubadala also owns a 50 percent stake in Emirates Aluminium (EMAL), which says it will be the world's largest single-site aluminium smelter complex. (Reporting by Amena Bakr and Inal Ersan, editing by Will Waterman)