The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookiesbefore using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.

Restructuring threat in Dubai

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) last year, and engineer Doncasters, which lost £125 million. DIC has debts of $2.9 billion, all through bank loans, and accounts for just over one-fifth of Dubai Holdings’ total obligations of $10.5 billion, according to bankers.

Heavy losses at DHCOG

The conglomerate’s main unit, Dubai Holding Commercial Operations Group (DHCOG), is also under pressure after it announced losses of $6.2 billion for 2009. The company’s revenue fell to Dh9.5 billion ($2.6 billion) from Dh13.2 billion the previous year, while its assets shrank to Dh124.5

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree