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Dubai government plans to woo European investors

Dubai government plans to woo European investors
By Rob Morris on Jun 02, 2010

Efforts to allay fears over investing in Dubai will see the emirate’s finance officials staging a roadshow in Europe to champion its financial health and investment potential.

The non-deal roadshow is expected to start on June 4, according to a spokesperson from the Dubai Department of Finance (DDF).

Speaking to Zawya Dow Jones, the spokesperson said the DDF was “conducting a series of fixed income investor meetings in Europe as part of a non-deal investor update in line with its strategy of regular ongoing investor communications as set out last year”.

Finance officials hope investors will be less cautious about acquiring Dubai assets following last week’s principle agreement on a $23.5bn debt restructure deal between Dubai World and its creditors.

International investors were reluctant to pump cash into Dubai after the property downturn exposed the emirate’s $100bn debts in 2009.