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The charges were recorded “due to the overall downturn in global market conditions and the uncertainty associated with the future profitability of certain projects”, the company said in a statement to NASDAQ Dubai.
Dubai Holding has interests in property, industry, aerospace and investments, and includes: Tatweer, the developer of Dubailand; the Jumeirah hospitality group; and the private equity specialist Dubai International Capital. It was established to execute the economic agenda of the emirate and diversify away from oil. It owns 250 companies and has a network of offices in overseas cities including Chicago, Frankfurt, Tokyo and Shanghai.
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