Emaar Properties PJSC, the developer of the world’s tallest tower in Dubai, is seeking to borrow $700 million, Chairman Mohamed Alabbar told Dubai TV.
Emaar Properties PJSC, Dubai’s largest publicly traded developer, said it expects profit to more than triple in the next five years as it hands over completed properties to buyers.
Dubai’s developers, battered by three years of falling prices for homes and offices, are seeking refuge in retail assets as shopping tourism powers the economy.
Emaar Properties PJSC, Dubai’s biggest property company, surged to the highest in six weeks after agreeing to investor demands for the first dividend payout since 2008.
"The market's cooling down is healthy."
- Mohamed Alabbar on Oct 27, 2014