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11-Oct-2016

Dubai starts work on The Tower, a JV project between Emaar and Dubai Holdings

Dubai has started building what would be the world’s tallest tower. The Tower at Dubai Creek Harbour, which is a joint venture between Emaar Properties and Dubai Holding, will be completed in 2020 according to the Dubai government. Guinness World Records defines a tower as a structure in which less than 50 percent of the total height is useable floor space. The world's tallest tower is the Tokyo Sky Tree, a 634-metre-high broadcasting, restaurant and observation tower. Dubai, a major tourism and entertainment center, is continually laying plans for new attractions. Its new tower, part of a plush new residential area next to a waterfront, will feature several garden-themed observation decks. (Reuters)   Emaar: AED6.88 as of 10 October 2016, Rating: Buy, FV: AED10.29 per share, MCap: USD13,422mn, EMAAR UH / EMAR.DU

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