Dubai's flagship holding company seeks debt standstill
The sun never sets on Dubai World - or so their tagline reads, but yesterday (Wed 25 Nov) Dubai's flagship company, which encompasses property investment firm Nakheel, requested a debt standstill to last until the end of May. The request represents the clearest sign yet that the Dubai economy is still in the thick of the financial crisis. Dubai World, headed up by Chairman Sultan Ahmed Bin Sulayem is run by the city's government who had promised investors that all obligations to the $80bn debt would be met. "Investors have the full backing of Dubai World, one of the largest holding companies in the world as its ultimate parent holding company," reads a statement on the......more
Vinoly's first airport completes Carrasco International Airport terminal to open next month: Rafael Viñoly Architects has completed its first ever airport terminal which is to open next month in Viñoly’s home country. Carrasco International Airport in Uruguay and will expand the......more
Birmingham icon approved Mecanoo Architects' Library of Birmingham passed through planning: A £193million investment by one of the UK’s largest cities is set to pay off following the approval of planning permission for a landmark building today. The Library of Birmingham......more
Climbing the slope of sustainability Housing proposal sets the example for future on-site energy generation: C. F. Møller Architects' design for a 60 residence passive housing scheme has been said by judges in a concept competition to raise, 'important issues......more
Fashion forward NY City approves glass tower for Meatpacking District: The New York City Board of Standards and Appeals has granted developer Romanoff Equities five variances to build a 10-storey glass tower on a prime site in the fashionable Meatpacking District......more
Courting success Frederiksberg Courthouse competition winners announced: 3XN, Lemming & Eriksson and Schønherr Landskab have won a competition for the Frederiksberg Courthouse in Denmark. Part of Greater Copenhagen, the city is currently......more
Edinburgh office squared off The Cube by Allan Murray Architects completes: The much anticipated delivery of The Cube office building in Edinburgh has arrived revealing an inviting contemporary concept for business space in the Scottish capital. Designed by Allant......more
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