"I think the Arabtec story is linked to the Aabar deal in the near term; I don't see Arabtec being able to mitigate receivables exposure to Dubai without external support," UBS head of research and senior real estate analyst Saud Masud told Arabian Business on Tuesday. 
Share:  <span class="sent">"I think the Arabtec story is linked to the <span class="company">Aabar</span> deal in the near term; I don't see Arabtec being able to mitigate receivables exposure to Dubai without external support," UBS head of research and senior real estate analyst <span class="analyst">Saud Masud</span> told Arabian Business on Tuesday.</span> Tweet this 

"I think the Arabtec story is linked to the Aabar deal in the near term; I don't see Arabtec being able to mitigate receivables exposure to Dubai without external support," UBS head of research and senior real estate analyst Saud Masud told Arabian Business on Tuesday. Earlier this month, Arabtec CFO Ziad Makhzoumi said that the company was owed $680m in late payments 
Share:  <span class="sent">"I think the <span class="company">Arabtec</span> story is linked to the Aabar deal in the near term; I don't see <span class="company">Arabtec</span> being able to mitigate receivables exposure to Dubai without external support," UBS head of research and senior real estate analyst <span class="analyst">Saud Masud</span> told Arabian Business on Tuesday.</span> Earlier this month, <span class="company">Arabtec</span> CFO Ziad Makhzoumi said that the company was owed $680m in late payments....<span class="sent">"I think the <span class="company">Arabtec</span> story is linked to the Aabar deal in the near term; I don't see <span class="company">Arabtec</span> being able to mitigate receivables exposure to Dubai without external support," UBS head of research and senior real estate analyst <span class="analyst">Saud Masud</span> told Arabian Business on Tuesday.</span> Earlier this month, <span class="company">Arabtec</span> CFO Ziad Makhzoumi said that the company was owed $680m in late payments. Tweet this 

"I think the Arabtec story is linked to the Aabar deal in the near term; I don't see Arabtec being able to mitigate receivables exposure to Dubai without external support," UBS head of research and senior real estate analyst Saud Masud told Arabian Business. 
Share:  <span class="sent">"I think the <span class="company">Arabtec</span> story is linked to the Aabar deal in the near term; I don't see <span class="company">Arabtec</span> being able to mitigate receivables exposure to Dubai without external support," UBS head of research and senior real estate analyst <span class="analyst">Saud Masud</span> told Arabian Business.</span> Tweet this 

"I think the Arabtec story is linked to the Aabar deal in the near term; I don't see Arabtec being able to mitigate receivables exposure to Dubai without external support," UBS head of research and senior real estate analyst Saud Masud told Arabian Business. 
Share:  <span class="sent">"I think the Arabtec story is linked to the <span class="company">Aabar</span> deal in the near term; I don't see Arabtec being able to mitigate receivables exposure to Dubai without external support," UBS head of research and senior real estate analyst <span class="analyst">Saud Masud</span> told Arabian Business.</span> Tweet this 

The news comes after Aldar announced its first ever quarterly loss, totalling over 500m dirhams for the fourth quarter of 2009. Saud Masud, analyst at investment bank UBS said in a note: "Aldar may face a liquidity funding gap over the next 24 months. Gap funding may be addressed via further government support, asset sales or capital markets, hence further leveraging of the balance sheet and/or shares issuance cannot be ruled out." Receivables, or money from units sold, make up 56 percent of Aldar's total liquidity, according local paper Arabian Business 
Share:  The news comes after <span class="company">Aldar</span> announced its first ever quarterly loss, totalling over 500m dirhams for the fourth quarter of 2009.<span class="sent"> <span class="analyst">Saud Masud</span>, analyst at investment bank UBS said in a note: "<span class="company">Aldar</span> may face a liquidity funding gap over the next 24 months.</span> Gap funding may be addressed via further government support, asset sales or capital markets, hence further leveraging of the balance sheet and/or shares issuance cannot be ruled out." Receivables, or money from units sold, make up 56 percent of <span class="company">Aldar</span>'s total liquidity, according local paper Arabian Business....The news comes after <span class="company">Aldar</span> announced its first ever quarterly loss, totalling over 500m dirhams for the fourth quarter of 2009.<span class="sent"> <span class="analyst">Saud Masud</span>, analyst at investment bank UBS said in a note: "<span class="company">Aldar</span> may face a liquidity funding gap over the next 24 months.</span> Gap funding may be addressed via further government support, asset sales or capital markets, hence further leveraging of the balance sheet and/or shares issuance cannot be ruled out." Receivables, or money from units sold, make up 56 percent of <span class="company">Aldar</span>'s total liquidity, according local paper Arabian Business....The news comes after <span class="company">Alda Tweet this 

