Emaar, the developer of the world’s tallest tower, has denied media reports that said it is selling two of its hotels in Dubai.
Emaar spokesperson told Arabic daily ‘Al Bayan’, “It is mere rumours and speculation.”
‘ArabianBusiness.com’ had reported on its website on Tuesday that the developer is going to sell two hotels – Al Manzal two and Qamarudin -near Burj Khalifa apart from other assets.
The website said the developer is looking for buyers for two of its four-star business hotels in Downtown Burj Dubai. The report also mentioned concerns over Emaar’s liquidity in the wake of sale talks. A real estate analyst was quoted by the website as saying the proceeds from the deal would be pumped into Emaar’s unfinished projects in Dubai.