Nakheel PJSCÂ is offering to expedite payment of arrears to contractors who are willing to reduce the debt, Arabian Business reported, citing a contractor.
The Dubai-based magazine cited Abdullah al-Gurg, group general manager at contractor Easa Saleh Al Gurg Group, on its website.
Nakheel said on July 14 a group of creditors unanimously supported a plan on altering the terms on $10.5 billion of loans and unpaid bills. The company planned to pay 40 percent of the money owed to trade creditors in cash and 60 percent through tradeable Islamic bonds.
Nakheel didn’t immediately respond to e-mailed questions seeking comment today.
