Abu Dhabi-Mubasher: A Dubai court has issued a ruling in favor of Nakheel against Safi Qurashi and his business associates.

The court ordered Qurashi to pay AED 11 million to Nakheel in respect of money owing on land at Dubai Waterfront.  

Safi Qurashi, the founder and CEO of Dubai-based Q Group – which is developing the Great Britain Island on Nakheel’s The World project – has been embroiled in legal disputes with the developer ever since Dubai’s property crash in 2009, according to Gulfbusiness website.

In Feb. 2012, the court ordered Nakheel to pay nearly AED 11 billion to former Chief Executive Chris O'Donnell.

 FY2014 net income rose to AED 3.68 billion ($1 billion) from AED 2.57 billion a year earlier.

Photo Credit: Arabianeye-Reuters