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Nakheel bank debt $10.5 bln, to get assets-document
Dubai’s Nakheel has $10.9 billion of bank debt and will receive key assets from parent company Dubai World for its business plan after separation, a restructuring document showed on Wednesday.
Dubai World mulls sale of prize assets to pay debts
The documents also said Dubai World planned to transfer assets to Nakheel after their planned separation, including land earmarked for the Nakheel Harbour and Tower and the massive Waterfront development near the border with Abu Dhabi.
DW ups commitment with asset sales plan
Assets to be transferred are Nakheel Harbour & Tower land, land at its Waterfront development which forms the security for the 2011 sukuk (an Islamic bond), Dubai World’s 50 per cent stake in its Al Mamzar joint venture, Dubai World’s 99 per cent
Dubai right to back aviation
Another key project that needs financing is Aviation City, which is earmarked as the next part of Dubai World Central to be developed now that the first phase of Al-Maktoum International airport is open. DCA should be able to secure funding for the planned work at Terminal 2 and the $1.3bn Concourse 3. But with the price tag for the rest of Dubai World Central currently at about $30bn, Dubai will find it a lot harder to finance this in one go.
Hellman Calipar Healthcare Logistics launches first pharmaceutical and healthcare logistics operations at Dubai World Central
Marking another successful step in the ongoing development of Dubai World Central (DWC) as the premier regional hub for international logistics service providers, Hellman Calipar Healthcare Logistics today announced the launch of its unique healthcare logistics facility based at DWC.
Standing strong
Although RSA Logistics celebrated the success of its first anniversary at Dubai Logistics City early this year, the company is focused on the future rather than the past, explains marketing director Kirit Mehta.
Emirates’ Sky Cargo sees growth potential in Malta
Meanwhile, Dubai is preparing to officially open Dubai World Central, the 140-square-kilometre urban aviation community surrounding the world’s largest airport where one million people will live and work, on June 27. With five runways, the airport will handle 180 million passengers and 13 million tonnes of cargo a year. It features the added advantage of a 10-kilometre freight corridor from Jebel Ali port with no customs interaction to allow for shorter delivery times.
Dubai to open ‘world’s biggest’ airport for cargo next month
Dubai’s second airport, designed to be the world’s largest when completed, will open in June for cargo only, with plans to receive passengers in spring next year, Dubai Airports chief said Tuesday.
