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Union Properties receives positive response from banks on debt restructuring

Union Properties PJSC (UPP) plans to repay 2 billion dirhams ($545 million) of debt this year to cut interest costs and convince banks to...

Dubai real estate sector latest developments and their impact

The real estate market in Dubai witnessed mixed performance in 3Q 2010, popular developments with proper amenities and infrastructure fared better than others. The...

Dubai World’s approval from creditors to change terms of debt to...

According to UBS AG and Moody’s Investors Service, Dubai World’s approval from creditors to change the terms on $24.9 billion of debt is likely...

Dubai World expects to complete the restructuring over the coming months

Dubai World (the “Company”) announces that it held a meeting in Dubai today with its creditor banks to present formally the proposed...

Is Dubai World the Only Problem in Town?

Last week Dubai World announced that it was creeping closer to a deal with its creditors. Welcome news not only for investors,...

GDP, Oil Price, Inflation and Debt Restructuring

The Minister of Economy, Mr Sultan Al Mansouri, today made remarkable comments about the local economy during the launch of the UAE’s economic report...

Dubai International Capital Asks for Debt Extension

Investment firm Dubai International Capital, along with a committee of banks, requested a three-month debt extension Thursday till September 30th, though the debt size...

Dubai World Agrees Headline Economic Terms in Principle with Coordinating Committee

Dubai World (the “Company”) is pleased to announce today that headline economic terms have been agreed in principle with the Coordinating Committee (“CoCom”), representing...

Creditors to Dubai World have accepted an offer from the conglomerate,...

Lenders to Dubai World  have accepted an offer from the conglomerate to settle $14.2 billion in outstanding bank claims, according to a report in...

Nakheel to Pay $8.2 Billion to Creditors in June

Nakheel PJSC plans to pay creditors and contractors $8.2 billion in June, according Al Ittihad newspaper.

Nakheel’s Executive Board Reshuffled

The executive board of Nakheel was completely reshuffled today, reported Reuters. The Dubai government said in a statement the new board would help prioritize...

Nakheel to offer sukuk to trade creditors

Nakheel trade creditors will be offered a large-scale Islamic bond as part of a debt restructuring plan issued by parent firm Dubai World last...

Assets Change Hands

Meydan on Thursday signed a memorandum of understanding under which it sold three commercial buildings located in Meydan Metropolis Phase 1 to Emirates NBD, reported Gulf...

Dealing with Dubai’s Debt

It's exactly four months since Dubai sent shockwaves around the world, when one of its biggest companies, Dubai World asked for a delay in...

Statement from Sheikh Ahmed Bin Saeed Al Maktoum about the restructuring...

Dubai Government Offers Dubai World $9.5 Billion in New Funds Dubai World and Nakheel will today announce proposals for the restructuring of their liabilities...