Nakheel wins Dubai Waterfront case

Six Nakheel projects will be completed in 2015, says Nakheel Chairman Rashid Lootah. (Supplied)

Dubai-based developer Nakheel on Thursday said in a media statement that Dubai Courts have issued a judgment in Nakheel’s favour against investors Safi Qurashi and his business associates in respect of money owing on a plot of land at Dubai Waterfront.

The case involves a plot of land Qurashi bought on the Dubai Waterfront development, a 1.4 billion sq ft project twice the size of Hong Kong.

Under the judgment, Qurashi has been ordered to pay Dh11 million and Nakheel has obtained an attachment to recover the judgment debt, the developer said.
 

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