With stunning professional photos to a great price, house-hunters can easily fall victim to fraudMarch 30, 2015 11:38
Emaar Properties denies plans to build tower taller than the Burj Khalifa
Dubai-based developer issues statement to dismiss media reports.
November 4, 2013 11:31 by kippreport
Emaar Properties dispelled rumours this week and confirmed that it currently has no plans to construct a new tower in Dubai that would trump the Burj Khalifa in height.
In a statement, the developer denied reports by the media, adding that a TV interview featuring Emaar’s chairman was wrongly used as a source.
“In a television conversation with CNN in April, company chairman Mohamed Alabbar discussed tall towers and modern technologies that would make it possible for Dubai to build another tall building. The current media reports use this April conversation as a source, which does not spell a firm decision. Emaar, however, does not have any current plans to develop a building taller than the Burj Khalifa in Dubai,” the statement reveals.
At the time, Alabbar was quoted saying that the city can accommodate a tower taller than the Burj Khalifa, that technology has improved the value of tall buildings and that they have learned “how to make money out of tall buildings”.
Built by Emaar Properties in 2010, the 828-metre Burj Khalifa is currently the world’s tallest tower. However, by 2017 to 2018, it will be overtaken by Jeddah’s Kingdom Tower, which is currently under construction in Saudi Arabia. The tower is being developed by Prince Al Waleed bin Talal and will reportedly be at least one kilometre high.
Last month, Emaar Properties announced net profit of AED581 million in Q3 2013, 50 per cent higher than what it earned during the same period last year. It also recorded net profit of more than AED1.8 billion during the first nine months of 2013, approximately 13 per cent higher than last year.