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Nakheel wrote off $21.4bn in property crashDubai developer Nakheel, which completed a complex debt restructuring last month, wrote off up to Dh78.6 billion ($21.4 billion) of its real estate assets due to a property crisis in the emirate, according to a bond prospectus. Nakheel, wh More… |
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Dubai may write off $1 billion DIFC loanDubai government may write off its $1 billion loan to state-owned DIFC Investments in exchange for shares and infuse additional capital of $600 million to help the struggling group restructure its debt pile, JP Morgan Securities said in a research More… |
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Banks dodge write-offs in Dubai World debt sagaLenders will roll over billions of dollars in risky loans to Dubai World rather than face the pain of write-offs, illustrating the close network of families and firms in Dubai's commercial landscape, say experts. Keeping loans in a per More… |
