Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Emaar Is Seeking $700 Million Financing, Alabbar Tells Dubai TV

Emaar Properties PJSC, the developer of the world’s tallest tower in Dubai, is seeking to borrow $700 million, Chairman Mohamed Alabbar told Dubai TV.

“In the past we were cautious, but banks’ policies are clear to us,” Alabbar said on Zeina Soufan’s “Bildirham” program, according to an e-mailed statement. “If there is an institution with an outstanding financial position that is watched and attracts interest, then chances of financing and re-financing and prices would be excellent.”

The yield on Emaar’s Islamic bonds maturing August 2016 is 8.19 percent today compared with its peak of 9.52 percent on Oct. 4. Moody’s Investors Service raised Emaar’s rating by one grade to Ba3, the third-highest non-investment grade, on Oct. 17.

“We are carrying out a large financing transaction now,” he said. “We are talking about around $700 million.”

Alabbar said the company was planning to build a “commercial center” in its Eighth Gate development in Damascus, where the government has been facing protests for political reform since mid-March.

Emaar shares rose 0.8 percent at the 2:00 p.m. close in Dubai. The shares are down 30 percent this year.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.