Al Nakheel
Properties, which is also known as Nakheel Corporation,
is the most popular real estate company dealing
in freehold property in Dubai, United Arab Emirates
[UAE]. Its real estate development ranges into residential,
tourist, commercial and retail property.
Nakheel
Properties' flagship property are the 3 man-made
palm tree shaped islands on the coast of Dubai.
Nakheel operates under the umbrella of The Corporate
Office, which manages various businesses on behalf
of the Dubai government. The executive chairman
of Al Nakheel is Mr. Sultan Ahmed bin Sulayem.
Nakheel announced that it has signed a lease agreement with international supermarket chain Geant Hypermarket for a 10,000 square metre space in Dubai’s Dragon Mart Phase II.
Nakheel announced that Serco, the international service company, has been appointed to operate and maintain the Palm Jumeirah Monorail. The Palm Jumeirah Monorail is a critical component of the Palm Jumeirah and runs along the entire length of the development, some 5.5 kilometres from The Gateway Station on the Dubai Mainland to the Atlantis Station on the Crescent.
Nakheel today announced it has commenced the second phase of cash payments to its trade creditors following the signing of a substantial number of restructuring agreements.
Nakheel today met with senior members from UAE-based Contactors’ Association, including company Chairman, Dr Ahmed Saif Belhasa, as part of its efforts to ensure settlement of claims to its trade creditors as part of its recapitalization plan.
Nakheel’s trade creditors have embarked on signing the settlement agreements presented to them last week following extensive meetings with Nakheel’s Chairman and executives.
