Dubai-based property developer Emaar Properties said on Monday it had 2,500 employees in Dubai, but said it was to "reorient" its growth strategies in view of the global financial crisis.

MEED reported on Saturday Emaar was looking into cutting 250 jobs, which according to the London-based magazine would reduce the developer's total workforce to some 50 employees after it laid off around 200 employees in November 2008.

"With reference to recent media reports on its human resources restructuring, Emaar Properties clarifies that the company currently has over 2,500 employees in Dubai and a further 2,500 staff members in its various international joint ventures," Emaar said in an emailed statement.

"Emaar is committed to enhancing our long-term profitability to add value to our stakeholders. To address the new challenges that we face, it is important to reorient our growth strategies and align our business model to tackle new realities," the statement said.

Emaar posted a fourth-quarter loss of Dh1.77 billion ($481.9 million) due to writedowns from its US unit John Laing Homes.