Business | Property
Abu Dhabi realty projects on track
Mohammad Rashed Al Hameli, Director-General of the Abu Dhabi Chamber of Commerce and Industry (ADCCI), said on Tuesday he is hopeful the private sector will continue to grow next year despite challenges posed by the global financial crisis, which inevitably, would slow down the economy.
- By Himendra Mohan Kumar, Staff Reporter
- Published: 23:42 December 23, 2008
Abu Dhabi: Mohammad Rashed Al Hameli, Director-General of the Abu Dhabi Chamber of Commerce and Industry (ADCCI), said on Tuesday he is hopeful the private sector will continue to grow next year despite challenges posed by the global financial crisis, which inevitably, would slow down the economy.
"We get private sector growth indicators...the big real estate developers haven't stopped any of their projects," Al Hameli told reporters.
Al Hameli said a slew of measures taken by the federal government and the central bank in recent months to pre-empt the slowdown in growth have helped in improving the confidence levels of private sector players.
"Abu Dhabi's projects are on track," said Al Hameli.
He also said the government is working on the Foreign Investment Law.
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