On the heels of its malls unit becoming Dubai’s biggest public offering since 2007, Emaar Properties said it plans to sell shares in its hotel business “in the next few months,” Bloomberg reported.
Emaar Properties Chairman Mohamed Alabbar would not provide more details on the hotel IPO, according to Bloomberg, but Emaar did report it raised US$1.6 billion from its malls unit IPO.
Thanks to high occupancy and proximity to malls, “Emaar Hotels translates to solid revenue per room,” Tariq Qaqish, head of asset managemernt at Al Mal Capital, Dubai, told Bloomberg.