The story appears on

Page A14

January 25, 2010

GET this page in PDF

Free for subscribers

View shopping cart

Related News

Home » Business » Real Estate

Property Assets Could Cover Debts

STATE-LINKED Dubai World's property and investment assets exceeded US$120 billion at the end of 2009 and could cover its debt of US$57 billion, an Arabic-language daily said yesterday.

Citing a recent internal report shared with creditors, Al Ittihad newspaper said the value of the company's property assets dropped about 35 percent in 2009, compared with US$157 billion in 2008.

"The drop in the value of investment and strategic assets for the group did not exceed 20 percent," the paper said. Dubai World is one of Dubai's largest conglomerates. The group came under fire in November when it said it would restructure US$26 billion in debt.


Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.

沪公网安备 31010602000204号

Email this to your friend