Developer Nakheel confirmed Thursday it has paid out Dh3.4 billion in cash to its creditors to date and announced the appointment of a consultant to assess claims.
It also said it has resumed work on a third project — the Emirates cluster in International City — after Al Furjan and The Gardens View Villas.
Nakheel started paying trade creditors to whom it owed Dh500,000 or less in March and confirmed it initiated payments of Dh4 billion to its other creditors on June 30. This leaves Dh600 million outstanding.
No comments:
Post a Comment