Nakheel Says It Is Receiving Funds From UAE GovernmentMonday, May 11, 2009
Dubai-based developer Nakheel has confirmed that it is receiving funds from the Dubai government that are aimed at supporting state-linked firms suffering from the financial crisis. 'The actual figure is confidential and so are all the other details, but yes Nakheel is receiving funds,' Chris O'Donnell told Emirates Business. The Dubai government sold $10bn of bonds to the UAE central bank earlier this year to raise capital to support state-linked companies that have been hardest hit by the financial crisis, and plans to issue another $10bn in bonds later this year. Source: AME Info
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