Dubai Holding will not sell Jumeirah to service debt

Lawless told Forbes: “Jumeirah and Dubai Holding are part of each other. Jumeirah is not going anywhere.”

Dubai Holding is a private investment conglomerate owned by Dubai ruler Sheikh Mohammed bin Rashid al-Maktoum.

Lawless also denied speculation that Jumeirah’s parent company, Dubai Holding, would soon follow another state-owned company Dubai World in seeking multibillion-dollar debt restructuring, Forbes said.

“Dubai Holding will be fine,” Lawless told Forbes, adding that the present Dubai crisis would soon bottom out.