The government is keeping a close eye on the financial developments in Dubai, but the crisis has not affected the building of SmartCity Malta, Finance Minister Tonio Fenech said in reply to a Parliamentary question.

He said that the investors in SmartCity had transferred their capital to Malta, the development of SmartCity was continuing, and so far there appeared to be no plans for a rethinking.

The government, however, was monitoring the situation carefully and with concern since a crisis such as this had an impact across the globe, Mr Fenech said.

See also

'Dubai financial turmoil impacts SmartCity parent company's ratings' at:

http://www.timesofmalta.com/articles/view/20091209/local/dubai-financial-turmoil-impacts-smartcity-parent-companys-ratings

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