»»Nakheel to scale back projects
Dubai-based Nakheel plans to scale back some of its projects because of the global economic slowdown, Bloomberg has reported. The state-owned developer said it will reassess its 'immediate business objectives to accommodate the current economic climate'. Nakheel did not provide details of the projects that are being reassessed, but the developer said it will not affect company's long-term business objectives and is a responsible approach in line with current global economic conditions.
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