The builder of Burj Khalifa, the world's tallest tower, may write down the entire value of its Dh172.4 million investment in Dubai Bank as soon as the second quarter, the investment bank EFG-Hermes told investors in a note yesterday. The Dubai Government has taken control of the lender and says it will inject capital "to ensure that Dubai Bank's business continues uninterrupted".
Mr Mohannad Sweid, CEO of Depa, commented: “Overall performance was strong on many fronts. Our successful diversification strategy reduced the impact of the global macroeconomic and regional geo-political environment on our results and backlog growth.
Dubai's crown prince inaugurated the first international branch of the Manhattan institution, famous for its "big brown bag" totes, in the Middle East's biggest shopping mall Sunday. Bloomie's Dubai outpost includes a 13,600 square metre clothing and accessories store and a nearby 5,000 square metre home furnishings store. Both stores are in the Dubai Mall, next to the world's tallest tower, Burj Khalifa.
Eager crowds may catch their final glimpses of Tom Cruise this week as filming outside the Burj Khalifa for Mission: Impossible Ghost Protocol wraps up. The Hollywood star has been dangling off the world's tallest tower this week, reprising his role as Ethan Hunt in the fourth instalment of the spy thrillers. On Saturday, he dropped down to the observation tower on the 124th floor to the shock - and delight - of tourists inside.
Emaar Properties said Tuesday it earned 250 million dirhams ($68.1 million) from April through June, compared with the 802 million dirhams booked in the same period a year earlier. This year’s figure includes a 172 million dirham charge to cover Emaar’s 30 percent stake in Dubai Bank.
Crystal supports international artist, Jaume Plensa in creating spectacular artwork for Burj Khalifa Tower...
International water feature specialist Crystal is delighted to have supported major contemporary artist Jaume Plensa, on the 'World Voices' sculpture at the Burj Khalifa Tower in Dubai, U.A.E. Commissioned by EMAAR Properties. The art installation has the pride of place in the Burj Khalifa's dramatic residential entrance lobby in the iconic tower - now the world's tallest building.
Many press people from around the world wanted to know our opinions and insights on all sorts of questions, such as what the launch of Burj Khalifa symbolises in terms of advancements, what the main factors are that differentiate Burj Khalifa from other tall buildings, what does the launch of Burj Khalifa mean for Dubai, and what is the most impressive aspect of the building?
Everyone who is not going anywhere else this New Year's Eve knows that the Burj Khalifa fireworks are not to be missed. Every resident has, by now, come up with...
His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, on Sunday praised the level of preparations and the persistent efforts of the Higher Committee to Host the World Expo 2020 and expressed confidence in their ability to make this national quest a reality.