Emaar sells Hamptons Units for $116m, incurs loss

Emaar Properties, the developer of the world’s tallest tower in Dubai, incurred a loss of 38.5 million dirhams ($10 million) from the sale of Hamptons Group Ltd.’s operations in Europe, UK and Asia to Countrywide. The property sold is building Number 5 in the Emaar Square project near Burj Khalifa, the world’s tallest tower, and houses the local offices of HSBC Holdings Plc, The National newspaper reported today, citing people it didn’t identify.

BlackBerry cancels UAE launch party for new smartphone

Organisers said on Tuesday that an exclusive preview of the new BlackBerry Pearl 9105 smartphone device in Dubai has been cancelled. Arabian Business can reveal that the preview party, which was due to be held at Prive at the Armani Hotel on Wednesday evening, has been postponed until a later date. The decision follows an announcement on Sunday by the UAE that it will ban certain BlackBerry services in the country from October 11.

Engineering discipline

Right at the start of 2010, with much fanfare and fireworks, the world's tallest man-made structure was officially opened. The Burj Khalifa was one of the most anticipated, watched and reported on construction projects of all time and its opening is also ranked as the best moment so far, in the tenure of Hyder Consulting's regional managing director Wael Allan.

Dubai’s realty check

Given that he’s talking from a stylish ballroom in the first ever Armani Hotel, within the Burj Khalifa — the tallest and one of the most talked about buildings in the world — it’s hard to argue.

Dubai beach hotel rates twice those of city locations

It added that the total hotel supply increased to around 46,000 rooms as of Q2 2010, up eight percent since the end of 2009, following the completion of projects including the Armani Hotel and the Sofitel and Movenpick hotel on Jumeirah Beach.

More to come

MBR technology is benefiting from the increasing reuse of wastewater in the region. But for MBR to supercede the conventional activated sludge process, membrane costs will have to come down, and the full potential of the technology needs to be realised.

Sustainable by design

When the Burj Khalifa opened with a dazzling fireworks display earlier this year, the tower was hailed as a marvel of modern engineering, which it certainly is. However, it is also an excellent example of sustainability at work.

The dream builder

In less than six months, Mohammed Alabbar has delivered two of the world's most eagerly awaited projects. How did he do it? The iconic Burj Khalifa tower opened in January, and four months later came the first ever Armani Hotel, built within the tower.

Burj Khalifa unit reselling seen up 30% in 2010

Liz O'Connor, director of residential sales and leasing at Better Homes said that she has seen some distressed sales entering the market, especially as the final payments on properties becomes due. “There are some distress sales in the market… We have seen secondary Burj Khalifa properties coming on line; for many owners the final installment is due to be paid shortly which is promoting some to sell,” said O’Connor.

VIDEO EXCLUSIVE: Inside Burj Khalifa apartments

The first residents have moved into the Armani Residences inside Burj Khalifa, the world's tallest building. Emaar Properties, the developer of the mixed-use tower, has handed over homes to buyers of the designer apartments and one of the new residents, Sarah Belhasa, has shown Arabian Business TV around her home.

Stay connected

17,137FansLike
66,921FollowersFollow
13,900SubscribersSubscribe

Latest article

Burj Khalifa opens highest lounge in world to public

Burj Khalifa opens highest lounge in world to public

The Lounge - Burj Khalifa Dubai

Samsung takes over Dubai’s Burj Khalifa to promote Galaxy S9

The company became the first tech brand to be represented on the building in an LED display. There was also a chance for consumers to...