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Thursday, 26 November 2009 09:11 UAE time

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Dubai World eyes 'bargains' amid global credit crisis

by This email address is being protected from spam bots, you need Javascript enabled to view it  on Thursday, 30 October 2008
PORT OWNER: Dubai World, owner of DP World, is eyeing bargains amid the global credit crunch. (Getty Images)
PORT OWNER: Dubai World, owner of DP World, is eyeing bargains amid the global credit crunch. (Getty Images)

State-owned Dubai World, a holding company which invests in businesses from shipping to real estate, said on Thursday that the global financial crisis had opened up once-in-a-lifetime opportunities across the world.

Chairman Sultan Ahmed bin Sulayem said there were bargains around the world that it "could never take advantage of again."

The owner of the world's fourth-largest ports operator DP World and a stakeholder in casino operator MGM Mirage said he expected the global financial crisis to pass the Gulf.

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"Today there are things in the market worth a fraction of what they should be worth," he said without specifying what sectors the firm was looking at.

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