MB: Impact of Dubai crisis on Iskandar minimal
30 November 2009 , By The Star
The Iskandar growth region in southern Johor is not expected to be affected by the Dubai debt crisis which jolted world financial markets on Friday.
Mentri Besar Datuk Abdul Ghani Othman said this was because only one company from Dubai had invested in a real estate sector in the growth region.
Speaking to reporters here, he said the company, Damac Properties, was involved in a property project on an eight-hectare site in the Iskandar region.
“Since only one company from Dubai is involved in Iskandar, we don’t think the Dubai financial crisis would have an effect on the regional growth area.
“Most of the investors in the growth area are from Saudi Arabia, Kuwait and Abu Dhabi,” he said after presenting 31 cows to villages in Ledang for the Aidiladha celebrations yesterday.
Abdul Ghani also said the Dubai company had yet to start operation.
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