Wednesday, August 4, 2010

Palm Jumeirah hotel development falls victim to delays

DUBAI—Nearly all 10 planned hotel properties on Dubai’s Palm Jumeirah archipelago have seen setbacks.

The US$12-billion artificial island is a flagship project constructed by United Arab Emirates-based developer Nakheel, a subsidiary of the Dubai government that sent shockwaves throughout the region after defaulting on US$26 billion dollars of debt last November.

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