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Emaar Properties says not selling Burj Khalifa observation decks

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Emaar Properties says not selling Burj Khalifa observation decks

Emaar Properties PJSC said it is not selling the At The Top observation decks of the Burj Khalifa skyscraper in Dubai, United Arab Emirates, in response to a recent media report.

The Dubai-based property developer noted that it is contemplating a "structured transaction wherein financing is being raised against the cashflows" of the business, adding that it is raising the financing "in the normal course of business."

Emaar Properties was recently said to have tapped Standard Chartered to advise on the potential sale of the observation decks, which reportedly could be worth about $1 billion.