Dubai's government is seeking more investment from the financial sector in its infrastructure projects, including those related to the Expo 2020 global event, a senior official said on Wednesday.

The emirate has planned a range of large projects, spanning a new airport, extension to its metro line and a huge exhibition centre.

Mohammed Al-Shaibani, chief executive of sovereign fund Investment Corporation of Dubai (ICD), said all of the funding was planned and secured for the expo and that it would come mainly from the government.

"We would like to see more participation from the financial sector to support these projects," he said. "We're always open to new ideas from the private sector or international investors to take part in these projects."

HSBC has estimated total spending related to the Expo, including private sector projects, could reach $18.3 billion.

Al-Shaibani said that low oil prices will not alter Dubai's spending or investment plans, adding he did not expect any delays and predicting ground-breaking on the airport revamp would start by the end of 2017.

Oil makes up 2 percent or less of Dubai's economy, he said, although energy is still a key determinant of business confidence in the wider Gulf.

"There won't be a lot of shift in terms of strategy," Al-Shaibani told a media round table.

ICD's assets under management are worth $190 billion, he estimated. These include stakes in Dubai banks Emirates NBD and Dubai Islamic Bank (DIB), Emirates airline, the air services company dnata, and Emirates Global Aluminium, which it owns equally with Mubadala Development, the Abu Dhabi state-owned investment fund.

Dubai's Department of Finance does not have any immediate plans to raise debt and "should really balance the budget", he said.

Al-Shaibani was upbeat on the prospects for Dubai's banks. Emirates NBD and DIB posted profits growth of 7 percent and 44 percent in the third quarter.

"The banks are going to do really well this year. Overall, the results will be very positive. That's what we expect. Next year will be slightly challenging." -Reuters