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FINANCIAL NEWS
Istithmar World sells London building for $271m
12 Aug 2010
(MENAFN) Dubai World’s overseas investment arm Istithmar World sold a building in London for $270.9 million to an unidentified Russian investor, Britain’s Telegraph newspaper reported.
The building at One Trafalgar Square includes office and retail space and was purchased for $244 million by Istithmar five years ago, the newspaper said.
Dubai World is seeking to offload assets as part of a restructuring plan. The state-owned conglomerate is restructuring $23.5 billion in debt. The Dubai government agreed to take a hit on its claims against the firm, leaving $14.4 billion in bank debt outstanding.
In June, a US investigation halted the sale of Istithmar’s Inchcape Shipping Services, the first Dubai World business put up for sale since the emirate’s debt crisis began, people familiar with the matter said.
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24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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