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Nakheel Denies Offering Early Repayment for Discount, Bayan Says

Nov. 22 (Bloomberg) -- Nakheel did not offer contractors expedited repayment if they accept a reduction on the debt, Al Bayan reported, citing an unidentified Nakheel spokesman.

The denial comes after Arabian Business reported yesterday that the Dubai developer of palm-shaped islands off Dubai’s coast is offering to expedite payment of arrears to contractors who are willing to reduce the debt.

To contact the reporter on this story: Zahraa Alkhalisi in Abu Dhabi at zalkhalisi@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net

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