PARIS (Dow Jones)--Franco-Dutch property company Unibail-Rodamco (UL.FR) has no worries for its current program of investments, but is more cautious on projects in the longer term, Chairman and Chief Executive Guillaume Poitrinal said Tuesday.
Speaking in an interview on French radio station BFM, Poitrinal attributed the company's caution to the rise in construction costs and the current market situation. He noted however the company doesn't expect any of its current projects to be cancelled.
In July Unibail-Rodamco dropped its medium-term growth forecasts due to the downturn in the real estate market and an economic environment marked by financing difficulties.
Unibail-Rodamco is set to present its new forecasts with its full-year results in February 2009.
-By Thomas Varela, Dow Jones Newswires; +33 1 4017 1740; thomas.varela@dowjones.com
(END) Dow Jones Newswires
September 23, 2008 04:34 ET (08:34 GMT)
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