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FINANCIAL NEWS
UAE Emaar to construct more than 1km-high tower in Asia
31 Mar 2013
(MENAFN) UAE-based Emaar Properties, the company behind the world’s current tallest tower in Dubai, is reviewing plans to construct more than a 1km-high tower in Asia, reported Arabian Business.
Emaar chairman Mohamed Alabbar said that he is looking forward to the project and that the location has been selected and primary drawings are completed.
Alabbar also said that Emaar’s project will be a bit taller than the 1km tall Kingdom Tower in Jeddeh, which is set to pull the carpet from under Burj Khalifa’s tower.
It’s worth mentioning that Emaar’s fiscal situation for 2012 saw an 18 percent increase in net income to USD577 million, moreover, its shopping malls and retail business added USD740 million to revenue.
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