Published: May 11 2009 09:34 | Last updated: May 11 2009 19:12
The developer behind some of Dubai’s most extraordinary property projects revealed on Monday that it had resorted to taking funding from the emirate’s department of finance to help pay invoices.
Nakheel, the government-owned developer that built projects such as the Palm Jumeirah island constructed out of reclaimed land to resemble palm fronds, received funding from the emirate’s $5bn disbursement of funding aiming to help state-linked companies.
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