Thursday 7 July 2011

Full: Dubai to take over Limitless, Nakheel - The National

Dubai World will transfer two of the emirate's biggest property developers to the Government as it completes a debt restructuring in the wake of the financial crisis.

Agreements have been signed on the terms for the separation of Nakheel and Limitless 'operationally and financially' from Dubai World, the board of directors said in a statement.

'Legal ownership will transfer to the Government of Dubai upon completion of Nakheel and Limitless's financial restructuring,' the statement said.

No comments:

Post a Comment