Nakheel pays Dh202.2m to lenders

Nakheel released on Sunday  profit and interest payments equivalent to Dh202.2 million to its lenders.

The payments were due at the end of February 2012 in accordance with the restructuring commitments.

A Nakheel spokesperson said the timely discharge of the committed payments signals the successful execution of the restructured operations by Nakheel.

He said it cements Nakheel’s commitments towards  implementing the agreed operating plan following the completion of one of the largest and most complex restructuring in the Middle East in August 2011.