All Entries Tagged With: "emaar"
Burj Khalifa bomb threat was plot to jail innocent man, court told
A man contacted Dubai Police headquarters and threatened to blow up the Burj Khalifa unless US$1 million (Dh3.7m) was paid to him, a court heard this morning. The 38-year-old Indian businessman JF sent a text to a Dubai Police major on February 5 saying, “tomoro burj kaleefa blast arange no arrange 1oooooo dollar take”, prosecution records show.
Market to remain sluggish
In property sector, Arabtec Holding and Emaar Properties gave support to the main index with modest gains in low-trade market activity. Arabtec advanced 2.98 per cent to Dh1.38 while Emaar climbed 1.81 per cent to Dh2.81. Union Properties fell 3.39 per cent to 37 fils.
Emaar terminates $86.7m contract with Al Radwan
Saudi Arabia-based Emaar The Economic City, or EEC, said on Saturday it has terminated a SR325 million ($86.7 million) contract signed in 2008 with Al Radwan Contracting Co for the construction of 134 villas in King Abdullah Economic City.
Dubai’s Burj Khalifa builder Emaar profit drops 69 percent on fewer home handovers, writedown
Emaar Properties said Tuesday it earned 250 million dirhams ($68.1 million) from April through June, compared with the 802 million dirhams booked in the same period a year earlier. This year’s figure includes a 172 million dirham charge to cover Emaar’s 30 percent stake in Dubai Bank.
Emaar in spotlight as DFM slides
Dubai’s market dipped yesterday on concern the emirate’s biggest companies would report lower than expected second-quarter results.
Spotlight falls on Emaar Properties stake in troubled mortgage company Amlak
Now that Emaar Properties has written off its Dh172 million investment in Dubai Bank, investor attention is turning to the prospects of its much larger stake in Amlak, the troubled mortgage company. Amlak is carrying about Dh4 billion worth of property on its balance sheet at the original acquisiti0on costs.
Emaar sets up senior team to develop new action plan
Emaar Properties said on Saturday it had set up a new team of senior managers and consultants to develop a five-year action plan. The Dubai-based developer of the Burj Khalifa, the world’s tallest tower, said the team would “develop and roll-out a five-year corporate strategic action plan for long-term value creation”.
Emaar founder eyes Africa’s commodity riches
Mohammed Ali Alabbar, chairman of Dubai real estate mammoth Emaar, has adopted a lower profile within the emirate during the past couple of years.
Emaar names McKinsey for review
Emaar Properties has hired consultant Mc-Kinsey to conduct a strategic review of its international operations, sources said yesterday. The McKinsey review mainly relates to the developer’s property segment, said the sources.
‘I’m not leaving Emaar,’ says Mohamed Alabbar
Mohamed Alabbar is not planning to step down from his role as chairman of property firm Emaar, despite spending an increasing amount of time on a private mining company.
