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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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C9 Hotelworks Releases New Phuket Hotel Market Update Report

Category: Hotels|Tourism, Posted:16 Mar 2023 | 00:29 am According to C9 Hotelworks new Phuket Hotel Market Update 2023, the resort island’s tourism recovery has accelerated over the past six months. With the removal of Thailand’s pandemic travel restrictions in 2022, airlift quickly ramped up as India and Malaysia were key early source markets. Over the current winter season aside from the return of […]
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Destination Ink Radisson For Patong Hotel

Category: Hotels, Posted:12 Mar 2023 | 23:16 pm Phuket’s hotel brand conversion trend is continuing, with the latest move having Radisson sign a deal for a 390-room hotel in Patong. Owned by the Destination Group, the property will be branded as a Radisson. This is the fourth recent conversion by Destination with one more Radisson and two Holiday Inns by IHG. Expect more […]
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Hilton Phuket Arcadia Reflagged To ACCOR’s Pullman Brand

Category: Hotels, Posted:03 Mar 2023 | 07:35 am One of Phuket’s largest hotels, the 662-room Hilton Phuket Arcadia Resort has been reflagged under ACCOR’s Pullman brand. The hotel, which will be named Pullman Phuket Arcadia Karon Beach Resort will operate as a Pullman effectively in April of this year, and a staggered 24-month refurbishment program undertaken. With this addition, there will be three […]
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