Monday 29 March 2010

Nakheel to distribute $1.5bn before deal



Nakheel Properties has pledged to spend US$1.5 billion (Dh5.51bn) to finish stalled developments even before creditors agree to a debt restructuring plan presented last week by its parent, Dubai World.

The proposals are contained in a letter seen by The National that was sent to thousands of investors in stalled Nakheel projects the day after a $23.5bn debt restructuring plan was presented to creditor banks of the Dubai World conglomerate.

The plan includes $8bn of fresh funds for Nakheel, the developer of Dubai’s Palm islands.
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1 comment:

  1. AnonymousMonday, March 29, 2010 3:51:00 pm

    Dear Mr.RUPERT NEIL BUMFREY, please clear your emirates Bank Credit card dues of AED 25,313.48...contact me on pamela@tahseel.com

    ReplyDelete

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