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Old January 5th, 2009, 04:50 AM   #81
Parisian Girl
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Owner of Dubai landmarks eyes float

The company behind some of Dubai's best-known landmarks is considering a stock market listing to raise as much as $15bn (£10.3bn) to reinforce its finances.

By Louise Armitstead and Ben Harrington
Last Updated: 12:12AM GMT 04 Jan 2009

[IMG]http://i40.************/2r7yeyq.jpg[/IMG]

The company behind some of Dubai's best-known landmarks is considering a stock market listing to raise as much as $15bn (£10.3bn) to reinforce its finances.

Nakheel, which owns the Palm Jumeirah, the world's biggest artificial island, and Nakheel tower, the world's tallest building at 1km high, is in talks with investment bankers about plans for a flotation in 2009.

Bankers at JP Morgan have been working on various ideas, including a dual-listing for Nakheel on its home exchange, Nasdaq Dubai, and also in London, although the timing of the move has not yet been decided.

A spokesman for Nakheel, which is state-backed, said: "Nakheel is always looking into capital-raising options and an initial private offering is one of them."

Nakheel has a $3.52bn sukuk (Islamic bond) from two years ago which is due in December. If the company floated, the bond could be converted into shares at any time before it matures.

Sources close to the situation said Nakheel's need for capital has increased as the economic downturn has spread to Dubai. Property prices on the Palm Jumeirah, for example, have fallen by more than 40pc since September leading to fears the emirate's economy is stalling.

A four-bedroom villa on the Palm is now selling for 10m UAE dirhams (£1.8m), down from 15m dirhams in September. When work started on the Palm in 2001, the villas were bought for as much as £5m each.

Buyers included footballer David Beckham and racing driver Michael Schumacher. Nearly a quarter of the villas were sold to British buyers.

http://www.telegraph.co.uk/finance/4...yes-float.html
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Old January 5th, 2009, 05:42 PM   #82
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Old January 5th, 2009, 09:32 PM   #83
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How can someone not notice 2 billion missing? 2 Billion...hmmm 2 friggin BILLION and they don't notice. Only in this part of the world....
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Old January 6th, 2009, 06:51 AM   #84
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Old January 6th, 2009, 09:40 AM   #85
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Quote:
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How can someone not notice 2 billion missing? 2 Billion...hmmm 2 friggin BILLION and they don't notice. Only in this part of the world....
huge cash flows + corruption =
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Old January 7th, 2009, 03:38 PM   #86
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Old January 13th, 2009, 10:07 AM   #87
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Old January 14th, 2009, 05:18 AM   #88
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MEDIA RELEASE

Tickets now on sale for Alegría by Cirque du Soleil®

- Cirque du Soleil, in partnership with Nakheel, will present Alegría™ under the
‘Grand Chapiteau' at Ibn Battuta Mall from March 5 - April 5, 2009

- Buy four or more tickets and receive a 20 per cent discount -

- Three matinee performances a week plus a dedicated family only seating area -

13th January, 2009, Dubai: Tickets go on sale today, Tuesday 13th January for the highly acclaimed Cirque du Soleil show Alegría which is coming to Dubai for a month this March.

Held in partnership with Nakheel, Alegría will be a prelude to the resident show that Cirque du Soleil is developing specifically for Dubai and which is scheduled to open in a purpose-built 1,800 seat theatre on Palm Jumeirah in 2011.

Alegría, which will be performed between March 5 – April 5, 2009 at Ibn Battuta Mall will feature an evening performance daily (excluding Monday) as well as matinee performances on Friday, Saturday and Sundays with all shows offering a special family only seating section, which takes into consideration the local cultural customs.

Tickets for Alegría, regarded as one of the world’s premier live entertainment productions, will go on sale today and will be available to buy online at www.cirquedusoleil.ae or by calling 800 CIRQUE (800 247783). Tickets will be priced from 180 AED through to 1,000 AED. For bookings of four or more people for a Sunday, Tuesday or Wednesday performance people can benefit from a 20 per cent saving.

