Nakheel confirmed a profit payment of Dhs220m on its trade creditor Sukuk.
Instructions have been sent to Deutsche Bank, the registrar and paying agent for the Sukuk, to make the profit payment to all Sukuk holders on the due date of 15 June 2014 against the Sukuk issued amount of Dhs4.4bn to date.
A Nakheel spokesman, said, “We continue to honour our financial commitments and to implement our revised business plan, further helping the recovery of the real estate sector in Dubai. In turn, investor and contractor trust in Nakheel continues to grow.”
Nakheel is one of the world’s leading developers and a key player in realising the vision of Dubai for the 21st century: creating a world class destination for living, business and tourism. Nakheel has delivered – and continues to enhance – an iconic portfolio of innovative landmark projects in Dubai across a range of sectors including residential, commercial and leisure.
Nakheel’s current portfolio of developments in Dubai includes Palm Jumeirah, The World, Deira Islands, Jumeirah Islands, Jumeirah Village, Jumeirah Park, Jumeirah Heights, The Gardens, Discovery Gardens, Al Furjan, Warsan Village and International City. Together, these span nearly 14,000 hectares and provide homes for more than 200,000 people. Retail developments include Dragon Mart, Ibn Battuta Mall, Nakheel Mall, The Pointe at Palm Jumeirah and a growing number of neighbourhood malls. Nakheel is also developing hotels at Palm Jumeirah, Deira Islands, Ibn Battuta and Dragon Mart.