Middle East Economic Survey

VOL. LIII

No 37

13-Sep-2010

UAE

Dubai Holding Subsidiary Secures Debt Repayment Extension

The subsidiary of Dubai Holding that handles property and hospitality assets, Dubai Holding Commercial Operations Group (DHCOG), has reached an agreement with creditors to extend its existing revolving credit facility of $555mn until 30 November. This follows an initial two-month extension granted to the company in July. The extension is required to enable all those involved to...