Nakheel cash payments reach Dhs3.4bn
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Nakheel cash payments reach Dhs3.4bn

Nakheel cash payments reach Dhs3.4bn

Nakheel has announced it has made a Dhs3.4bn ($924m) cash payment to trade creditors, as part of its recapitalizaton plan, following on from the initial payments to trade creditors of Dhs500,000 or less. "Nakheel has approximately 85% (by value) of acceptances and is working closely with the rest of our trade creditors to achieve its 95% acceptance of all payables and claims by the end of the year," the developer said in a statement.

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