Dubai's Emaar denies rumours Alabbar is quitting
Burj Khalifa developer shoots down speculation chairman is intending to leave the company
Emaar has issued a statement categorically denying rumours that chairman Mohamed Ali Alabbar is to quit the company.
In a statement to the Dubai bourse, Emaar said Alabbar is managing the business on a daily basis, is committed to the company and “is leading its expansion at different levels locally in Dubai and internationally
Speculation arose after Alabbar participated at an investment conference in Egypt last week in a presentation about the construction of a new $45 billion capital city for the country.
Capital City Partners, the company behind the project, was co-founded by Alabbar – but Emaar has said it is not involved.