Dubai companies tackling debts

Dubai’s largest companies are starting to deal with an estimated US$85 billion (Dh312.2bn) in debt and obligations that will require repayments every few months in the years ahead.

Dubai Holding said today it had fully paid off the last instalment of a three-year $300 million loan facility for its property developer, Sama Dubai.

“As we have previously stated, Dubai Holding and its entities will meet their financial obligations in full and on the maturity date,” said a spokesman for the company. “The Sama Dubai loan matured on October 5. The final instalment of $50m was settled on the same day.”