Emaar boss looks to the fu­ture

Emaar chief on the Ad­dress blaze and The Tower

7 Days in Dubai - - FRONT PAGE - By 7DAYS News Team @7DAYSUAE news@7days.ae

The chair­man of Dubai prop­erty gi­ant Emaar has de­scribed how the Ad­dress fire was “scary” for the com­pany.

Mo­hammed Alab­bar also said safety is the “num­ber one” fo­cus, par­tic­u­larly when it comes to sky­scrapers such as the Ad­dress and the Burj Khal­ifa.

The Ad­dress is cur­rently be­ing par­tially re­built and will not reopen in 2016.

In an wide rang­ing in­ter­view with CNN’s Erin Bur­nett, Alab­bar said he is op­ti­mistic about the econ­omy, and said that oil pro­duc­ers coun­tries will “get used” to low prices.

He also said the plaza sur­round­ing The Tower, the sky­scraper planned for Dubai Creek Har­bour, would be more than twice the size of the Dubai Mall/Down­town shop­ping plaza area.

Asked about the ef­forts needed to main­tain Burj Khal­ifa, he said: “The Ad­dress fire was a scary thing for us, so safety is num­ber one.

“But I think the build­ing [Burj] is do­ing re­ally well… we have earth­quakes ev­ery once in a while com­ing from Iran, it stands it re­ally very well.”

He was also asked about oil prices, which stood at $50 yes­ter­day, up from $28 in Jan­uary.

He said: “Busi­ness is good, I must say prob­a­bly to­wards the end of last year, a lit­tle bit of con­cern with in­ter­est rates, oil prices, is­sues in China, but things are sta­bil­is­ing a lit­tle bit, the year is look­ing much bet­ter than we thought.

“I think psy­cho­log­i­cally peo­ple have sta­bilised their minds... even if it comes down to $30-$35... peo­ple get used to that.”

Alab­bar also spoke about The Tower in Dubai Creek Har­bour, and said the sur­round­ing plaza - 1,200 hectares - would be far larger than the 500-hectare Dubai Mall and prom­e­nade area.

Some re­ports said The Tower will be 100m taller than Burj Khal­ifa, though that is yet to be con­firmed.

He added: “You know when kids come and look at the Burj, and they look at the new burj [ The Tower], for them, th­ese are such spe­cial mo­ments.”

DAM­AGE: The Ad­dress is be­ing re­paired but will not reopen in 2016

Newspapers in English

Newspapers from UAE

© PressReader. All rights reserved.