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23-02-14

Nakheel to pay USD639m debt

(MENAFN) Dubai-based Nakheel announced that it will repay USD639 million of bank debt over 18 months ahead of time, Arabian Business reported. The company said that the repayment is part of a USD1.8 billion due in September 2015. The developer said that the early repayment is proof of its strong financial performance. Nakheel chairman said: "The early payment has been made possible by delivering thousands of units to customers, ongoing cost savings achieved and the support of the Government of Dubai, investors and business partners""