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Pure Gold plans 200 stores in India by 2015
Initial plans were for the real estate arm to have a collection of property developments such as Meydan City, the Lagoons and the Dubai Waterfront. But the plan did not get executed as the global financial crisis hit the region and only a small amount of investment, relative to the target, was made.
Nakheel fund set to restart projects
Companies working on the Palm Jebel Ali, Waterfront and other Nakheel projects have been limbo as they tried to negotiate with the developer. But yesterday’s plan spelled out a clear road map for getting paid.
Nakheel shakes up its management
Nakheel has replaced its chairman, Sultan Ahmed bin Sulayem, and appointed a new board of directors. The new chair is Ali Rashid Ahmed Lootah, vice chairman of Mashreqbank. The other new board members are: Khalid Mohamed Salem Bakheet, Khalil Issa Ahmed Awad, Adel Khalifa Al-Shair, and Ibrahim Hussein Al-Fardan. Nakheel has several high profile unfinished projects, including the Palm Deira, The World and Dubai Waterfront.
Dubai bust hits tower chief
Two of Mr O’Donnell’s former Australian colleagues at Dubai Waterfront, Matt Joyce and Marcus Lee, are fighting fraud charges in the emirate over the sale of a plot of land to an Australian developer, Sunland.
Factbox: Dubai World restructuring plan
Limitless World, which once attempted to build a 75-kilometre inland waterway called the Arabian Canal, and which has a $1.2 billion loan repayment due later this month, was left out of from Dubai World’s restructuring plan.
UAE infrastructure to touch Dh80bn
The quarterly UAE Infrastructure Report by Business Monitor International (BMI) reckoned that infrastructure growth in the UAE this year will be fuelled by Abu Dhabi, and to a lesser extent by transport infrastructure projects in Dubai, such as the Green Line Metro project, the Al Maktoum International Airport and the expansion of Dubai Airport.
