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Posted: 28 Sep 2009 | 6:57 am
One of the Middle East top property, hotel and leisure conglomerates Dubai World has announced a restructuring of its Nakheel Hotels and Istithmar World units. Its business empire not only spans the world but has a significant presence in the Thai market. There is much apprehension over a US$3.5 billion bond that is due later this year and the company which has over US$4 billion in hotel assets under Nakheel is consolidating management to Istithmer.
In Thailand Nakheel has investment's in projects such as the upcoming W Bangkok and W Retreat, Spa and Residences in Koh Samui. Istithmar hotels hold a stake along with IFA in Raimon Land.
Sovereign wealth funds (SWF's) were a significant source of capital for US companies such as Citibank and Morgan Stanley and the continued global recession has seen Abu Dhabi fund US$10 billon into Dubai this year to help fund its US$80 billion debt.
A column featuring environmental issues and conservation around the island. Click here for more Green Reports check out the latest story from the leading experts:
A recent Channel News Asia television segment Boomtown Asia checked into the island's environmental, and sustainable tourism sectors.
The innovative Evening Breeze environmental cooling system is gaining global attention in the resort markets and villas.
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