Despite its debts, Nakheel has been seeking British consultants for a new development in Dubai
Debt-laden developer Nakheel is planning a new development in Dubai and has looked for British consultants to carry out work, Building can reveal.
A waterfront development has been planned in addition to the eight stalled projects Nakheel announced it was restarting in September last year, including buildings on the Palm Jumeirah.
It is understood that Nakheel, which owes UK consultants about £250m in fees, approached at least one British engineer in December to work on a new “small waterfront development in Dubai”.
A source said: “It wasn’t one of the projects they were restarting.
“They wanted it done urgently and very quickly - for the engineering to start by the end of the week, and be finished in five weeks.”
The exact name and value of the development are not known.
In September it restarted $7-8bn of work that had stalled as a consequence of the Dubai debt crisis in November 2009.