Emaar Properties, the builder of the world’s tallest skyscraper, rose to a five-year high as investors bet Dubai-based developers will benefit from economic growth in the emirate.
The real estate market in Dubai may be still be in bumpy territory, but for the super-rich, the recession probably regarded as an unfortunate event that happened to someone else. Earlier this month, Arabian Business revealed that apartment sellers in the Burj Khalifa Armani Residences have listed a number of two-bedroom units with asking prices of AED30m ($8.1m) each.
At the base of the Burj Khalifa lie four new outdoor event venues. In this exclusive photo special, DPME.com takes you on a tour of the Burj Steps, Burj Park, Burj Plaza and Emaar Boulevard. Dubai ruler Sheikh Mohammed Bin Rashid Al Maktoum recently made the bold, but not surprising, statement that Dubai is back. According to him, the city is clawing its way out of the depths of economic troubles and is experiencing a surge in morale and financial stability.
A new gallery that will showcase the best in Arab contemporary talent is planning to open its doors in Downtown Dubai during April. The 3,000 square foot Ara Gallery, located near the base of the Burj Khalifa, has also earmarked community engagement as a key pillar of its strategy.
Cranes are set to start sprouting up in the shadows of Burj Khalifa as Damac, Emaar and other developers rush ahead with a spate of property marketing launches. Yesterday Emaar announced it would start online registration for the 120 flats in its 20-storey Burj Vista II tower on Mohammed bin Rashid Boulevard, close to the world's tallest tower.
Located in Downtown Dubai opposite Burj Khalifa, the world’s tallest building, The Pavilion was formerly the sales office of Emaar Properties. Emaar together with the multidivisional group Cultural Engineering joined forces to renovate the building and convert it to form a culturally based programme for the community. The Pavilion supports a dialogue between art and its audience further enhancing the cultural landscape of the city, creating a place for families, enthusiasts, patrons and visitors.
A dusty industrial zone in flashy Dubai has become an unlikely home for a flourishing underground art scene that has grown even as the emirate's fortunes declined, curbing appetites for extravagant pieces. Al Quoz, home to stark warehouses and a huge cement factory in the shadow of the world's tallest building, the Burj Khalifa, is a far cry from the glitz and glamour that has come to be associated with Dubai.
The number of completed buildings in Dubai during 2009 topped the 2,500-mark, according to Dubai Municipality data released by the Dubai Statistics Centre (DSC). These numbers are set to grow this year, with Burj Khalifa delivered in January 2010. The value of these completed buildings, according to DSC statistics, was Dh24.89 billion.
While thousands braved traffic and crowds to catch a glimpse of the opening ceremony of the Burj Khalifa, the tallest building in the world, Karim Al Bassatne simply walked to the balcony of his three-and-a-half-bedroom apartment in Burj Residences to witness history in the making. He even invited some friends over, giving them all a moment to remember for the rest of their lives.