Monday 20 April 2009

Upbeat Dubai World defies crunch

DUBAI World, owners of the Victoria & Alfred Waterfront, in Cape Town, are going ahead with major investment projects in South Africa despite the global economic slump.

Billions of dollars’ worth of developments worldwide, including in South Africa, have been shelved by major developers.

But this week Dubai World chairman Sultan Ahmed Bin Sulayem said: “We are proceeding with new projects and investments. Our investments in South Africa continue to perform strongly in the current market ... and we are certain that our long-term investment vision in South Africa will continue to produce positive results.”

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