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DUBAI CRISES Nakheel Posts US$3.65 Billion Loss in H1

Category: Real estate, Posted:10 Dec 2009 | 03:50 am

Back of Dubai World's current USD$59 billion dollar debt crises, real estate arm Nakheel has reportedly lost US$3.65 billion in the first half of the year, mainly on asset value write downs. As covered in the financial press the company has suspended debt repayments on it's Islamic Bond Issue and a workout situation continues to be unclear.
Thailand continues to have some exposure in term of property and hotel grade assets with Nakheel being a joint venture partner in the W. Koh Samui Retreat and Residences and W Bangkok. Though both projects are at various stages of development hence capital and debt formation are in place so it's doubtful there will be issues. Another Dubai World spin off Istithmar who had been a shareholder in publically listed Raimon Land and has disposed of shares, still retains an ownership interest in Bumrungrad PLC.

Other News

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New C9 Hotelworks Phuket Hotel and Tourism Report Released

Category: Hotels|Tourism, Posted:05 Feb 2025 | 10:44 am C9 Hotelworks has released its new Phuket Hotel and Tourism Market Review 2025. Phuket’s tourism market in 2024 continues its trajectory toward full recovery, underpinned by significant growth in Russian and Indian arrivals, alongside government-led visa-free travel initiatives. Passenger arrivals for the year reached 8.65 million, reflecting a 23% increase compared to 2023 and just […]
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The C9 Sessions – The Growth of Branded Residences in the Philippines

Category: Real estate, Posted:23 Jan 2025 | 11:33 am Branded residences and mixed-use projects are becoming a significant player in Philippines’s hospitality space. As property developers, real estate investors and property buyers are learning, this is a complex space that requires well-structured projects. Join us for a unique 90-minute learning session about all the moving parts in this rising marketplace. The session will feature […]
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Video Sessions From Thailand Tourism Forum 2025

Category: Hotels|Real estate|Tourism, Posted:22 Jan 2025 | 08:18 am In case you missed the Thailand Tourism Forum 2025 in Bangkok last week or did attend, and want to rewatch some sessions please find video links to all below. The event drew over 1,000 attendees and was the 14th year for TTF. We look forward to returning in 2026, but for now please enjoy the […]
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