It is being reported in the world’s press that Dubai Property developer Dubai World to meet forthcoming debt obligations, The Dubai World owner of Palm Jumeirah property Developer Nakheel and also private property equity firm Istithmar. Will sell Iconic assets it currently owns like QE2 which was destined to be converted to a luxury hotel moored on Palm Jumeirah, but with cash restrictions the developer had put the plans on hold since the purchase of the Cunard flagship in 2007 reportedly for a sum of $100m.

Also a stake in Palm Jumeirahs premier hotel and resort will be sold to fund payments in the future. The company owns many worldwide assets which it can draw upon but with the world’s property market in depression there will be many property bargains for the cash rich investors.