Debt difficulties at Dubai World have prompted investors to turn their attention to another of the emirate’s big conglomerates, Dubai Holding.
Best known for signature property developments such as Jumeirah Beach Residence and high-profile investments abroad such as its 2005 purchase of the tourist attraction Madame Tussauds, Dubai Holding is one of three principal vehicles for implementing the emirate’s development strategies.
Dubai’s success last week in raising an additional US$10 billion (Dh36.71bn) from Abu Dhabi to help service debts at the companies it controls appears to have done little to alleviate concerns that Dubai Holding might follow in Dubai World’s footsteps and seek a deal with creditors to ease its debt burden.
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