More/
Following the success of Quidam™, the first ever performance by Cirque du Soleil in the Middle East in 2007 which more than 100,000 people attended Nakheel expects tickets for Alegría to sell quickly and recommends that customers buy their tickets early to ensure that they don’t miss out on experiencing the magic of Cirque du Soleil.

Robert Lee, Managing Director, Investment Projects, Nakheel said:

“We are delighted to be launching tickets for Cirque du Soleil’s return to Dubai. Alegría is an incredible show packed with the most breathtaking acrobatic performances and accompanied by fabulous live music.

“We are confident that the show is going to be hugely popular, following on from the success of Quidam, and we recommend people buy early to ensure they see one of the biggest events of the year. For anyone who has seen a Cirque du Soleil show before they will know that it is an awe-inspiring and life-changing experience and we can recommend it to people of all ages.”

Brett Judd, Head of Entertainment and Leisure, Nakheel Retail, added:

“We have taken into consideration that people are looking to cut their expenditure in 2009 so we are offering a 20 per cent discount on bookings of four or more people for certain performances. In addition, we have a designated family only seating area to encourage families to come and enjoy the show together. The ticketing solution that Nakheel has implemented for booking tickets is a very reliable and user-friendly system with credit card security a key priority for us.”

Alegría’s international cast of 55 acrobats, musicians, singers, clowns and characters from 17 countries will perform their talents over two hours in the Grand Chapiteau which caters for 2,500 spectators. Beginning in Montreal, Canada, in 1994, Alegría has visited 65 cities across 17 countries and has awed over 10 million spectators around the globe.

The return of Cirque du Soleil follows a partnership struck last year between Nakheel and Cirque du Soleil to develop a permanent show on Palm Jumeirah beginning in 2011 and is expected to run over a 15-year period. This was followed by an announcement that saw Istithmar World, the investment arm of Dubai World, and Nakheel acquire a 20 per cent stake in Cirque du Soleil earlier this year.



Performance dates, times and ticket prices:
Performance dates: Thursday 5th March – Sunday 5th April
Performance times: Tuesday, Wednesday and Thursday at 8.30pm; Friday and Sunday at 4.30pm and 8.30pm and Saturday at 1.00pm and 5.00pm
Ticket prices: Children (2-12 yrs) from AED 180* to AED 425, Adults (13 years +) from AED 240* to AED 550. VIP** tickets from AED 800* to AED 1000.

* Cheapest tickets are available when four or more tickets are purchased together for performances on a Sunday, Tuesday and Wednesday evening only.
** The VIP area is reserved for 21 year olds and above
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Old January 14th, 2009, 07:57 AM   #89
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My friend who works in DP World told me that the management sent letters to all employees from supervisors and above asking them about the highest rent they are going to pay for a studio or a one bedroom apartment.
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Old January 14th, 2009, 08:37 AM   #90
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I went to the last Cirque show in 2007 - was worth every dirham. Definately going this time around. Not as cool as Iron Maiden's show on the 12th Feb or Desert Rock, but still excellent stuff.
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Old January 14th, 2009, 01:16 PM   #91
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My friend who works in DP World told me that the management sent letters to all employees from supervisors and above asking them about the highest rent they are going to pay for a studio or a one bedroom apartment.
and what is that supposed to mean? are they going to reconsider their rental rates?
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Old January 14th, 2009, 02:30 PM   #92
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I have no idea, they didn't even apply for apartments in the first place !
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Old January 19th, 2009, 03:59 PM   #93
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Old January 19th, 2009, 05:10 PM   #94
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Nakheel launches ‘Emergency Donation’ appeal for Gaza

- Collection points available at Ibn Battuta Mall and
Dragon Mart, International City

Dubai, 18 January 2009: In response to the current humanitarian crisis in Gaza Nakheel has launched an ‘Emergency Donation’ appeal to collect aid supplies, which the company will then transport to the people afflicted in the region.

Two collection points at Ibn Battuta Mall and one at Dragon Mart, International City, have been set up where people can donate clothing, blankets, non-perishable foods and first aid kits. The collection points are located next to the Customer Service desks in both locations.

The collection points are already operational and will remain at Ibn Battuta Mall and Dragon Mart for the coming weeks.

Further information about the appeal can be found at: www.ibnbattutamall.com from Monday 19th January 2009.

