DUBAI: Dubai's Emaar Properties, builder of the world's tallest tower Burj Khalifa, will pay a 10 per cent cash dividend for 2011 and said yesterday it would look to its overseas business for a revenue boost next year.
Shareholders also approved a new board with seven new members.
Chairman Mohammed Alabbar said Emaar had no plans to tap debt markets in 2012. The firm raised a $1 billion loan in December, backed by the mammoth Dubai Mall.
Alabbar said Emaar, which is about 30pc owned by Dubai's sovereign investment vehicle, would focus on boosting revenues from its global operations next year and enhancing profit from recurring revenues.
The developer has been gradually shifting its focus away from Dubai realty, hard-hit in the emirate's 2008 property collapse.