Daijiworld Media Network - Dubai (SHP)
Dubai, Dec 25: On Tuesday, Dubai's Emaar properties stated that it was raising capital through cash generated by the observation decks on its Burj Khalifa skyscraper and was not planning on the sale for the same.
However, on Monday, a report on Reuters claimed that Emaar was planning on the sale of 'At The Top' observation deck and had hired Standard Chartered to advise them on the process.
Meanwhile, Emaar has debunked those claims and stressed that they would not be selling the deck. But, at the same time also announced that it is 'currently considering a structured transaction wherein financing is being raised against cashflows of At The Top.'
As per sources, the viewing decks make about Dh600-700 million ($163-$191 million) a year.