Dubai and the companies it controls are taking advantage of a rally in global markets to pay off loans and seek cheaper funds from international investors as the emirate tackles its $85 billion (Dh312.16bn) debt burden.

The Government of Dubai yesterday invited investors to attend a round of fund-raising presentations starting on Thursday in Europe, Asia and the UAE. The last time Dubai raised funds from international investors was in April last year.

In another positive sign, Nakheel, the heavily indebted developer owned by Dubai World, repaid Dh4.4bn in debt to banks last week.

The National