Government to take over Nakheel, Limitless

Dubai World announced on Wednesday that it had signed agreements setting out the terms to separate its property units Nakheel and Limitless in order to transfer them to the Dubai government as part of a complex and protracted restructuring process.

The board of the Dubai government’s flagship conglomerate also named Andy Watson as its managing director and Junaid Rahimullah as chief financial officer.

For more information visit Dubai real estate

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