Nakheel to finish some stalled projects, says report

Nakheel Properties plans to spend $1.5bn to finish stalled developments even before creditors agree to a debt restructuring plan for its parent Dubai World, the National has reported, citing a letter sent by the developer to thousands of investors in stalled Nakheel projects. The restructuting plan presented to creditor banks of the Dubai World conglomerate includes $8bn of fresh funds for Nakheel. The funds would initially be used to finish projects that were nearer to completion, such as Al Furjan and Jumeirah Park.