Nov. 9 (Bloomberg) -- Dubai has the resources to service its debts for the next seven quarters, a member of the emirate's executive council said amid concerns about the emirate's ability to honor its obligations.

Dubai's asset base outstrips its borrowings ``several fold'' while the government is centralizing debt owed by the state and government-owned companies, said Mohammed Alabbar, who is also chairman of Emaar Properties PJSC, in an e-mailed statement today.

Dubai may need help from Abu Dhabi and the United Arab Emirates government to finance a surge in borrowing that paid for the world's tallest tower, palm tree-shaped man-made islands and stakes in banks worldwide, Moody's Investors Service said in an Oct. 13 report. Dubai's ``potential reliance'' will be ``most significant'' in coming years, Moody's said.

``The Dubai government borrowings were for government institutions or state-owned entities that have been generating positive cash flows and long-term value, as opposed to supporting consumption,'' Alabbar said today.

To contact the reporter on this story: Matthew Brown in London at mbrown42@bloomberg.net

Last Updated: November 9, 2008 08:22 EST