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Short-term capital shortages and crunch in global credit markets will not impact Dubai's long term investment plans and growth strategies, Saud Ba'Alawy, executive chairman of Dubai Group, said |
Short-term capital shortages and crunch in the international credit markets will not have any major impact on Dubai's long term investment plans and growth strategies, Saud Ba'Alawy, executive chairman of Dubai Group, said.
Ba'Alawy executive chairman of Dubai Group said: "We are not overly worried about the current global financial situation. Dubai's strength is not merely a function of availability of capital alone. More than capital it is the leadership and capability of people that has built Dubai from almost nothing."
Describing the current shortage of credit as a short-term turbulence, he said such cyclical fluctuations in capital markets will not have any major impact on the long term strategies of Dubai. Ba'Alawy said falling global interest rates, combined with the huge amounts of liquidity being pumped into the financial system by governments all over the world would ease the crunch in the medium term.
