Dubai developer Nakheel is nearing a debt restructuring deal worth $4.6bn, as the group behind landmarks such as Palm Jumeirah accelerates plans to tap into surging demand for property in the Gulf emirate.
The government-owned group has been negotiating with a group of lenders, including local banks Emirates NBD, Mashreq and Dubai Islamic Bank, according to people familiar with the matter. The negotiations are set to refinance 11bn UAE dirhams ($3bn) of existing debt and to raise Dh6bn…
