Dubai World could repay bank loans in full

Monday, December 28th, 2009

Top Dubai officials have been in talks with creditors in London on the possible repayment of all the banking debt owed by the troubled subsidiaries of the Dubai World group, a newspaper said on Sunday.

“The possibility of repaying all bank loans in full was discussed as a medium-term possibility” in the talks held between the delegation and financial leaders in London, The National said, quoting participants.

Dubai sent its ruler’s uncle, Sheikh Ahmed bin Saeed al-Maktoum, who heads its Supreme Financial Committee, and his deputy Mohammed al-Shaibani, to London to discuss Dubai World’s debt problems, after asking last month for a six-month freeze on payments to allow parts of the group to be restructured.

Nakheel Tower

Sunday, October 19th, 2008

Nakheel Tower is a supertall skyscraper that is proposed to be built in Dubai, United Arab Emirates by developer Nakheel. The project was previously called Al Burj (Arabic: البرج‎ “The Tower”).

On Oct 5, 2008, Sultan Ahmed bin Sulayem, Chairman of Dubai World, talked to the audience about the Nakheel Harbour & Tower project, a more than 1 kilometer high tower of 270 hectares, in Dubai, United Arab Emirates.