Dubai-listed Emaar says no financial impact from The Address fire

03/01/2016 Argaam

UAE-based Emaar Properties has said the fire at The Address Downtown Dubai will not have material financial impact on the company, as both the building and risk of fire are covered by insurance.

 

Authorities are still investigating the incident, it added in a statement to the Dubai Financial Market Sunday.

 

A fire broke out at The Address on Thursday night, just hours before New Year’s Eve fireworks celebrations were scheduled to take place at the nearby Burj Khalifa. The building was evacuated, but at least 16 people reported minor injuries.

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