Emaar gets an up­graded sta­tus

7 Days in Dubai - - NEWS -

Emaar has been up­graded by Moody’s In­vestor Ser­vice to a “sta­ble” out­look. Mo­hamed Alab­bar, Chair­man of Emaar Prop­er­ties, said: “The up­graded rat­ings un­der­line the strong fi­nan­cial fun­da­men­tals of the com­pany and our fo­cus on sus­tained value cre­ation for our stake­hold­ers. “This year, Emaar and Emaar Malls to­gether have dis­trib­uted more than Dhs2.375 bil­lion in div­i­dends, defin­ing the sig­nif­i­cant value that we bring to our share­hold­ers. “We are con­tin­u­ing to build on our ro­bust cre­den­tials with iconic projects that sup­port the vi­sion of Sheikh Mo­hammed bin Rashid Al Mak­toum, UAE Vice Pres­i­dent and Prime Min­is­ter and Ruler of Dubai, to es­tab­lish the city as a global hub of busi­ness, tourism and leisure. “Emaar has recorded sig­nif­i­cant growth in prop­erty sales in our core mar­ket of Dubai and other in­ter­na­tional mar­kets. “We have a to­tal back­log in the UAE alone val­ued at Dhs28.3 bil­lion to be recog­nised over the next four to five years.”

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