Nakheel does not rule out Reits as fund-raising option
Although Nakheel the Dubai-based master developer, currently has no plans to launch real estate investment trusts (Reits), it is not ruling out the option to raise funds in the future, Emirates 24|7 can reveal.
Under Nakheel's debt plan, trade creditors have been offered 40 per cent of what they are owed in cash and the rest through an Islamic bond.
The 60 per cent bond issue needs approval of 95 per cent of creditors.
Nakheel announced earlier that Al Shafar Transport and Contracting Company had started work on the 300 villas in the same project.
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