Dubai Holding will not sell Jumeirah Group

Sunday, December 27th, 2009

Dubai Holding, owned by the ruler of the Gulf emirate, will not sell or list its luxury hotelier Jumeirah Group to pay off debt maturing next year, Jumeirah Group’s chairman was quoted as saying on Sunday.

Al Bayan newspaper carried the remarks which Gerald Lawless made in an interview with Forbes magazine, published on Friday.

“Jumeirah and Dubai Holding are part of each other and Jumeirah is not going anywhere,” Lawless told the magazine. “Dubai Holding will be fine.”
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The World Completed

Saturday, June 14th, 2008

Nakheel, one of the world’s largest property developers, today laid the final stone on the breakwater for The World. The last rock was one of 34 million tonnes of rock that were used to construct the 27 km breakwater which surrounds the 300 man-made islands that make up The World. The World team was on hand as the last rock was placed at 8:00am January 10, 2008 by Director Hamza Mustafa.

This historic moment marked the completion of the first phase of one of Dubai‘s most talked about landmarks, which included land reclamation requiring 320 million cubic meters of sand dredged from the sea and the creation of the breakwater that surrounds the 9km wide and 7kms long island destination. The next phase involves handing over islands to developers for construction and building of infrastructure.