Dubai developer Emaar Properties is drawing up a plan to deal with its toxic assets, the firm’s chief operating officer said in remarks published on Thursday.

'We have identified our toxic assets, categorised them and we are taking decisions on some of those assets,' Naaman Atallah said, according to daily newspaper Emirates Business.

Emaar officials were not immediately available for comment.

Property prices in Dubai — the source of the bulk of Emaar’s revenues — have slumped since the global financial crisis brought to an end a regional economic boom late last year.

The National