"Dubai, facing debt repayments of about $ 50 billion over the next three years, is finally getting serious about selling off assets to raise money — a key component of its repayment strategy.
Most investors are now confident that the freewheeling emirate will recover from its 2009-2010 crisis, when a property crash nearly forced state-linked companies to default on billions of dollars of debt.
But until recently, most of the big companies had not followed through on their plans to sell assets as part of debt restructuring deals with creditors. This left a question mark over exactly where Dubai Inc would find the money it needed."
'via Blog this'
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