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Dubai World Restructures USD23.5 Billion

Category: Real estate, Posted:04 Jun 2010 | 06:00 am

Yes that's billions and not millions as troubled Middle East conglomerate Dubai World has reached an agreement for the restructuring of USD23.5 billion in debt.
Part of the package includes conversion of UDD8.9 billion into equity in property arm Nakheel who has been hit hard by the global real estate slowdown.
At the heart of the deal remains a bail out initiative by Government led banks in Abu Dhabi followed by a number of global banking institutions.

Other News

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Green Shoots For Phuket Hotels

Category: Hotels, Posted:31 Oct 2020 | 06:00 am Thailand’s largest resort island Phuket was center stage for a large-scale island-wide clean-up last Wednesday 21st October. Led by the 78-hotel strong Phuket Hotel Association over 2,000 hoteliers and community volunteers took to the beaches and streets in 14 strategic locations. A single day tally of over 6 Tonnes, (6,000 kilos) of mostly plastic trash […]
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Special Virtual Event For Hotel Owners and Operators

Category: Hotels, Posted:30 Oct 2020 | 12:11 pm Join Delivering Asia Communications and C9 Hotelworks in a unique one-hour live MasterClass event on hotel asset management. The event is titled “MasterClass – Hotel Asset Management, A Virtual Learning Event on How to Add Value in the Covid-19 Downturn”. The live webinar will be held on Wednesday 18th November, 2:00 pm Bangkok | 3:00 pm […]
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Hotel White Label, Third Party Operator and Franchise Event

Category: Hotels, Posted:27 Oct 2020 | 08:55 am C9 Hotelworks and Delivering Asia Communications have organized a highly-relevant virtual event called “White Label Session – The Sequel, Insights into Hospitality Third-Party Operators and New Options for Hotel Owners”. The live webinar will be held on   Wednesday 4th November, 2:00 pm Bangkok Time | 3:00 pm Singapore/Hong Kong. Free registration is available HERE. A hospitality-focused virtual […]