Aldar may face a funding gap of up to AED6.5bn ($1.76bn) over the next 24 months, a UBS analyst said in a research note on Wednesday. "Based on our assumptions we believe Aldar may face a liquidity funding gap over the next 24 months. Gap funding may be addressed via further government support, asset sales or capital markets, hence further leveraging of the balance sheet and/or shares issuance cannot be ruled out," Saud Masud, head of research and senior analyst of real estate said of the Abu Dhabi based master developer. Receivables, or money from sold units, make up 56 percent of Aldar's total liquidity, according to Masud's research 
Share:  <span class="company">Aldar</span> may face a funding gap of up to AED6.5bn ($1.76bn) over the next 24 months, a UBS analyst said in a research note on Wednesday. "Based on our assumptions we believe <span class="company">Aldar</span> may face a liquidity funding gap over the next 24 months.<span class="sent"> Gap funding may be addressed via further government support, asset sales or capital markets, hence further leveraging of the balance sheet and/or shares issuance cannot be ruled out," <span class="analyst">Saud Masud</span>, head of research and senior analyst of real estate said of the Abu Dhabi based master developer.</span> Receivables, or money from sold units, make up 56 percent of <span class="company">Aldar</span>'s total liquidity, according to Masud's research....<span class="company">Aldar</span> may face a funding gap of up to AED6.5bn ($1.76bn) over the next 24 months, a UBS analyst said in a research note on Wednesday. "Based on our assumptions we believe <span class="company">Aldar</span> may face a liquidity funding gap over the next 24 months.<span class="sent"> Gap funding may be addressed via further government support, asset sales or capital markets, hence further leveraging of the balance sheet and/or shares issuance cannot be ruled out," <span class="analyst">Saud Masud</span>, head of research and senior analyst of real estate said of the Abu Dhabi based master developer.</span> Receivables, or money from sold units, make up 56 percent of <span class="company">Aldar</span>'s total liquidity, according to Masud's research. Tweet this 

Khouri declined to comment on Abu Dhabi plans, but said in the future debt offices of the federal and emirate levels are going to coordinate issuance plans. Dubai World creditors expect to see the option of a full repayment over a longer period of time, while some others are willing to take a haircut to receive their money back faster. In the case of a significant haircut, banks in the UAE will be forced to take new writedowns, further eroding their capital base, analysts said. Saud Masud, UBS analyst, said: "We believe investors are already expecting a significant haircut to the DW debt entailing $22 billion in obligations, ie: roughly 40 cents with a payout over several years.". He added: "Such a haircut would likely challenge the bankability of UAE financials as books may need to be adjusted further." 
Share:  Khouri declined to comment on Abu Dhabi plans, but said in the future debt offices of the federal and emirate levels are going to coordinate issuance plans. <span class="company">Dubai World</span> creditors expect to see the option of a full repayment over a longer period of time, while some others are willing to take a haircut to receive their money back faster. In the case of a significant haircut, banks in the UAE will be forced to take new writedowns, further eroding their capital base, analysts said.<span class="sent"> <span class="analyst">Saud Masud</span>, UBS analyst, said: "We believe investors are already expecting a significant haircut to the DW debt entailing $22 billion in obligations, ie: roughly 40 cents with a payout over several years.".</span> He added: "Such a haircut would likely challenge the bankability of UAE financials as books may need to be adjusted further."....Khouri declined to comment on Abu Dhabi plans, but said in the future debt offices of the federal and emirate levels are going to coordinate issuance plans. <span class="company">Dubai World</span> creditors expect to see the option of a full repayment over a longer period of time, while some others are willing to take a haircut to receive their money back faster. In the case of a significant haircut, banks in the UAE will be forced to take new writedowns, further eroding their capital base, analysts said.<span class="sent"> <span class="analyst">Saud Masud</span>, UBS analyst, said: "We believe investors are already expecting a significant haircut to Tweet this 

