Dubai shares rose the most in more than a week on optimism Dubai World is closer to resolving its debt restructuring after the state-owned holding company said it may raise as much as $19.4 billion by selling assets. Emaar Properties PJSC, the developer of the world's tallest skyscraper in Dubai, advanced the most in more than a month. Emirates NBD, the United Arab Emirates largest bank by assets, rose 1.2 percent. The DFM General Index climbed 0.9 percent, the most since Aug. 17, to 1,497.47 at the 2 p.m. close in Dubai, bringing the weekly gain to 0.4 percent. The Bloomberg GCC 200 Index increased 0.1 percent. “News regarding Dubai World is being taken well by local investors and they are piling in to make a quick turn,” said Dubai-based Julian Bruce, director of equity sales at EFG-Hermes Holding SAE. “The reports are an indication of progress.” Dubai World, which is seeking to alter the terms on $14.4 billion of bank debt, would probably get $10.4 billion if it sold the assets now and as much as $19.4 billion in eight years, a person with knowledge of the matter said yesterday. Dubai World and a group of its seven biggest lenders that are negotiating on behalf of about 70 creditor banks agreed on these asset values, the person said, declining to be identified. The restructuring plan got approval from bank creditors representing about 80 percent of the loans, Alrroya reported today. Dubai World said on July 22 it will complete the restructuring of liabilities in “coming months.” Emaar gained 2.2 percent, the most since July 21, to AED3.3 and Emirates NBD advanced the most since Aug. 23 to AED2.47. Qatar's gauge gained 0.2 percent and Bahrain's measure fell less than 0.1 percent. The Kuwait SE Price Index dropped 0.4 percent and Oman's MSM30 Index slipped 0.1 percent. Abu Dhabi's ADX General Index advanced 0.2 percent. Saudi Arabia's market was closed for the weekend.