The road show, followed by a similar program for European investors in June, would be a non-deal initiative, indicating that there may not be any bond issue in the near future.

The strategy is aimed at “providing regular updates to both existing and prospective fixed income investors around the world,” said the statement from Dubai Government, which is struggling with the debt restructuring of its top firms that were badly hit by the global economic slowdown.

Dubai’s debt woes sparked off an unprecedented flight of capital from the region after state-owned Dubai World announced a standstill on $26 billion in debt in November.

HSBC and Mitsubishi UFJ Securities International will be arranging meetings that are scheduled to take place on Aug. 26 in Hong Kong and Aug.. 27 in Singapore, Dubai’s Department of Finance said.

The move comes as a report separately revealed on Friday that Asia’s rapidly rising middle class, which mainly comprises the fixed income segment of the society, would be the key to rebalance the global economy, making it more consumption-driven rather than relying heavily on external demand.

Asian consumers were likely to spend $32 trillion by 2030 that would be 43 percent of the total global consumption, said the multilateral lending agency Asian Development Bank (ADB) in its annual statistical report.

Dubai, which is trying to woo investments from Asia, launched a $6.5 billion bond program last October, made up of $4 billion euro medium term notes and a $2.5 billion Islamic loan. It placed almost $2 billion in five-year Islamic bonds in late October.

In April, Dubai Electricity and Water Authority raised $1 billion in an issue that offered a coupon of 8.5 percent.

On regional front, April was the busiest month in terms of issuance frequency and value, with 17 issuances raising a total of $6.1 billion, accounting for 25.1 percent the total first half issuances value, according to a study by Kuwait Financial Centre, or Markaz.

Government and sovereign issuances dominated the majority of the amount raised in the first half of 2010, with around $17.2 billion or a 71 percent of the total amount raised, the study added.

According to Markaz, Kuwait raised the largest amount in the first half of this year, with $10.8 billion, representing 44.7 percent of the total value of 31 issuances.

However, in terms of frequency, Bahrain was the most active, issuing 37 bonds and sukuk representing 45.1 percent of the total issuances and raising $2 billion. Saudi Arabia raised around $4.2 billion through five issuances, followed by Qatar with $3.3 billion through three issuances and the UAE, with a value of around $2 billion.

Oman was the least active amongst the GCC issuers with only one issuance by Al Omaniya Financial Services, raising a total of $4 million.

The study showed the year 2009 was a record year in terms of issuances, with a value of around $61.4 billion for bonds and $11.3 billion for sukuk. It was way above the 2008 issuances, involving around $14.6 billion bonds and $8 billion sukuk.