We have long highlighted the risk in Dubai’s corporate sector and the large debts that government-related entities (GREs) have accrued. This Update provides our latest estimates of these debts. The key point is that GREs appear to have weathered the large debt repayments due in the past couple years, but a significant amount of debt remains outstanding and with more supply in the key real estate – residential and hospitality – sectors still due to come online, fears will continue to linger.
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