Dubai: Nakheel would “seriously consider” going for an IPO at some point… but priority for the moment is clearing off its debt, according to its chairman.
On whether it could be a floating of its retail division – which is creating new mega malls on Palm and Deira Islands – Ali Rashid Lootah said: “Everything is possible.” Nakheel had made a statement of sorts by paying off Dh2.35 billion last month and well before it was actually due. It also reported a 27 per cent gain in net profit for 2013, to Dh2.57 billion.
Next month, the developer is getting set to launch a brand new residential community by mid-April, with a shopping centre to be the first component.
As for some of its earlier announced projects such as The World, which had stalled during the downturn, Lootah said: “Lots of people are talking about The World and some of the old investors have already started operations.
“We are willing to go in for co-operation with any other local developer if they want to buy prime land from us. We can be quite flexible with the payment terms.”
