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Emaar may refinance some of its debt

Investment bank Rasmala has said Emaar Properties may refinance some of its debt in the near term, with repayments worth Dhs6.7bn ($1.8bn) coming up between the second half of 2011 and next year, Reuters has reported. Emaar will generate Dhs7.7bn cash from its operations during the period but will have a cash requirement of about Dhs12.2bn, but is expected to incur a capital expenditure of Dhs2.6bn on its projects and operating expenses of Dhs2.9bn for the same period, the bank said.