Investors in Dubai are demanding for dividends since 2008 and on attaining approval of cash dividends Emaar touches its six weeks high.

Emaar climbed 4.4%, trading 2.5% higher at 3.26 dirhams as of 11:32 a. m. in Dubai. Yesterday, investors approved a cash dividend of 10% for year 2010, for a total of about 600 million dirhams ($163 million).

Emaar Malls Group, the shopping mall and retail subsidiary of Emaar Properties has made special arrangements for the 15th edition of Dubai Shopping Festival 2010 which began on January 30, 2010 and last up to February 28.

The announcement of the launch date for world's tallest tower has finally been made, following the completion of its last cladding panel.

The world's tallest building, the Burj Dubai, is due to open on 2 December. The new opening date of the building had been kept untold until now, after it appeared that the Emaar project, which topped out at 818m earlier this year, would miss its original opening date in September.

According to Arabrianbusiness. com, the Armani, which is a hotel in the building, will open on the same day.

It has appeared that a sum of about $350 million was lost by the Middle East's biggest listed property developer, Emaar Properties, in the second quarter, mainly because it thinks its $1 billion bet on the U. S. housing market is now worthless.

A loss of 1.29 billion dirhams, or $351.5 million was posted Thursday by Emaar Properties, from April through June, which was dramatically lower than a profit of 2.12 billion dirhams ($577.7 million) a year earlier.