The world's tallest tower, Burj Khalifa has finally opened its doors following five long years of construction. And, despite the last-minute name change, the presence of the world's tallest tower will deliver direct economic benefits to the emirate of Dubai. Emaar's flagship project is significant in many ways. It delivers another iconic structure to Dubai's skyline, complementing the Burj al-Arab in international recognition and plays an arguably even greater role as the anchor project to Emaar's wider Dhs73bn ($20bn) Downtown Burj Dubai scheme.
"RTA will deploy 63 buses to shuttle from the parking lots of Meydan Racecourse, Dubai World Trade Centre, General Directorate of Residency and Foreigners Affairs, and Zabeel Park, through a dedicated express lane leading to the venue. Also, 4,000 taxicabs will be deployed to work round-the-clock. These are expected to make more than 30,000 trips to and from the Burj Khalifa," Al Tayer said.
The 2010 outlook excludes the impact of a claim relating to Burj Khalifa, the world's tallest tower in Dubai, the statement said. The company had made a net loss 103.6 million dirhams in the first half of the year due to the Burj Khalifa claim, it said in August. The firm said it is positioned for about 20 percent growth in 2011 and 2012. It is also expanding into new territories like Yemen, Angola and Abu Dhabi.
Nearly 40 investors have registered to take part in an auction to buy an entire corporate floor in the Burj Khalifa, the world’s tallest tower, the online auctioneers have told Arabian Business. US-based LFC Group of Companies, which is handling the sale via the Freedom Realty Exchange, said it expects to see a spike in registrations in the weeks leading up to the auction.
His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, has issued Regulation No. 2 of 2012 to add some land to areas where non-UAE nationals may own real estate properties in the emirate of Dubai.
Emaar Properties PJSC, the global property developer of iconic projects, reported a net operating profit of Dhs1.249bn ($340m) in the first nine months (January to September) of 2011. Revenue for the first nine months this year reached Dhs5.873bn ($1.599bn).
We covered the grand opening ceremony of Dubai’s Burj Khalifa Tower, formerly called Burj Dubai. But amidst all the fireworks and fanfare, does this 818 meter high monument to human engineering achievement represent any innovations towards combating global warming, climate change, or other environmental breakthough – or is it simplyanother “Tower of Babel,” constructed by misguided human beings still trying to build us a city and a tower with its top in heaven?