Open to Sales
Dubai has signaled it may be open to the sale of some of its most valuable assets with Sheikh Ahmed bin Saeed Al Maktoum, chairman of the Dubai Supreme Fiscal Committee and the new chairman of Dubai World, saying Nov. 28 that Dubai may sell stakes in some of its “leading” companies to help reduce debt. Among Dubai’s most prized domestic assets are Emirates Airline, hotel operator Jumeirah Group LLC, Dubai Maritime City and Jebel Ali Free Zone.
“There has been an evolution in the official discourse, which has led to a very pragmatic and realistic approach,” said Standard Chartered Plc senior economist Philippe Dauba- Pantanacce. “All options are now on the table and this bodes well for the medium-term resolution of the debt overhang.”
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