The annual shopping festival, running from January 1- February 1, is celebrating its 20th edition this year.
The decrease in oil prices has not had an impact on electricity generation in Dubai, said Saeed Al Tayer.
Emaar Properties owns 84.6 per cent of EMG, having floated 15.4 per cent of its subsidiary last September.
Renewable energy targets have been revised to 2.3 per cent by 2017 and 15 per cent by 2030.
Although the developer recorded a slowdown in sales during the second half of 2014, prices have stayed the same, says chairman.
The firm is seeking a three-month extension to a debt repayment due at the end of 2014.
The company made a net profit of Dhs3.68 billion ($1 billion) in 2014, up from Dhs2.57 billion in 2013, its chairman said.
Reef Towers will comprise of 378 units and seven retail units, the developer said.
The loan is expected to help fund the company’s general corporate needs and growth plans, the company said in a statement.
The emirate’s real estate market is also seeing a growing demand for affordable luxury homes, he said.
The company said that the loan was for general corporate purposes.
The newly launched firm is aiming to establish a real estate portfolio worth Dhs500 million by the end of this year, the company’s chairman said.
The bank’s profit was boosted by strong performance in operating income.
The bank said its 2014 balance sheet was strengthened by its reclassification of its exposure to Dubai World, as performing.
Tim Clark says airline industry will reap the benefits of lower oil prices in 2015.
Dubai’s residential sector is likely to remain subdued over the next 12 months with the market absorb 25,000 extra units in 2015.
The plunge in Gulf stock markets, which were overvalued and dominated by panicking retail investors, made bond issuers stay out of the primary market.
The project has a net power capacity of 200 MW and is the largest utility scale solar plant in the world to be tendered in a single phase
A consortium of Saudi Arabia’s ACWA Power and Spain’s TSK had been selected as the preferred bidder to build the 200MW solar power plant.
Emaar sold a 15.4 per cent stake in its retailing unit in an initial public offer in September, raising $1.6 billion.
The developer will launch for lease 1.5 million sqft of shopping, dining and entertainment space at the mall from January 18.
Emaar said the pricing on the loan had fallen by 1.5 per cent.
The company said that work on the steel structure, in which the animation zone is located, has started.
The sukuk will be launched and priced later on Wednesday, the arrangers said.
Developed by Emaar Hospitality and Meraas, the brand targets young tech-savvy travellers.
Dubai World said that it had received backing from a “substantial majority” of creditors on the new deal which would see part of its debt repaid early.
Real estate deal values have declined from 2013, according to the Dubai Land Department.
The company will deploy the facility to further penetrate the SME growth finance market in the UAE and Saudi Arabia, it said.
The company has purchased plots in Dubai’s Umm Suqeim area and Riyadh’s King Fahed Road to develop its latest projects.
The new company, created through the joint venture, will operate under the Engel & Völkers brand, the developer said.