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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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Project Rattan Focused On Restoring Thai Craft

Category: Tourism, Posted:20 Sep 2020 | 08:52 am If you find yourself in Bangkok from now until the end of December, you should take some time and visit Australian designer Patrick Keane’s Project Rattan exhibition at River City. Project Rattan is an exhibition of furniture design featuring Thai craftsmanship and aimed at restoring local artisans to create international level products. The exhibit is […]
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Condo Hotels and TPO’s Hitting Bangkok

Category: Hotels, Posted:20 Sep 2020 | 08:47 am Bangkok’s hospitality market is set rapid growth in the emergence of condo hotels and third party management operators (TPO’s). The trend is best seen with the recent launch of The Wyndham Queen Convention Centre Hotel and Residences in Bangkok operated by Kew Green Management Company Thailand. Kew Green has seven properties in the pipeline in […]
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The Hotel Business Plan – Why It Must Die (and soon)

Category: Opinion, Posted:18 Sep 2020 | 17:26 pm As I madly type away on the keyboard of my MacBook Pro, thousands of dumbstruck hoteliers across the world are slaving away in a blurring succession of days and nights in the mindless pursuit of completing an ignominious document known as The Hotel Business Plan. It’s Friday and I’m over-caffeinated, so hang on tight. Wait, […]