| Kippreport.com

Dubai World, not Dubai, may sell assets

December 7, 2009 4:23 by kippreport

Government-owned Dubai World may sell off some of its assets to raise cash and resolve its debt problem, Abdul Rahman al-Saleh, the director-general of Dubai’s Finance Department told Al Jazeera television. “It is premature to announce any plans now, but the main goal is that Dubai World will continue in the future as a company with a new framework to face challenges,” he said.

“Part of obtaining finance is selling assets … belonging to the company and not the government,” he said.  “There is confusion in the media that the government plans to sell assets … The company has foreign investments and real estate investments abroad. There is nothing to prevent selling these assets,” al-Saleh added.

Tags: assets, debts, Dubai, Dubai World, government