Mubadala Development, the investment arm of the Abu Dhabi government, hasn't ruled out a further bond sale to finance more than $5bn (€3.6bn) worth of projects in the emirate.

"We aim to optimise our capital structure through a flexible approach to funding. We are continually assessing the market and considering options as appropriate," a Mubadala spokesperson said in an emailed response to Zawya Dow Jones when asked whether the company plans to issue further bonds.