Nakheel trade creditors have received Dh4.6bn to date - Emirates 24/7

Nakheel, the Dubai-based master developer, has paid Dh4.6 billion to its trade creditors till date.

The company, in a statement, said: “Nakheel has to date made payments of Dh4.6 billion to its trade creditors. Today’s [Tuesday] announcement marks significant progress in our recapitalisation plan, following on from the initial payments to trade creditors of Dh500,000 or less, which commenced in March 2010.”

In January, the company had said it had paid Dh3.9 billion.