Reuters reported that Aldar Properties has not put any of its projects on hold as a result of the global financial crisis and has no plans to lay off staff.

It quoted Mr Ousama Ghannoum marketing director of Aldar as saying that "All projects that we started are going on as planned and we are not laying off any person. We have tight delivery schedules and we are going at full speed."

It may be noted that Aldar, Abu Dhabi's biggest property developer, is leading the Abu Dhabi government's drive to develop residential and leisure districts.