Dubai’s Emaar chairman hopes for better year after ‘tough’ 2016

Dubai: Mohammad Al Abbar, chairman of Dubai’s largest listed real estate developer Emaar Properties, said on Monday he was hoping for a better year after a “tough” 2016.

Emaar, which built the world’s biggest tower, the Burj Khalifa, has an $11.4 billion backlog of projects, he said at an investment conference in Dubai.

Al Abbar also said he was “cautiously optimistic” about Dubai’s property market in years ahead. Meanwhile, trade in shares of the company will be suspended from 12pm due to a board meeting.