Dubai's Emaar says Saudi deal still conditional

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Dubai developer Emaar Properties EMAR.DU said on Tuesday a deal signed with Saudi Arabia's Kingdom Holding 4280.SE was still conditional and would focus solely on managing the development process.

In a statment on the Dubai bourse website, Emaar said it was too early to envisage the level of income from the project as it was still in feasibility study stage.

Emaar on Sunday denied it was investing in a development by Saudi Arabia's Kingdom Holding that will feature what would be the world's tallest tower, but said it was in a deal to offer management services against a fee.