Dubai's troubled real estate giant Nakheel said on Wednesday it will repay maturing Islamic bonds reportedly worth $980.1 million on time and in full. “Nakheel today announces that the Dubai Financial Support Fund has made available sufficient funds to allow for the repayment in full of the Sukuk issued by Nakheel Development ... which matures on 13 May 2010,” the firm said. A spokeswoman declined to confirm the value of the expiring bonds, which local papers have put at $980.1 million. The payment is part of a restructuring plan announced by Dubai's government in March to inject $9.5 billion into Nakheel's former parent conglomerate, Dubai World, as part of a proposal to creditors to restructure some $23.5 billion of debt. At the time, Dubai also announced that, as part of the restructuring plan, Nakheel would cease to be a subsidiary of Dubai World and would be held directly by the government. Nakheel had borrowed heavily to finance its massive construction projects during the city's property boom, which ground to a halt after the emirate was hit by the global financial crisis.