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Dubai developer Nakheel’s $16bln financial restructuring completed

Posted on 25 August 2011

Nakheel completed a Dh60 billion (US$16.33bn) financial restructuring yesterday and pledged to deliver almost 8,000 homes in the next year. The announcement is likely to cheer investors who have waited years for their properties to be finished while also adding to the supply pressure on the depressed property market.
“We don’t need more supply to come on to the market,” said Majed Azzam, an analyst at AlembicHC in Dubai……………………………………….Full Article: Source


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