Monday 4 January 2010

Savvy financing behind Burj, worlds' tallest building (Interview)

Is it time for a victory march?

Victory is too strong a word. It’s more emotion. It’s emotional because it helps this city in being recognised. And emotional because we’ve learned so much going through this journey with all the mistakes we had as well.

How has Emaar avoided the debt problems that have tripped other Dubai companies?

The disciplines of being a public company I think have saved us. Our board has also done a lot of good work. There’s a lot of deliberation, a lot of debate, a lot of disagreement, just for the sake of the company. We have a lot of senior management who’ve gone through the 1997 crisis. They hate borrowing.

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