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Sat 18 Oct 2008 11:43 AM

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Jumeirah Group unaffected by financial crisis

Dubai hotel company to press ahead with global expansion, firm 'well-funded' - chairman.

Dubai hotel company the Jumeirah Group will press ahead with its global expansion plan, which includes opening 60 hotels by 2012, despite the global financial crisis, its executive chairman said in comments published on Saturday.

Gerald Lawless said the crisis will not affect the Jumeirah Group and that the company is "well-funded", reported UAE daily Gulf News.

"The present financial crisis won't affect us much as we are a solid company, and the hotels that we've signed up are being developed by strong partners," Lawless told the newspaper.

"They are all well-funded. We have a long-term growth plan and most of the new hotels will open in two to three years time."

Jumeirah Group currently manages 11 hotels and resorts, including the Burj Al-Arab and Jumeirah Beach Hotel in Dubai.

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