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Nakheel well-positioned to finance villa project
- United Arab Emirates: Monday, December 31 - 2012 at 04:27
Dubai's property developer Nakheel has awarded contracts worth $136m to two local construction firms for a luxury villa project stalled after the emirate's property market collapse, Reuters has reported. The state-owned developer will self-finance the construction of 381 luxury villas on Jumeirah Park, Nakheel chief executive Sanjay Manchanda said. "We would not go ahead with these projects if we don't have the financing. We want to ensure that we won't make the same mistakes again," said Manchanda.
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