SWF Radar Limitless

Reuters reports that, “State-owned investor Dubai World, which is building the world’s tallest tower, is looking at port, logistics and urban development investments in Russia and is not slowing any of its projects due to the global financial crisis, a senior official said on Monday. ‘We are continuing with our projects without stopping or slowing down internationally or regionally,’ Dubai World Secretary-General Farid Ahmed told reporters, adding the firm was not reconsidering the $40 million tower development…Dubai World unit, Limitless, is building a residential project in Russia’s Khimki region to house about 12,000 people, Ahmed said. Speaking on the sidelines of a Russia investment conference in Dubai, he said the company had also been planning a new city, the Great Domodedovo project, with 150,000 units.”

Emirates Business writes that, “Limitless, the global real estate arm of Dubai World, has major plans to expand its international presence.”

The Telegraph reports that, “The takeover of Minerva by the Gulf state of Dubai is this weekend hanging in the balance after the troubled property company rebuffed a takeover proposal from its Middle Eastern suitor. Limitless, the property development arm of the multi-billion pound Dubai World group of companies, tabled an indicative offer for Minerva last month.”

The Telegraph reports that, “The Gulf state of Dubai has tabled an approximate £240m bid to buy Minerva, the troubled property company. Limitless, the property development arm of the Dubai World group of companies owned by the Gulf state, recently submitted a takeover proposal that values Minerva at 140p-150p a share, said sources.”

Gulf News reports that, “The project portfolio of Limitless currently under planning and development has exceeded $100 billion (Dh367 billion) with nine master-planned developments, a senior official said on Tuesday. … This makes Limitless - a Dubai World company - which is constructing a Dh41 billion ($11 billion) Arabian Canal and a Dh48 billion Downtown Jebel Ali master-planned communities, one of the top developers in the UAE.”

The Economic Times reports that, “Several Dubai-based companies, who have invested billions of dollars in many real estate and infrastructure projects in India, are keen to boost it further in one of the fastest growing economies in the world. The Dubai companies - Emaaar, Limitless and DP World have large operations and projects in India, but are keen to enter the infrastructure projects like the airports sector.”

The Guardian reports that, “Property group Minerva has been a rumoured takeover target for a while, and a share surge this morning has drawn out one possible bidder. Limitless, a subsidiary of sovereign wealth fund Dubai World, said it is in the early stages of deciding whether or not to bid, although it has not made any formal approach.”

Gulf News reports that, “Emaar and Limitless have invested more than Dh550 billion between them in markets throughout the world, while fellow property heavyweight Nakheel, sister company of Limitless, is on the verge of its first overseas venture.”

Sail World reports that, “Limitless, a unit of Dubai World, the government holding company that includes Dubai Ports World, will manage the design and construction of the Arabian Canal, described as the largest, most complex civil engineering project ever undertaken in the Middle East.”