Nakheel Hopes Prudent Approach Will Convince Investors Worst Is Over

Dubai developer Nakheel announced in August 2011 that it planned to issue AED3.8bn (US$1.03bn) of Islamic bonds to creditors and contractors as part of the company's US$16.1bn debt restructuring. While concerns remain, the completion of the restructuring is a major step for the company in reassuring investors that it has turned a corner. Nakheel's adoption in recent months of a more sustainable and measured approach to its business, which involves greater focus on consolidation and less on new business and land development, adds support to this view.

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