Kirk
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Joined: 01 Jan 1970
Posts: 2292
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 Posted: Mon Nov 24, 2008 7:07 pm Post subject: Dubai fire sale of assets dismissed as 'untrue' |
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Mohamed Alabbar, Member of Dubai's Executive Council and Chairman of Emaar Properties, has dismissed speculation that the emirate is in discussions to sell off some of its assets to cover its debts as 'absolutely untrue'. Rumours are rife that Dubai has been in talks with the government of Abu Dhabi about it buying some of the emirate's assets, and he pointed to speculation over the future of both Emaar and Emirates airline, and the 'confusion' over how much Dubai owes and how it will finance that debt, stating: 'The government has not sold a thing and will not sell a thing.'
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