Dubai: Emaar Properties has denied international news published earlier this week, and denied that it intends to sell views from the world’s tallest tower.
In a statement published on the Dubai Financial Market, Emaar clarified that contrary to reports, the company was merely considering to raise capital against cash flows generated by the observation decks on the Burj Khalifa. It was not intending to sell them.
The observation decks At the Top is a popular tourist destination in Dubai, which attracted 15.92 million overnight visitors in 2018.
The viewing decks reportedly make about Dh600-700 million ($163-$191 million) a year.
Emaar “would like to confirm that is not selling the At the Top business in Burj Khalifa” and is “currently considering a structured transaction wherein financing is being raised against cashflows of At The Top,” it said in a statement.
At over 828 meters, the Burj Khalifa is twice as tall as New York’s Empire State Building and nearly three times the height of the Eiffel Tower in Paris.
In the statement, Emaar said: “The Company is currently considering a structured transaction wherein financing is being raised against the cashflows of At the Top business. This financing is being raised in the normal course of business. Once the transaction is finalised and confirmed, the appropriate disclosures will be made.”
