Nakheel has announced a recapitalisation plan which includes a commitment from the Government of Dubai to provide approximately $8 billion of new money to Nakheel.
A significant proportion of the new cash being made available by the Government, through the Dubai Financial Support Fund (“DFSF”), will be used by Nakheel to complete the development of those projects nearing completion, providing immediate assurance for customers in these projects.
Funds provided by the Government of Dubai, acting through the DFSF, will be used by Nakheel to complete the development of projects currently nearing completion. Of the new money, $1.5 billion will be made available even before the proposal is agreed by creditors, to allow Nakheel to begin completing construction of its near-term projects and help restore confidence to you and the broader Dubai real estate market.
