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UP PERISCOPE Nakeel Property Assets Underwater Despite Bail-Out

Category: Real estate, Posted:31 Dec 2009 | 06:00 am

In spite of the recent injection by good neighbor Abu Dhabi who provided Dubai with an early Christmas present of US$10 billion to help cover the US$4.1 billion bond of Nakheel property the fact remains there are inherent fundamentals gone haywire.
Aggressive Nakheel is currently underwater (i.e. one of our more favorite real estate terms meaning a property asset has more debt then the value of the asset) continues to be a long term issue. It's doubtful even the late Jacque Cousteau could find a quick solution to this; so certainly one of 2010's most interesting financial stories will be the Middle East power struggle and perhaps even a Great Dubai Sale of international assets.

Other News

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Mind the Gap – Keep People Inspired Event in November

Category: Hotels|Tourism, Posted:22 Oct 2022 | 08:50 am Keep People Inspired (KPI) is the second in a series of Mind the Gap Learning events. The focus of the event is on inclusiveness in hospitality, spanning Phuket’s hotels, tourism and service industries. Inclusiveness is a key element of businesses that rely heavily on human resources and is in effect all about people, whether they […]
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Japanese Luxury Brand Hoshinoya Heads To Niseko

Category: Hotels|Real estate, Posted:14 Oct 2022 | 17:42 pm Leading Japanese hotel operator Hoshino has inked a deal for a luxury resort in Niseko with developer Zekkei Properties. Located in a prime ski-in and ski-out location in Upper Hirafu Village, the 62-unit hotel and residence property will be named Hoshinoya Lodge Niseko. With one of Hirafu’s best locations, the site was formerly occupied by […]
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Phuket and Beyond, A Brief Friday Hotel Update

Category: Hotels, Posted:14 Oct 2022 | 10:24 am In Phuket, Wyndham Vacation Resorts has signed a deal to manage the 50-key Zenmaya Oceanfront in Kalim. The property will be under the Trademark Collection by Wyndham. There are synergies for the hotel given it is located across a main coastal road from the Wyndham Grand Phuket Kalim Bay. Regional carrier Myanmar Airways International (MAI) […]
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