* Final Dubai World debt deal to be signed in a week
* No need to inject more money into support fund - official
DUBAI, March 9 Dubai is under no pressure to
make asset sales this year and its flagship conglomerate Dubai
World [DBWLD.UL] will sign a final agreement on its $25 billion
debt restructuring next week, a top official said on Wednesday.
Sheikh Ahmed bin Saeed al-Maktoum, chairman of Dubai's
Supreme Fiscal Committee and an uncle of the emirate's ruler,
also said Dubai's core business was strong.
"There is no pressure on us for sale of Dubai World assets,"
he said. "We have a period of eight years. Always the question
is asked, is an asset up for sale. Anything can be sold if the
offer is good and tempting."
Dubai World plans to sell its prized assets over a period
of eight years to generate as much as $19.4 billion to pay off
creditors, according to the restructuring proposal document
obtained by Reuters.
"The final document will be signed a week from now," Sheikh
Ahmed said on the sidelines of an event.
Sheikh Ahmed, who also runs state-owned Emirates airline,
has spearheaded Dubai's efforts to dig out from a crippling
crisis which erupted openly in 2009 after Dubai World said it
would seek a debt standstill.
The glitzy Gulf Arab emirate needed a last-minute $10
billion bailout from neighbour Abu Dhabi and has been busy
restructuring key state-linked firms' debts.
Asked whether Dubai would inject more money into the Dubai
Financial Support Fund -- set up to support state-linked firms
-- Sheikh Ahmed said there is "no need for that now but Dubai
always stand behind its companies."
He declined to comment on whether Emirates airlines would
tap bond markets this year. But, speaking at a trade show in
Berlin on Wednesday, the carrier's president said the airline
had dropped bond plans due to regional unrest. [ID:nLDE7281US]
In December, Dubai's ruler appointed Sheikh Ahmed as
chairman of Dubai World. [ID:nLDE6BB0AE]
(Reporting by Dinesh Nair and Mahmoud Habboush; writing by
Praveen Menon, Editing by Amran Abocar)