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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.
The Calculus Behind Dubai’s Nakheel Repayment
The Dubai government’s decision to pay the equivalent of $1.7 billion to redeem in full the sukuk instruments issued by crisis-hit property developer Nakheel was a painful one. But people familiar with the decision-making said the alternative would have been much worse, a possible showdown with hedge funds and distressed debt investors that could leave Nakheel with unfinished property projects and knocking confidence in the wider economy.
Bank creditors will reply to Dubai World proposal soon
The Government of Dubai has proposed funding Dubai World and its property development subsidiary Nakheel with up to $9.5 billion in cash and refinancing the rest of the companies’ borrowings over five and eight-year plans.
Dreams can still come true in Dubai’s property scene
Nakheel still has commitments to complete infrastructure on some of its larger projects, such as The World islands, Palm Deira, and the Waterfront, so plots of land can be handed over to sub-developers. It also remains to be seen if plans for The Universe, another collection of reclaimed islands, and the Nakheel Harbour and Tower development, which was expected to include a skyscraper taller than the Burj Khalifa – the tallest tower in the world – will ever get off the ground.
Fibre polymer replaces steel bars in major projects
“FRP composite material is an alternative solution for reinforcing concrete structures as opposed to the traditional steel reinforcing bars,” said Tamer El Maaddawy, Assistant Professor from the same department at the UAE University. “Such rebars have been used in marine docks and waterfront structures such as Nakheel’s Palm Cove Canal in Dubai Waterfront.
Nakheel to pay creditors $8.2b in June
Dubai: Nakheel, the property arm of government-owned conglomerate Dubai World, plans to pay its bank and trade creditors $8.2 billion (Dh30.1 billion) in June, Ittihad reported yesterday.
Hotels ‘must sustain revenues’ instead of cutting costs
It is anyone’s guess that last year has gone into the books as one of the worst for the hotel industry with revenue per available room (RevPAR) – an industry benchmark – practically collapsing as travellers stayed away.
Nakheel mega-projects won’t see light of day
Iconic buildings such as the Trump International Hotel and Tower and Nakheel Harbour and Tower were never built, while man-made island projects like the World, Dubai Waterfront and two more palm-shaped islands remain unfinished.
