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Asharq Al-Awsat
Asharq Al-Awsat
Business
Dubai - Asharq Al-Awsat

Nakheel Secures Strategic Finance of $4.6 bln

Dubai Emirates NBD
Dubai Islands of Nakheel (Asharq Al-Awsat)

Nakheel has secured 17 billion dirhams ($4.6 billion) in financing as the group behind the palm-shaped islands accelerates plans for “its new projects including Dubai Islands and other large waterfront projects”.

Nakheel said in a statement on Tuesday that the transaction comprised 11 billion dirhams ($2.9 billion) in refinancing and additional funds of 6 billion dirhams ($1.6 billion) through a syndicate from Emirates NBD, Mashreqbank, and Dubai Islamic Bank.

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