Nakheel set to pay creditors $408m next month
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Nakheel set to pay creditors $408m next month

Nakheel set to pay creditors $408m next month

Ali Lootah, chairman of Dubai-based developer Nakheel has said the firm plans to pay Dhs1.5bn ($408m) of bills it owes to trade creditors next month, Reuters has reported. The company expects to pay 40% of the money owed to trade creditors in cash and 60% through a tradeable sukuk, Nakheel said. The company said on August 24 it paid Dhs2.5bn it owed trade creditors in July.

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