Conglomerate Dubai Holding's DUBAHC.UL main unit said it has extended a $555 million loan due November 30 to December 30, the third extension of the facility.
Loss-making Dubai Holding Commercial Operations Group (DHCOG) had previously delayed the loan in July and then September. 'The extension is required to finalize a new long-term facility,' it said on Wednesday.
DHCOG, a unit of the conglomerate owned by the Gulf Arab emirate's ruler, took a big hit from its exposure to Dubai's property crash and said in June it may resort to asset sales to deal with its debt after posting a $6.2 billion loss for 2009.
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