Nakheel pays US$53.7 million to lenders in compliance with restructuring terms

Nakheel has released interest and profit payments of AED197 million (US$53.7 million) to its lenders in compliance with its restructuring requirements. The company emphasized that it remains focused on meeting its commitments in accordance with the terms set out in its company restructure and revised business plan. Nakheel's commitment, achievements and newly-announced projects will continue to contribute to the growth of Dubai’s real estate and tourism sector, including the government target of 20 million annual visitors to Dubai by 2020.