Islamic Finance
Property & Real Estate
Uncategorized
Wealth and Asset Management
Nakheel wrote off $21.4bn after Dubai property crash
Nakheel, Dubai’s biggest developer, told creditors it wrote down AED78.6 billion ($21.4 billion) from the value of its real estate as property prices in the emirate crashed. The Dubai government-owned company wrote off AED301.4 million in the first half of last year, AED73.8 billion in 2009 and a further AED4.44…
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Click here to read the full story: Arabian Business