Government injects cash in Real Estate major Nakheel
Funds have been received by Nakheel, the state-owned developer of the emirate's palm-shaped islands, from the Dubai government on account of completing projects and pay outstanding obligations.
Via an official statement, while referring to a government bond sale earlier this year, Nakheel confirmed that the company has benefited from an injection of capital from the bond issue.
Nakheel further added that the value and other details relating to this funding remain confidential.
Nakheel, which has hired U.S.-based market intelligence firm Ipreo to locate the bond holders, is supposed to hold talks with the owners of $4 billion of its debt as it looks to refinance or restructure borrowing.
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