Tuesday, Dec 08, 2009

Down at heel in Dubai

Bloomberg: Nakheel Has Loss of $3.65 Billion in First Half

"Nakheel PJSC, the Dubai World-owned property developer seeking to renegotiate debt, had a first-half loss of 13.4 billion dirhams ($3.65 billion) as revenue fell and it wrote down the value of land and property, according to a document obtained by Bloomberg. The loss for the company, which is building palm tree- shaped islands off the emirate’s coast, compared with a year- earlier profit of 2.65 billion dirhams, the company’s financial statement for the six months through June showed. Revenue fell 78 percent to 1.97 billion dirhams. A spokesman for Dubai World, Nakheel’s parent, declined to comment".

Posted by alan @ 02:16 PM (1037 views)
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1. Fly By Night said...

Another December 08 posting! Waste of time.

Tuesday, December 8, 2009 03:58PM Report Comment

2. jack c said...

Bloomberg article Last Updated: December 8, 2009 10:14 EST

Tuesday, December 8, 2009 04:46PM Report Comment

3. inbreda said...

"Nakheel Has Loss of $3.65 Billion in First Half"

I wonder if he's checked down the back of the couch?

Tuesday, December 8, 2009 05:17PM Report Comment

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