Dubai World’s Nakheel property arm gets control of Limitless real estate unit in reshuffle

Dubai World further reshuffles business units

DUBAI, United Arab Emirates — The main property unit of Dubai World has been given control of another real estate company run by the indebted state conglomerate.

Dubai’s media office said in a statement dated Saturday that Dubai World’s Nakheel division will assume management responsibility for the conglomerate’s Limitless unit.

The company also named a new board at another Dubai World division, Economic Zones World, which runs business parks.

Financial problems at Dubai World last year sparked a financial panic that spread around the world. The company has spent months reorganizing its business while working on a plan to restructure $23.5 billion worth of debt.