MELBOURNE businessmen Matt Joyce and colleague Marcus Lee have been granted bail after serving nine months in a Dubai prison, on suspicion of fraud.

The businessmen worked for the Nakheel company's multi-billion Dubai Waterfront development, and were arrested in January and jailed for six months before charges of misappropiation were laid. An application to hear their case was granted last month.

The pair will be forced to hand in their passports. The first witness will appear on November 17.

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