Nakheel, the repayment to creditors again

Nakheel, the repayment to creditors again 

Future development of more optimistic 

According to the Gulf centralized information website arabianbusiness.com, Nakheel Company, Dubai real estate developers have played a major role in reshaping the landscape chiefs in February 26 announced that it has further repaid AED206 million yuan (about 560,000 U.S. dollars ) to creditors as part of its debt restructuring. Including the latest installment, the company suffered severe 2008-2009 Dubai real estate crash has paid a total of AED923 Wan since its 2011 reorganization. 

High-profile casualties 

Nakheel, the property is in a crisis suffered the most in the period 2008-2009, when prices fell by more than 60% in the emirate of Dubai, one of the developers. Market crash forced to drastically reduce its expansion plans, and to take in $ 1.6 billion debt restructuring agreement in 2011 in Dubai real estate developers. 

Signs of a comeback 

Nakheel, things have picked up since the Reorganization with the developer announced last month that it had delivered 4,000 units arranged during the Dubai real estate market since August 2011.The following year proved to be successful activation of the company, profit for the year increased by 57% . 

Revenue increased 91 percent over the same period to AED7.8 billion. Good results in the emirate's real estate industry has finally begun to stabilize. Signs that the market continues to rise, the troubled real estate developer, seemed ready to carry the momentum into 2013. 

2013 and beyond 

Year has brought some important developments likely to have a positive impact Nikheel, in order to help their quest to restore. This month Dubai Sheikh Mohammed bin Rashid Al Maktoum ordered to begin the development of two major projects on the artificial island Palm Jumeirah Island (Palm Jumeirah), which is the company's flagship Nakheel development. The project includes $ 680 million dollar Nakheel (Nakheel) Mall and the toe projects, including shops, computer controlled fountains and a marina. 

Earlier this week, the real estate developer announced plans to build 170 new apartments, Jumeirah Palm Island (Palm Jumeirah) as part of the Azure condominium project. Nakheel company is expected to provide about 3,000 units this year, Dubai's real estate market. 

Meanwhile, the company continues to pay its creditors, today announced that it has paid $ 5.6 billion debt. This brings the Restructuring of approximately $ 251 million, the total repayment by the company. 

"The company spokesman said:" We remain focused on meeting our restructuring stakeholder commitment. The statement also said, Nakheel and Dubai company to restore its contribution to the real estate sector and broader economic growth in the UAE's intentions.