A New Year should be a new start for Nakheel

The man at the top of indebted Nakheel’s tree ended 2012 with a fair bit of rattle and hum

 

REVEALED: How the crash hit Palm property prices

1,634 sq ft, two bedroom apartment with sea view and one car parking space.

2008 sale price: AED4.92m

2012 sale price: AED1.49m

Price decrease: 69.7 percent

Thursday, 5 Apr 2012 10:33 AM
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Posted by: Peter Hudson

Sanjay Manchanda is a refreshing change from those who were previously running Nakheel and brought it to ruin.

Real Estate is a simple business but it's an unforgiving business.

2+2 is always 4 and never 22. Never has been and never will be! Sanjay Manchanda knows that. He also knows Nakheel has a very long way to go before it's able to get over its customer relations and financial management fiascos and salvage even a small measure of credibility.

Posted by: Ronald

The first order of business for Sanjay Manchanda this year should be to fire his spin advisors, who have led him down a woeful path of confrontation and hectoring. He presides over a company that single-handedly destroyed Dubai's reputation yet he continues to tell investors it is their indaba that he can't pay bills of finish projects. By being aggressive and insensitive he has drawn the battle lines, and the media will be unforgiving, even when he turns a profit.

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