BUSINESS & JOBS

A last-minute decision to change the name of the skyscraper from Burj Dubai to Burj Khalifa reflected a political shift within the United Arab Emirates. Dubai’s tower now carries the name of Sheik Khalifa bin Zayed al-Nahyan, the ruler of neighboring Abu Dhabi and the president of the emirates, who reluctantly rode to Dubai’s rescue last month with a $10 billion bailout.

"Since the turn of the year and the opening of the Burj Khalifa, we have started to see people want to come back and talk to the bank about making investments outside the cash deposit," said Gary Dugan, chief investment officer, Private Banking, at Emirates NBD. "It's hundreds of millions of dollars being put on the table. It's real money that is coming back in."

Jesse Downs, director of research and advisory services at Landmark Advisory says, "Lower-limit rents for high-end units in Downtown Burj have increased by 13 per cent." Meanwhile Landmark's latest report found that prices for one- and two-bedroom units in the Downtown Burj area increased by about 5 per cent (lower limit) between July and December.

The Burj Khalifa has a towering fascination with the number 8. Not only does it rise 828 metres high, but it was also officially inaugurated at 8pm on Jan 4, 2010. When the date is viewed as 01/04/2010, the digits add up to 8. Even the original sales prices ended with 888.

High-flying businessmen will be able to host their board meetings on the uppermost floors of the Burj Khalifa when the commercial space opens this year. Emaar Properties has reserved 10 per cent of the space in the tower for its own use, including three floors at the top that it will rent out for events and meetings, the chairman Mohamed Alabbar said last week.

An Australian company has been awarded the contract to clean every window on the world’s tallest building Dubai’s Burj Khalifa.

There was still no mention of the Burj Khalifa moniker in the vicinity of the tower two days after its historic opening. Emaar Properties, which spent US$1.5 billion (Dh5.51bn) on the structure, had yet to make a statement on the name change or its implications, nor had the Roads and Transport Authority announced whether the Burj Dubai Metro station would have its name changed.

Burj Dubai, the world's tallest building by Emaar Properties, will receive its first residents as early as February 2010. They will be the first of over 12,000 people who will live and work in the mixed-use tower comprising luxurious apartments, prime office space and the world's first Armani Hotel, amongst other modern lifestyle amenities.

DUBAI – The Middle East’s largest listed developer Emaar Properties said on Thursday that it will realise revenues from the sale of properties at the world’s tallest tower, Burj Khalifa, formerly called Burj Dubai, in the financial year of 2010.