{"id":23589,"date":"2016-08-22T16:53:45","date_gmt":"2016-08-22T09:53:45","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=23589"},"modified":"2016-08-22T15:12:11","modified_gmt":"2016-08-22T08:12:11","slug":"dubai-developer-nakheel-brings-an-end-to-debt-restructuring-saga-with-dh4-4bn-payment","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubai-developer-nakheel-brings-an-end-to-debt-restructuring-saga-with-dh4-4bn-payment\/","title":{"rendered":"Dubai developer Nakheel brings an end to debt restructuring saga with Dh4.4bn payment"},"content":{"rendered":"


\nNakheel, the developer of Dubai’s palm-shaped islands, has repaid an Islamic bond, bringing an end to its debt restructuring saga.The Dubai government-owned company transferred funds to agent Deutsche Bank to cover the Dh4.4 billion sukuk maturing later this month, chairman Ali Rashid Lootah told reporters in Dubai. The securities, which have a profit rate of 10 per cent, were issued to contractors and suppliers in 2011 as part of a plan to reorganise more than $16bn of liabilities.Dubai World, Nakheel’s former parent and one of the emirates’ three main holding companies, roiled global markets in November 2009 when it said it may halt payments on about $25bn of debt. Dubai borrowed $20bn from the UAE Central Bank, Abu Dhabi and two of its banks to help it pay liabilities.Since the financial crisis and the debt restructuring, Nakheel has rebounded from losses by boosting recurring revenue from hotels and retail outlets as well as developments on the Palm Jumeirah island and other projects. Mr Lootah said the company achieved its business plan two years ahead of schedule and will be debt free on August 25. Nakheel will award more than Dh8bn in construction contracts this year, he said.business@thentaional.aeFollow The National’s Business section on Twitter
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\nSource : thenational.ae
\nRead more…Dubai developer Nakheel brings an end to debt restructuring saga with Dh4.4bn payment<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Nakheel, the developer of Dubai’s palm-shaped islands, has repaid an Islamic bond, bringing an end...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-23589","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-68t","jetpack-related-posts":[{"id":42623,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/the-developer-behind-dubais-palm-islands-enjoys-record-profits\/","url_meta":{"origin":23589,"position":0},"title":"The developer behind Dubai\u2019s palm islands enjoys record profits","date":"February 2, 2017","format":false,"excerpt":"\r A clean slate for\u00a0the formerly debt-ridden property giant Aerial view of Palm Island in Dubai, UAE. Basar\/Shutterstock Nakheel, the real estate behemoth responsible for the palm-shaped islands dotting the Persian Gulf, announced yesterday its record takings in 2016. Net profits for Nakheel reached AED4.96 billion (USD1.35 billion) last year,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3597,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/nakheel-reports-19-full-year-gain-despite-fall-in-q4-profit\/","url_meta":{"origin":23589,"position":1},"title":"Nakheel reports 19% full-year gain despite fall in Q4 profit","date":"February 4, 2016","format":false,"excerpt":"\r \r Fourth-quarter profit at the Dubai developer Nakheel fell by 28.7 per cent, company figures show, as Dubai's housing market continued to slow.According to figures provided by Nakheel, profit for the three months to the end of December 2015 fell to Dh770 million from Dh1.08 billion a year earlier.Nakheel,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":42559,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-handovers-and-retail-expansion-drive-nakheel-to-record-figures\/","url_meta":{"origin":23589,"position":2},"title":"Property handovers and retail expansion drive Nakheel to record figures","date":"February 1, 2017","format":false,"excerpt":"\r Nakheel, the company that built Palm Jumeirah, yesterday said net profit last year increased by 13 per cent on higher property handovers and retail expansion despite a softening property market in Dubai. The government-owned developer, which was at the centre of the Dubai World crisis in 2009, said that\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":30675,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubais-nakheel-reports-22-per-cent-rise-in-profit-for-third-quarter\/","url_meta":{"origin":23589,"position":3},"title":"Dubai's Nakheel reports 22 per cent rise in profit for third quarter","date":"October 19, 2016","format":false,"excerpt":"\r The Dubai-based property developer Nakheel said that its profit rose 22 per cent during the third quarter, reflecting what it described as \"stable market conditions.\"Net income for the three months to the end of September hit Dh955m, compared with Dh781m in the same period last year, but down from\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":11022,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/handovers-lift-nakheel-first-quarter-profit\/","url_meta":{"origin":23589,"position":4},"title":"Handovers lift Nakheel first-quarter profit","date":"April 20, 2016","format":false,"excerpt":"\r \r First-quarter profit at Nakheel increased by an annualised 8 per cent as it opened new shops and hotels and handed over homes.The Dubai government-owned property developer said net profit came in at Dh1.47 billion for the three months to the end of last month from Dh1.35bn a year\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4879,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubai-developer-nakheel-targets-chinese-businessmen-with-dragon-mart-expansion\/","url_meta":{"origin":23589,"position":5},"title":"Dubai developer Nakheel targets Chinese businessmen with Dragon Mart expansion","date":"February 16, 2016","format":false,"excerpt":"\r Born in Vienna and educated in India, Sanjay Manchanda is a fellow member of the Institute of Chartered Accountants of India.\r \r Source : South China Morning Post\r Read more...Dubai developer Nakheel targets Chinese businessmen with Dragon Mart expansion","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/23589"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=23589"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/23589\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=23589"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=23589"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=23589"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}