“Given Dubai Holding’s structure, its restructuring may be more complicated than that of Dubai World, but investors now have a model of what a restructuring could look like,” said Faisal Ghori, principal at Middle East Ventures, a strategy consultancy firm based in Washington, with an office in Dubai.

“Repayment of the Nakheel sukuk has moved Dubai from the precipice,” said Faisal Ghori, Principal at Middle East Ventures. “While the Nakheel sukuk has now been paid what now remains to be seen is how Dubai, and Dubai World will handle their remaining liabilities.”