The emirate is separated from its Atlantis hotel

It is at the top of the palm.
The area occupied is the sum angeschlagenene Dubai World Group help from the debt.

Because of the continuing debt crisis, the state-owned construction company Dubai World has sold one of the most famous buildings in the emirate. The shimmering in pink palace of the Atlantis hotel crowns the man made island shaped like a palm tree, with the boom pushed the emirate's dream blooming desert landscapes. The sale of the building silverware Dubai has solved the debt problem of his conglomerate Dubai World for almost a year after the near-collapse.

After months of struggle, the state company which received approval of its creditors for a rescheduling of almost 25 billion dollars that it no longer could last. With few exceptions, donors accepted until Friday to recover their investment in only five to eight years and paying interest of only one to get to 3.5 percent.
Also, casinos are to be sold

Dubai World wants to make up liquid in eight years through the sale of property $ 19.4 billion, Istithmar, the investment subsidiary within five years a further 4.5 billion dollars. The fund has invested his money, especially abroad. On the market earlier reportedly is also the casino operator MGM. Is hoped that the long period of Dubai World, nine billion dollars more to get for his goods, as in a sale under current market conditions.
Also to the construction company owned by Dubai World Nakheel is still in the midst of negotiations for its debt restructuring. According to current plans, the daughter from the custody of the mother to be released and transferred directly into public ownership.

Government talks a decisive step
The government expressed relief at the timely approval of 99 percent of the creditors. "The agreement is a critical step, Dubai World to provide financially solid and stable on your feet," said Shaikh Ahmad Bin Said al-Maktoum, Chairman of the Board of Finance Committee of the emirate.
Unlike usual, the creditors will receive in the compromise, the prospect of their money back in full - albeit with many years of delay and reduced yield. In addition, let the oil sheiks are not their flagship project: The emirate has the group adopted a portion of the debt and will remain a shareholder who is Al-Maktoum saying that "feels the company remains committed." Receives the signed and sealed agreement on 1 October.

On the markets, that the observance of the agreement period was considered a good sign. "We thought that the conclusion will not come before October or November," said the credit expert Andre Andrijanovs of Exotix in London. "That has already folded this week, Dubai will give a positive impulse." The bankruptcy of one of the richest countries in the world had in late November last year triggered fears of a resurgence of the financial crisis. The markets took days to recover from the shock.

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