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FINANCIAL NEWS
Dubai funds to restart construction on golf estates
15 Jun 2011
(MENAFN) The Dubai government will fund the completion of Nakheel’s Jumeirah Golf Estates (JGE), a USD10 billion master development with more than 306 homes over 1119 hectares and the site of the Dubai World Championship, Emirates 24/7 reported.
After freezing construction on half of the four courses in 2009, Nakheel will resume infrastructure work with Dubai government funding. The company anticipates the completion of the project in 2012, the developer announced.
Nakheel announced in February that it was negotiating with the original contractors to confirm delivery programs and the finalize the schedule for completion of the project.
JGE was originally planned by Leisurecorp, a subsidiary of Dubai World, before the company merged with Nakheel in summer 2010.
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