State-linked Dubai entities have entered talks to divest Asian assets as the emirate steps up the pace of its overseas asset sales to help ease its debt burden.
Dubai-based Emaar Properties is talking to potential buyers of its majority stake in Singapore-based distributor and retailer RSH, according to people familiar with the matter. RSH, which works with brands including Zara and Mango, operates across Asia and the Middle East.
A unit of Dubai Holding, which is seeking to sell its 40 per cent stake in Malaysia's Bank Islam, has appointed Rothschild to seek potential buyers. Dubai Holding is owned by Dubai's ruler, Sheikh Mohammed bin Rashid Al Maktoum.
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