Dubai is mulling the privatisation of home-grown corporate champions as a means to start paying down its estimated $110bn in debts, senior officials said.
The emirate is “working on opening the capital of some of our leading companies to the public,” Sheikh Ahmed bin Saeed Al Maktoum, chairman of Emirates Airlines and a three-man committee charged with plotting the emirate’s economic recovery, told reporters.
Mohammed al-Shaibani, director general of the ruler’s court and another member of the committee, said Dubai is currently working on proposals to sell off stakes in strategic domestic companies.
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