Dubai’s plans to sell $10 billion of bonds for its government support fund will “depend on its needs at the time,” United Arab Emirates Minister of Economy Sultan Bin Saeed al-Mansouri said.
Dubai, the second-largest of the country’s seven emirates, will probably complete raising a second $10 billion by the end of November, Mohammed Alabbar, a member of Dubai’s Executive Council said on Oct. 9. Companies needing assistance may include Nakheel PJSC, which is building palm tree-shaped islands off the emirate’s coast, Moody’s Investors Service said in June.
Issuing bonds is a good option considering the strength of the overall economy, al-Mansouri told reporters in Dubai today. “Look at this country and what it has provided to the people in terms of its economy, the strength of its economy and our reserves,” he said.
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