(Nakheel)
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Old January 19th, 2009, 07:41 PM   #95
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Quote:
Originally Posted by Imre View Post
Nakheel launches ‘Emergency Donation’ appeal for Gaza

- Collection points available at Ibn Battuta Mall and
Dragon Mart, International City

Dubai, 18 January 2009: In response to the current humanitarian crisis in Gaza Nakheel has launched an ‘Emergency Donation’ appeal to collect aid supplies, which the company will then transport to the people afflicted in the region.

Two collection points at Ibn Battuta Mall and one at Dragon Mart, International City, have been set up where people can donate clothing, blankets, non-perishable foods and first aid kits. The collection points are located next to the Customer Service desks in both locations.

The collection points are already operational and will remain at Ibn Battuta Mall and Dragon Mart for the coming weeks.

Further information about the appeal can be found at: www.ibnbattutamall.com from Monday 19th January 2009.

(Nakheel)
It's very tempting to spoof that into a "Gaza launches 'Emergency Donation' appeal for Nakheel", but I worry that some people would take offence, so I won't.
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Old January 19th, 2009, 07:54 PM   #96
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Old January 20th, 2009, 04:44 PM   #97
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NAKHEEL HOTEL FRONT ROW AT PRESIDENTIAL INAUGURATION

-Nakheel Hotels to open 1st W Hotel in Washington DC

Dubai, 20 January: The façade of Nakheel-owned W Hotel Washington DC provided a fitting backdrop today for the historic occasion of the inauguration of new American president Barak Obama. With a rooftop terrace overlooking the manicured lawns of the Whitehouse, contractors at the hotel today will take a break from renovation works to take advantage of its prime location to watch the scenes unfolding below them.

Nakheel purchased the famous Hotel Washington in 2006. The hotel, which was first opened in 1917, is scheduled to reopen as Washington DC's first W hotel in late summer of 2009 after undergoing a multi-million dollar facelift.

Joe Sita, CEO of Nakheel Hotels commented:

"Nakheel Hotels is looking forward to the opening of Washington DC's first W Hotel later this year. The W brand will bring new life to this historic hotel and we expect that the W Washington DC will soon be the ultimate destination for discerning visitors and DC residents."

This historic hotel has hosted numerous presidents, heads of state, Supreme Court Justices, and celebrities over the past 90 years, and boasts a stunning rooftop terrace with unprecedented views of Washington DC that has provided backdrops for such movies as "The Godfather: Part II" and "No Way Out."

Nakheel Hotels maintains an impressive portfolio of landmark properties on several continents, including a number of other hotels in North America - the Mandarin Oriental and W Union Square hotels in New York; the One & Only Palmilla Resort in Los Cabos, Mexico; and the Fontainebleau Hotel in Miami.
(Nakheel)
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Old January 21st, 2009, 07:45 PM   #98
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Did anyone else get a REALLY nice photo album update of some of Nakheel's projects? We just received it today and were delighted to see the progress on Al Furjan, Jumeirah Park, Jumeirah Village, Jumeirah Islands Mansions and Marina Residences.

There's an open house from the 28th to the 31st of this month from 10am to 7pm at the Al Furjan sales center which i believe is open to all.
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Old January 21st, 2009, 08:02 PM   #99
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Did anyone else get a REALLY nice photo album update of some of Nakheel's projects? We just received it today and were delighted to see the progress on Al Furjan, Jumeirah Park, Jumeirah Village, Jumeirah Islands Mansions and Marina Residences.

There's an open house from the 28th to the 31st of this month from 10am to 7pm at the Al Furjan sales center which i believe is open to all.
I'm not the greatest at differentiating between honesty, integrity and sarcasm. But in this case it was easy.
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Old January 25th, 2009, 09:33 AM   #100
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Maybe we shouldnt judge them to much to quickly. Its a difficult time for all. Was thinking, by september new mono rail opens, burj open, maybe more credit in market easies up. Keep hearing about more and more buyers/funds getting ready to come into the market. This could all be very tempoary.
The main problem is lack of communication. If they could let everyone know what the plan is then im sure people would be reassured....
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