Dubai-Mubasher: The fire that engulfed Emaar Properties’ "The Address Downtown" hotel may postpone Emaar Hospitality Group’s (EHG) share offering plan beyond 2016, MubasherTrade Research (MTR) said in a report.
A huge fire erupted in Emaar's hotel on New Year’s Eve.
The accident will not have a material impact on Emaar as the building and risk of fire are fully covered by insurance, according to the real estate developer's bourse filing.
The report noted that the hotel blaze may affect Emaar’s plans to list EHG through an IPO, which was previously planned for end of 2015., MTR believes that Emaar may delay the IPO citing unsuitable market conditions.
