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Emaar Properties said there would be \u2018no material impact\u2019 on the company following the...<\/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-505","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\/p75ss1-89","jetpack-related-posts":[{"id":621,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emaar-says-no-material-impact-on-company-after-the-address-fire\/","url_meta":{"origin":505,"position":0},"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":619,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emaar-hotel-revenue-to-be-hit-after-dubai-fire-as-developer-appoints-contractor-to-restore-the-address\/","url_meta":{"origin":505,"position":1},"title":"Emaar hotel revenue to be hit after Dubai fire as developer appoints contractor to restore The Address","date":"January 4, 2016","format":false,"excerpt":"\r \r Investors yesterday shrugged off worries over the long-term effect on Emaar Properties\u2019 outlook from the fire that broke out at its Address Downtown Dubai hotel on New Year\u2019s Eve. Emaar\u2019s share price pared losses in Dubai yesterday to end the session down 1.58 per cent, after slumping 4.4\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":505,"position":2},"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":505,"position":3},"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":[]},{"id":577,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emaar-shares-tumble-in-first-day-trading-since-the-address-fire-in-dubai\/","url_meta":{"origin":505,"position":4},"title":"Emaar shares tumble in first day trading since The Address fire in Dubai","date":"January 2, 2016","format":false,"excerpt":"\r \r The UAE\u2019s stock markets were down as they opened for the first time in 2016.The Dubai Financial Market General Index opened the year 1.0 per cent lower while the Abu Dhabi Securities Exchange General Index had fallen 0.7 per cent as of noon.The kickoff of trading for 2016\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":635,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emaar-says-sees-no-material-impact-from-hotel-fire-as-shares-fall-in-opening-trading\/","url_meta":{"origin":505,"position":5},"title":"Emaar says sees "no material impact" from hotel fire, as shares fall in opening trading","date":"January 3, 2016","format":false,"excerpt":"\r The developer's The Address Downtown hotel on New Year's Eve, which it says was covered by insurance\r \r Source : arabianbusiness.com\r Read more...Emaar says sees \"no material impact\" from hotel fire, as shares fall in opening trading","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\/505"}],"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=505"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/505\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=505"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=505"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=505"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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\nEmaar 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 the Dubai Financial Market this morning, Ayman Hamdy, Emaar\u2019s general counsel, confirmed that the building was covered by insurance.
\n\u201cThe fire has been contained and the cause is being investigated by the company and the relevant authorities.\u201cThe building and risk of fire are covered by insurance so there should be no material impact on the company as a result of this incident.\u201dShares in Emaar, the Dubai Financial Market\u2019s heaviest stock at 18.8 per cent, were down 2.6 per cent at 11am as UAE markets opened for the first time in 2016.
\nThe company\u2019s chairman, Mohamed Alabbar, said yesterday that it intends to restore the building \u201cto all its glory and even surpass the splendid architectural standards. Further timelines and plans will be shared as they are finalised.\u201d\u201cWe develop our projects to the highest standards of quality and as per international best practices,\u201d he added.ioxborrow@thenational.aeFollow The National\u2019s Business section on Twitter
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\nSource : thenational.ae
\nRead more…Dubai developer Emaar says \u2018no material impact\u2019 on company after The Address fire<\/a><\/p>\n