Dec 13 2012

Nakheel repays AED201m sukuk payment

By Staff Developer has paid back Dh9.6bn to creditors since November 2009
Dubai-based property developer Nakheel said on Wednesday it had repaid Dh201 million Islamic bond (sukuk).

" Nakheel is pleased to confirm that it has made the necessary arrangements enabling Deutsche Bank, the registrar and paying agent for the trade creditor Sukuk, to make the third profit payment of Dh201 million to all sukuk holders on the due date (December 15, 2012).

"With this payment, Nakheel has paid a total of Dh9.6 billion to its trade creditors and contractors since November 2009, providing the necessary stimulus in the local economy, particularly in the real estate sector that is showing signs of stability and growth."

Today, Nakheel said it had sold all villa plots in Jumeirah Islands for over Dh55.4 million. The plots were snapped up at a company auction for Dh513 per square feet, a 46 per cent premium over their bid price of Dh350.

© Emirates 24|7 2012

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