Nakheel receives $2.45bn from Dubai fund: official

A Dubai fund designed to help state-linked firms had given Dubai World's property unit Nakheel $2.45 billion (Dh9 billion) to meet obligations, Dubai's finance chief said on Tuesday, but it was unclear when the money was disbursed.

"The fund ... has given about Dh9bn to Nakheel to meet its obligations," Abdul Rahman Al Saleh told Al Arabiya television.

In May, Nakheel's chief executive said it had received funds from the Dubai Support Fund, which has so far raised $15bn from the United Arab Emirates' central bank and two Abu Dhabi banks.

Saleh said the money had been injected since "the crisis", but did not specify if he was referring to the global financial crisis which hit the emirate's real estate sector late in 2008 or the Dubai World debt issue.