Emaar sells the Address Sky View for 750 million dirhams

Emaar Properties stated, in a statement to the Dubai Financial Market, that it has waived all its stakes in one of its subsidiaries, which is "ASV Group Limited", the owner of the "Sky View" hotel.

The explanatory statement from the company came after information was leaked from the company that a European fund had bought the Address Sky View Hotel, located in the “Sky View” towers in Downtown Dubai opposite Burj Khalifa, for 750 million dirhams, which was confirmed by Emaar in its statement.

According to the statement, "Emaar" revealed that the net effect on the financial position is an increase in assets by about 50 million dirhams during the fourth quarter of last year, indicating that the sale is in line with the strategy of light assets in relation to the hospitality assets owned by the company.

The hotel includes 169 rooms, distributed on the upper levels of the "Sky View", which consists of two towers linked via the famous "Sky Bridge" upper bridge to the "Infinity" swimming pool, which is 70 meters long.

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