Value of assets 'boosts confidence in Dubai'

Recent steps by the Dubai government to disclose the emirate's total debts and value of assets should reassure property investors and calm financial concerns, experts suggest.

Mohamed Alabbar, chairman of the Dubai government's Financial Advisory Council, moved to end speculation over the country's finances by disclosing total debts of $80 billion (£52 billion) this week.

The value of its assets, meanwhile, total $350 billion (£227 billion), with that figure expected to grow significantly next year, according to Emirates Business.

Sanjay Uppal, of banking group Emirates NBD, said: "The value of assets revealed will give investors a strong sense of comfort and increased confidence that Dubai's medium and long-term goals are intact."

Recent government involvement in the emirate's real estate finance sector would also help reassure those buying property in Dubai that it was committed to stabilising the sector, added Mary Nicola, Standard Chartered's mena economist.

The Advisory Council announced this week that it would be monitoring the supply of property in Dubai to help meet buyer demands.