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Dubai is assuring investors that major property and leisure projects would go ahead and dispatching two top officials on a public relations drive to Washington.
In a bid to restore the reputation of the Gulf business hub famous for major developments such as the world's tallest building, the US Treasury said two senior Dubai officials would meet Treasury Secretary Timothy Geithner to discuss the debt crisis.
Shaikh Ahmed bin Saeed Al Maktoum, chairman of Dubai's Supreme Fiscal Committee, and Mohammed Al Shaibani, chief executive of the Investment Corporation Dubai, also met officials in London on Wednesday, a government source said.
Abu Dhabi's loan has alleviated immediate concerns, but banks remain uneasy about the billions of dollars they lent to fuel Dubai's development boom.
"The headline risk remains, as Dubai World is still involved in a fluid process, so it is still key to proceed the dialogue with international investors," said Ali Khan, managing director and head of brokerage at Arqaam Capital.
Dubai's government may also repay outstanding 2010 and 2011 Islamic bonds issued by Nakheel and provide further funds to Dubai World, the Financial Times said.
Dubai's developers said their projects would still go ahead.
Development on Nakheel's The World islands, one of the assets it might look to sell to ease the debt crunch, is set to begin within months, a company spokeswoman said.
"Thirty-three islands have been handed over to developers in the past year, and since handover they have been working to obtain the necessary design and planning approvals, permits, and titles," she said.
"We anticipate that several developers will be ready to start construction on their islands in the coming months."
Meanwhile, Dubai Properties Group, a unit of Dubai Holding, which is owned by the emirate's ruler, said it was committed to completing its Tiger Woods golf course, a rare piece of good news for the world's top golfer, who has lost a number of his commercial backers since being caught up in a sex scandal.
Goldman Sachs said events in Dubai could delay the recovery of the UAE's real estate sector, already hit hard by the global crisis, and put downward pressure on property prices and rentals.
Meanwhile, gold retail sale volumes in Dubai were stagnant last month and the first half ofthis month as high prices, coupled with the emirate's debt problems, made consumers more cautious about spending, traders said.