All totaled, the emirate may have accumulated over $100 billion of debt during the boom years. Since the bottom fell out in 2008, Dubai real estate prices have plunged 50% from their peak and shares traded on the Dubai Financial Market have lost two thirds of their value. The stock market could take another 10 years to return to peak levels, Saud Masud, head of Middle East research at UBS told The Journal. 
Share:  All totaled, the emirate may have accumulated over $100 billion of debt during the boom years. Since the bottom fell out in 2008, <span class="company">Dubai</span> real estate prices have plunged 50% from their peak and shares traded on the <span class="company">Dubai</span> Financial Market have lost two thirds of their value.<span class="sent"> The stock market could take another 10 years to return to peak levels, <span class="analyst">Saud Masud</span>, head of Middle East research at UBS told The Journal.</span>...All totaled, the emirate may have accumulated over $100 billion of debt during the boom years. Since the bottom fell out in 2008, <span class="company">Dubai</span> real estate prices have plunged 50% from their peak and shares traded on the <span class="company">Dubai</span> Financial Market have lost two thirds of their value.<span class="sent"> The stock market could take another 10 years to return to peak levels, <span class="analyst">Saud Masud</span>, head of Middle East research at UBS told The Journal.</span> Tweet this 

Dubai World said it would seek to delay repaying all loans until May, sparking the biggest plunge in developing nation stocks. "The proposal will be a meaningful one," said Saud Masud, Dubai based head of Middle Eastern research at UBS. Dubai World's advisers are asking the Dubai Financial Support Fund for money to fund interest payments on the loans in the meantime, the bankers said. 
Share:  <span class="company">Dubai World</span> said it would seek to delay repaying all loans until May, sparking the biggest plunge in developing nation stocks.<span class="sent"> "The proposal will be a meaningful one," said <span class="analyst">Saud Masud</span>, Dubai based head of Middle Eastern research at UBS. <span class="company">Dubai World</span>'s advisers are asking the Dubai Financial Support Fund for money to fund interest payments on the loans in the meantime, the bankers said.</span>...<span class="company">Dubai World</span> said it would seek to delay repaying all loans until May, sparking the biggest plunge in developing nation stocks.<span class="sent"> "The proposal will be a meaningful one," said <span class="analyst">Saud Masud</span>, Dubai based head of Middle Eastern research at UBS. <span class="company">Dubai World</span>'s advisers are asking the Dubai Financial Support Fund for money to fund interest payments on the loans in the meantime, the bankers said.</span> Tweet this 

Dubai World said in November it would seek to delay repaying all loans until May, sparking the biggest plunge in developing nation stocks. "The proposal will be a meaningful one," said Saud Masud , Dubai based head of Middle Eastern research at UBS AG. 
Share:  <span class="company">Dubai World</span> said in November it would seek to delay repaying all loans until May, sparking the biggest plunge in developing nation stocks.<span class="sent"> "The proposal will be a meaningful one," said <span class="analyst">Saud Masud</span> , Dubai based head of Middle Eastern research at UBS AG.</span>...<span class="company">Dubai World</span> said in November it would seek to delay repaying all loans until May, sparking the biggest plunge in developing nation stocks.<span class="sent"> "The proposal will be a meaningful one," said <span class="analyst">Saud Masud</span> , Dubai based head of Middle Eastern research at UBS AG.</span>...<span class="sent">"The proposal will be a meaningful one," said <span class="analyst">Saud Masud</span> , <span class="company">Dubai</span> based head of Middle Eastern research at UBS AG. "I would highly doubt that what they come out with will be accepted and everyone moves on.". Deloitte LLP and Moelis & Co., <span class="company">Dubai</span> World's advisers, are asking the <span class="company">Dubai</span> Financial Support Fund for more money to fund interest payments on the loans in the meantime, the bankers said.</span> Tweet this