Dubai’s debt troubles show no sign of easing, with some investors believing that a restructuring of Dubai Holding, a private investment company for Sheikh Mohammed, is inevitable.
The conglomerate, whose business interests include hospitality, healthcare, energy, tourism, finance and real estate, is in the spotlight after one of its subsidiaries announced that it was delaying until September repayment of $1.25 billion of debt due last month. Dubai International Capital (DIC), an alternative investment fund, reached agreement with its bank creditors to the three-month delay. Some sources believe it will eventually be wound up because of poor performance. DIC’s assets include UK hotel chain Travelodge, which posted pre-tax losses of £102 million ($151.6 million)...
