Emaar hints at skyscraper taller than Burj Khalifa – News
Emaar Properties chairman Mohamed Alabbar hinted that he would build another skyscraper taller than Burj Khalifa and said his company would continue to launch new projects on a regular basis.
Alabbar made the remarks on Wednesday during a plenary session titled “Breaking Barriers and Connecting Businesses” at the Africa Global Business Forum.
“We may try to build something taller,” he said, referring to the 828-meter-high Burj Khalifa, built by Emaar Properties in 2010.
“The emirate needs another skyscraper. Dubai is only about 30 years old, so we still have a lot of time and a lot of investment,” Alabbar told journalists at a conference.
He ruled out another bubble in the property market, saying there is very strong demand for properties in the emirate. However, he warned that the practice of speculative buying for quick resale should be controlled to ensure market stability. He said banks and financial companies had resumed mortgage lending but were “very cautious” this time.
“The government and relevant authorities have taken concrete steps to control ‘flipping’ in the real estate market,” he said.
He expressed his confidence in the emirate’s real estate sector, saying: “We will continue to launch new projects every week.”
