Abu Dhabi: Mubadala Development Co, the investment arm of the Abu Dhabi government denied media reports about its plan to invest $1.8 billion (Dh6.6 billion) in property projects in Malaysia.

"Beyond the Medini Project in the Iskandar Development Region, we currently have no other real estate projects in Malaysia," the company said in a statement to Gulf News.

Mubadala however, clarified that they are not closing their doors to "partnerships and real estate opportunities globally that generate sustainable returns which may include future projects in Malaysia".

"Any commitment will be subject to our normal rigorous due diligence and approvals processes and the necessary disclosures being made," the statement said.