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FINANCIAL NEWS
Dubai’s Nakheel in talks for a USD200m financing
19 Oct 2011
(MENAFN) A spokesman for Dubai-based Nakheel said that the company entered in talks with banks for a USD200 million financing, Arabian Business reported.
This is Nakheel’s first attempt to tap capital markets since 2009, when Nakheel was forced to restructure its USD16 billion following Dubai’s property market collapse.
The developer will use the funds for new projects, including the expansion of the Dragon Mart mall.
The company, now owned by Dubai government, announced in August that it completed the restructuring and would soon deliver pending projects and pay investors.
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