Nakheel could be inline for extra financial help from the Dubai government later this year as part of plans to repay a $3.52bn (AED21.9bn) Islamic bond, a senior government official has revealed.

Nasser Al Sheikh, director general of Dubai’s Department of Finance, confirmed that the developer’s outstanding Islamic bond fit criteria for funding under the government’s $10bn bond scheme, which was launched in February.

'There is a criterion that has to be met, and if that happens we will support any government-related entity,' he said in an interview with UAE daily Gulf News, on the sidelines of the World Economic Forum in Jordan.