Emaar is seeking $1.4bn from non-core assets sale, report says - The National

Emaar is seeking $1.4bn from non-core assets sale, report says - The National:

Emaar Properties, Dubai's biggest real estate firm, plans to sell non-core assets including the bulk of its hotel portfolio and several schools and healthcare facilities to raise $1.4 billion, according to a news report.

The company has hired Standard Chartered bank for the sale process and is close to a deal with several parties, the UK’s Financial Times reported on Monday, citing unidentified people briefed on the process.

Emaar wants to raise $700 million by selling its entire hotel portfolio except two properties, and another $700m for clinics and schools across its mixed-use communities, according to the FT.