TO DISCUSS YOUR PROJECT OR LEARN MORE ABOUT OUR SERVICES:

  • This field is for validation purposes and should be left unchanged.

DUBAI CRISES Nakheel Posts US$3.65 Billion Loss in H1

Category: Real estate, Posted:10 Dec 2009 | 03:50 am

Back of Dubai World's current USD$59 billion dollar debt crises, real estate arm Nakheel has reportedly lost US$3.65 billion in the first half of the year, mainly on asset value write downs. As covered in the financial press the company has suspended debt repayments on it's Islamic Bond Issue and a workout situation continues to be unclear.
Thailand continues to have some exposure in term of property and hotel grade assets with Nakheel being a joint venture partner in the W. Koh Samui Retreat and Residences and W Bangkok. Though both projects are at various stages of development hence capital and debt formation are in place so it's doubtful there will be issues. Another Dubai World spin off Istithmar who had been a shareholder in publically listed Raimon Land and has disposed of shares, still retains an ownership interest in Bumrungrad PLC.

Other News

Read more

Patong Hotel Conversion For Banyan Tree’s New HOMM Brand

Category: Hotels, Posted:12 Jan 2022 | 08:00 am The 71-room Bliss hotel in Patong, Phuket has been converted to Banyan Tree’s HOMM brand. Banyan Tree is looking to fast-track expansion with three new brands a key strategy of conversions of existing hotels. The HOMM Bliss Southbeach Patong is the debut for the lifestyle-focused HOMM. Expect more announcements shortly on new Banyan Tree brands […]
Read more

Three More Thailand Sandboxes Join Phuket On Tuesday

Category: Tourism, Posted:09 Jan 2022 | 20:33 pm The Thai government has added three more  Sandbox destinations along with Phuket for vaccinated international travelers. Effective on Tuesday 11th January 2022, Phang Nga (including Khao Lak), Krabi, and Surat Thai (Koh Samui, Koh Pha-ngan, and Ko Tao) will be open to Sandbox visitors. The current Sandbox restrictions mean a minimum of seven-night stays in […]
Read more

Choice Brand For New Phuket Hotel

Category: Hotels, Posted:30 Dec 2021 | 09:37 am The new upscale Quality Resort and Spa Patong will open in early 2022. Quality is a brand under Choice Hotels International, and the property is operated under a master-franchise agreement with a third-party management group La Vie Hotels & Resorts. La Vie currently operates a number of hotels across Asia Pacific. With 88-rooms, the Quality […]