Nakheel’s chief commercial officer has left the state-linked Dubai developer, as its parent Dubai World tries to restructure $22bn (£14.3bn) of debt
Nakheel did not make the nature of Manal Shaheen’s departure clear, but the high-profile exit comes amid a spate of job losses. Dubai World is due to present a repayment plan to creditors next month.
Nakheel owes money to UK contractors and consultants, as well as banks and bond-holders, and payments are understood to have slowed even further amid the restructuring talks.
Dubai World is unlikely to pay off Nakheel’s $980m (£635m) bond, due on 13 May, commentators believe.
In November, Dubai World shocked global markets by saying it would ask to delay repaying $26bn (£16.9bn) of its debts.