4. Shopping, seaside, sports and safety - Four of the key ingredients that have earned Dubai a growing reputation as one of the world's most attractive and rapidly developing leisure destinations.
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7. With global financial markets plunging after Dubai World, the government investment company burdened with $59 bn liabilities, requested for deferment of debt to its creditors for six months, on 25th Nov 2009.
8. Nakheel has a debt of $26bn & $3.5 bn Islamic bond due to be paid on 14th Dec 2009.
11. ROLE OF THE DUBAI GIANTS Dubai’s main development engine- Dubai world and its real estate arm- Nakheel Issued Nakheel bonds- investors ready to invest as it was state owned Today many bonds are due and cash flows not enough to pay them back. Restructuring effect- It has a reported US$60 billion in liabilities, offset by a calculated US$40 billion in assets There is a maturity mismatch- the expected revenue is in the future while liabilities, including to contractors and suppliers, are piling up today.