{"id":43027,"date":"2017-02-06T16:45:58","date_gmt":"2017-02-06T09:45:58","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=43027"},"modified":"2017-02-06T13:58:48","modified_gmt":"2017-02-06T06:58:48","slug":"emaar-agrees-to-dh1-22-billion-insurance-claim-on-address-downtown-hotel-fire","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emaar-agrees-to-dh1-22-billion-insurance-claim-on-address-downtown-hotel-fire\/","title":{"rendered":"Emaar agrees to Dh1.22 billion insurance claim on Address Downtown hotel fire"},"content":{"rendered":"


\nDubai developer Emaar Properties has confirmed that it has agreed a billion dirham insurance claim with Orient Insurance over the dramatic fire at its Address Downtown hotel on New Year’s Eve 2015.In a statement to the Dubai bourse this morning Emaar confirmed that it had agreed a Dh1.22 billion insurance claim with Orient Insurance for the fire at the 63-storey tower which police later said was caused by an electrical short circuit on a spotlight.The vast insurance claim is thought to be the largest ever agreed in the GCC and Middle East.Dubai’s largest listed developer said that the insurance claim would mean that it could reverse a Dh301 million provision made in its 2015 accounts.Emaar said that this would mean that the cash would be recorded as income in its fourth quarter 2016 results.Last year Emaar’s fourth quarter results missed analysts’ expectations due to the Dh301 million write down.lbarnard@thenational.aeFollow The National’s Business section on Twitter
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\nSource : thenational.ae
\nRead more…Emaar agrees to Dh1.22 billion insurance claim on Address Downtown hotel fire<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Dubai developer Emaar Properties has confirmed that it has agreed a billion dirham insurance claim...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-43027","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-bbZ","jetpack-related-posts":[{"id":43083,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emaar-to-receive-dh1-22-billion-insurance-claim-on-address-downtown-hotel-fire\/","url_meta":{"origin":43027,"position":0},"title":"Emaar to receive Dh1.22 billion insurance claim on Address Downtown hotel fire","date":"February 6, 2017","format":false,"excerpt":"\r Dubai developer Emaar Properties has agreed a billion dirham insurance claim with Orient Insurance over the dramatic fire at its Address Downtown hotel on New Year's Eve 2015. In a statement to the Dubai bourse this morning Emaar confirmed that it had agreed the Dh1.22 billion insurance claim with\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":505,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubai-developer-emaar-says-no-material-impact-on-company-after-the-address-fire\/","url_meta":{"origin":43027,"position":1},"title":"Dubai developer Emaar says ‘no material impact’ on company after The Address fire","date":"January 3, 2016","format":false,"excerpt":"\r \r Emaar Properties said there would be \u2018no material impact\u2019 on the company following the fire at The Address Downtown in Dubai.The blaze, which happened on New Year\u2019s Eve just before the city\u2019s firework display, engulfed the 63-storey luxury hotel and residential tower. The flames In a statement to\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":621,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emaar-says-no-material-impact-on-company-after-the-address-fire\/","url_meta":{"origin":43027,"position":2},"title":"Emaar says ‘no material impact’ on company after The Address fire","date":"January 3, 2016","format":false,"excerpt":"\r \r Emaar Properties said there would be \u2018no material impact\u2019 on the company following the fire at The Address Downtown in Dubai.The blaze, which happened on New Year\u2019s Eve just before the city\u2019s firework display, engulfed the 63-storey luxury hotel and residential tower. The flames were extinguished on Saturday.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":46869,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emaar-chairman-hopes-for-better-year-after-tough-2016-for-dubai-developer\/","url_meta":{"origin":43027,"position":3},"title":"Emaar chairman hopes for better year after tough 2016 for Dubai developer","date":"March 6, 2017","format":false,"excerpt":"\r Mohamed Alabbar, chairman of Dubai's largest listed real estate developer, Emaar Properties, said on Monday he was hoping for a better year after a tough 2016.The Arabian Gulf construction sector has slowed since mid-2014 after the slump in global oil prices forced governments to rein in spending.\"We hope 2017\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4319,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emaar-reports-full-year-gains-despite-the-address-downtown-dubai-blaze-writedown\/","url_meta":{"origin":43027,"position":4},"title":"Emaar reports full-year gains despite The Address Downtown Dubai blaze writedown","date":"February 11, 2016","format":false,"excerpt":"\r \r Emaar Properties posted fourth-quarter results that missed expectations after a Dh301 million writedown arising from the New Year's Eve, blaze at its flagship hotel in Dubai. Net profit in the three months to December 31 was Dh1.03 billion, a 1 per cent drop from a year earlier, the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4321,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emaar-earnings-hit-by-the-address-downtown-dubai-blaze-writedown\/","url_meta":{"origin":43027,"position":5},"title":"Emaar earnings hit by The Address Downtown Dubai blaze writedown","date":"February 11, 2016","format":false,"excerpt":"\r \r Emaar Properties posted fourth-quarter results that missed expectations after a Dh301 million writedown arising from the New Year's Eve, blaze at its flagship hotel in Dubai. Net profit in the three months to December 31 was Dh1.03 billion, a 1 per cent drop from a year earlier, the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/43027"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=43027"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/43027\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=43027"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=43027"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=43027"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}