Emaar mulls raising funds against Burj Khalifa observation decks

The Burj Khalifa attracts millions of tourists every year. (File photo: Reuters)

Dubai’s Emaar Properties said on Tuesday that it was considering raising capital against the cash flows generated by the observation decks on the Burj Khalifa.

“The company is currently considering a structured transaction wherein financing is being raised against the cashflows of At the Top business,” Emaar said in a statement to the Dubai bourse.

“Once the transaction is finalized and confirmed, the appropriate disclosures will be made,” it added.

Emaar’s statement came in response to a Reuters report that claimed that the company was selling the popular tourist attraction in a deal that could raise $1 billion.

“The company would like to confirm that it is not selling the At the Top business in Burj Khalifa,” Emaar said.

The Burj Khalifa, which is the tallest tower in the world, is one of Dubai’s top tourist attractions with millions of visitors every year.
 

SHOW MORE
Last Update: Wednesday, 20 May 2020 KSA 09:56 - GMT 06:56
Top