According to a property developer, the board of directors of UAE's Aldar Properties is planning to call a shareholders' meeting soon. They are planning to conduct this meeting to get support for sale of "certain" assets. The main motive behind this assets sale is considered to be offering exchangeable bonds to the investors.

Aldar has informed its board of directors that, the meeting will be held on 13th of January.

They would discuss over subjects like converting debt it issued to Abu Dhabi's investment fund, Mubadala in 2008 into shares of Aldar. This was information was provided in the statement by the property developer.

There were rumors that the Abu-Dhabi developer would receive government aid to meet its fiscal positions. In the month of November, Aldar had informed that they were negotiating with the government to fulfill their cash needs.

However, the chief financial officer had informed the media that period of time that the framework of the proposed cash deal might come out by the year end.

In November Bank of America Merrill Lynch had declared that 9.8 billion dirhams ($2.7 billion) is required by the Abu Dhabi's largest developer by the year 2011. There has been a financial crisis and it needs cash support to carry its business on.

He has added that the strategy aims to spread energy sources so as to ensure energy supply and summon the growing energy demands in Dubai.