Nakheel makes Dh220m Sukuk profit payment

Nakheel on Tuesday confirmed a profit payment of Dh220 million on its trade creditor Sukuk.

Instructions have been sent to Deutsche Bank, the registrar and paying agent for the Sukuk, to make the profit payment to all Sukuk holders on the due date of  June 15, 2014 against the Sukuk issued amount of Dh4.4 billion to date.

A Nakheel spokesman said: “We continue to honour our financial commitments and to implement our revised business plan, further helping the recovery of the real estate sector in Dubai. In turn, investor and contractor trust in Nakheel continues to grow.”

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