Sama Dubai, a property developer owned by the ruler of the emirate, said on Thursday it is considering job cuts and reviewing its project pipeline.

'While it is true that Sama Dubai like many other organisations is currently reviewing its project pipeline to adapt itself to changing economic realities, no decision has been taken vis-à-vis employee lay-offs, or putting on hold any of our officially announced projects,' a company spokesman said in a statement sent to Reuters.

The company says it currently only has eight announced projects, although it did not say whether it is going ahead with unannounced schemes.

Sama Dubai is the international real estate arm of Dubai Holding with projects located in Dubai, Qatar and Tunisia.

Dubai faces a slowdown in loan growth and real estate activity as it struggles with the fallout from the global credit crisis.

Damac Holding, Dubai's largest private developer, said last week it would axe 200 jobs due to the worsening global outlook, while Emaar Properties, the developer behind the world's tallest tower, said it was reviewing its jobs policy. - Reuters