Emaar Properties has announced it will roll over its US $1.32 billion (AED4.84 billion) debts into long-term project funding as fears recede of a repeat of the bail-out needed for stricken developer Nakheel. On Sunday it announced that Burj Khalifa is to tap solar power for residential water heating, using technology installed and operated by SOLE UAE Solar Systems.
The highlight of second quarter 2010 was the opening of the world's first Armani Hotel in Burj Khalifa, the world's tallest building. In addition, the handover of units in Burj Khalifa started during the quarter with approximately 24% handed over until June end. In the process of implementing the strategy of concentrating on its core business, Emaar transferred the Hamptons International business in the UK, Europe and Asia to Countrywide at a consideration, which was similar to the purchase value of the business (in Sterling terms) it acquired in 2006.
Construction companies that aggressively moved to diversify into other countries during the downturn in Dubai property have seen their shares sold heavily due to the political turmoil in the Mena region. Egypt has become a key market for several UAE builders. Emaar, best known for constructing the Burj Khalifa - the world's tallest building - in Dubai, now has projects valued at Dh4.2 billion (US$1.14bn) in Egypt, about 15 per cent of its book value.
Greek composer and pianist Yanni, acclaimed for his instrumental music, will perform in front of the iconic Burj Khalifa on October 28, organisers have announced. Yanni's Dubai performance follows a concert in Muscat, Oman, at the Sultan Qaboos University Cultural Centre Grand Hall.
Dubai: British photographer Stu Williamson is "proud" to have won a competition with a shot of Dubai's Burj Khalifa, and to have seen the iconic building being constructed. "It's an iconic building for the world, not only the UAE," he told Gulf News from his Jumeirah Beach Road studio. "Dubai has got some fabulous buildings. We're spoilt for choice, really."
This is 408 feet taller than the twin towers, which were destroyed on the September 11th, terrorist attacks on this country. Even though One World Trade might be making headlines today, there is still only one king of the skyscrapers and that is the Burj Khalifa, the tallest building in the world, in Dubai, United Arab Emirates.
They are the neighbouring gulf states battling it out for economic supremacy. And in the latest grand example of keeping up with the Joneses,Saudi Arabia has awarded a contract to build the world's tallest skyscraper, shattering the current record held by a building in Dubai.
Rents in Burj Khalifa, the tallest tower in the world, have fallen by almost 25 per cent in the first half of 2011 compared to last year, as unit owners prefer to rent rather than sell at lower prices. Service charge for residential units were hiked by over four per cent for the year and now stand at Dh55 per sq ft compared to Dh52.77 per sq ft last year.
The innermost secrets of the city’s most famous landmarks are to be laid bare in a new television series. State-of-the-art computer-animation techniques peel away the surface layers of buildings such as the Burj Khalifa and Burj Al Arab and delve deep to reveal the technological marvels inside.