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Developer Nakheel has again delayed repaying $10.5bn (拢6.5bn) of debt to creditors, including UK consultants, some of whom are now 鈥渏aded鈥� by the company鈥檚 failure to pay up.

However, despite being 鈥渄isappointed鈥� by Nakheel鈥檚 second missed deadline this year, engineer Halcrow, which is one of those owed money, confirmed that it had signed a contract to start new work for the Dubai-based firm.

Last week Nakheel, responsible for schemes including the man-made Palm island, said that it now expected its debt restructuring to be finished in the first half of 2011, rather than in the first quarter of the year as previously promised.

Nakheel is thought to owe 拢250m to UK consultants and engineers including Halcrow, Atkins, EC Harris, Hyder, Mouchel and WSP.
One consultant owed money by Nakheel, who wanted to remain anonymous, said he was 鈥渘ot surprised鈥� by the announcement.

鈥淲e鈥檝e all had big money owed to us, but we鈥檝e not seen any of it,鈥� he said.

David Yaw, regional managing director for Halcrow, said that despite the announcement the engineer last week signed a new deal to work on a 鈥渕odest sized鈥� project for Nakheel in the UAE.

鈥淲e were a bit disappointed,鈥� he said. 鈥淏ut are we totally despondent and think that it鈥檚 [the repayment] not going to happen? No.鈥�
In January Nakheel said that 91% of creditors had agreed to a deal where 40% of debts would be paid in cash, and the remaining 60% in sukuks - a type of Islamic bond - to be issued in the first quarter of this year. It needs 95% of them to agree to the plan before it will proceed.