Emaar Properties "not selling the At the Top business in Burj Khalifa"
Developer aims to raise capital against the At the Top business’ cashflows, but will not sell the observation deck
Contradicting certain local and international media reports, Dubai-based real estate developer Emaar Properties has said that it “is not selling the At the Top business in Burj Khalifa.”
The statement was submitted through the Efsah system on the Dubai Financial Market (DFM).
The developer said that it is considering a structured transaction wherein “financing is being raised against cashflows of the At the Top business.” This shows that Emaar Properties is attempting to raise capital, but does not intend to sell the Burj Khalifa’s observation deck business.
The world’s tallest tower – Dubai’s Burj Khalifa – stands at 828m and was an international collaboration between more than 60 contracting and consulting companies from all over the world.
At the peak of its construction, more than 12,000 technicians and contractors were on site every day, representing more than 100 nationalities.