Dubai’s Emaar Properties stated Tuesday it was contemplating raising capital against cash flows produced by the observation decks on its Burj Khalifa skyscraper, however, was not taking a look at selling them.
A report came on Monday, citing sources, that Emaar was planning to sell the “At The Top” remark decks on the world’s tallest building and had employed Standard Chartered to advise on the method.
Emaar “would like to verify that it’s not selling the At The Top business” and is “at present contemplating a structured activity wherein financing is being raised against cashflows of At The Prime,” it stated in a bourse statement on Tuesday.
At over 828 meters, the Burj Khalifa is twice as tall as New York’s Empire State Constructing and almost three times the height of the Eiffel Tower in Paris.
At The Top overlooks the Dubai Fountains, another well-liked tourist attraction, with views of the town, the coast, and the desert.
The report cited two sources on Monday as saying the sale process started last month. The sources requested anonymity as the details weren’t public.
The viewing decks generate about 600-700 million dirhams ($163-$191 million) a year, one source stated.