Nakheel chairman Ali Rashid Lootah announced today that work on Ibn Battuta Residences, comprising two towers of 531 apartments located next to Ibn Battuta Mall, are due for completion at the end of 2019. Nakheel is planning to expand its…
Tag: Nakheel
Nakheel achieves mission impossible and will be debt free from Thursday
Nakheel PJSC said today that it has repaid a AED 4.4bn ($1.2bn) Islamic bond, bringing an end to a debt restructuring process that started in 2009. The company transferred funds to agent Deutsche Bank AG yesterday the full amount of…
IMF says UAE economy strong, inflation rising, Dubai debts now $142bn
The Article IV consultation staff report on the UAE published on 3 July 2014 says the UAE economy is robust, its surpluses will continue but inflation could hit 5 per cent by the end of the decade. Dubai’s government debts are…