BUSINESS & JOBS

Crowds of tourists visiting the Burj Khalifa have boosted retail sales near the world’s tallest tower by as much as 30 per cent. Since the 828-metre-tall building opened its observation deck to visitors on January 4, the bustling activity has trickled down to the tills in neighbouring Dubai Mall and Souk Al Bahar, retailers say.

Samsung unveiled to the region its Galaxy S6 and Galaxy S6 edge last night, as it attempts to beat back the onslaught from the Apple iPhone 6 and 6 Plus.

Between October 2020 and April 2021, more than 25 million visitors are expected to attend Expo 2020 in Dubai, 70 per cent of which will be from outside the UAE, which is the largest number of international visitors in the event’s history.

Mark Coady from Australia agrees. "Business Bay is 10 minutes to virtually all the places that one needs." Apart from the traffic on Sheikh Zayed Road, he says, the area is quiet. "All the buildings are big and new. The views of the Burj Khalifia are pretty great. There are not too many buildings blocking the views and there are plenty of wide-open spaces." The Burj Khalifa and The Dubai Mall are a 20-minute walk away. Al Manzil Hotel in Old Town houses the Hayya Gym, which allows non-members to attend classes.

Shares in the UK engineering consultant, which worked on the Burj Khalifa tower in Dubai, rose 6pc on Wednesday after it said a pick-up in the Middle East meant profits in the year to March 31, 2011, should beat expectations.

Dubai World's total debt, including liabilities, is around 60 billion dollars. Dubai's total debt is estimated at between 80 and 100 billion dollars, although some analysts say it could be as high as 170 billion.

After opening a prestigious new office at Emaar Square in Dubai, AES International intends to roll out the company's no-nonsense brand of tax-efficient financial advice rolled up with market leading technological innovation, robust compliance and outstanding customer service.

Dubai property owners are caught in the twin-grip of declining rentals and unsustainably high service fees being charged by developers, pushing their return on real estate investment further down. Maintenance fees at some locations, including for Downtown Dubai and the Burj Khalifa tower in particular, are as high as 45 per cent of the annual rentals, further adding to the woes of investors who have seen valuations of some of their properties decline by almost 50 per cent over the past couple of years.

Cluttons, property consultants and estate agents, estimates there are about 2,000 owners’ associations in Dubai with Burj Khalifa having seven. The Real Estate Regulatory Agency (Rera) has set an October deadline to complete all documentation process and register owners’ associations.

In reputation and marketability, Adrian Smith is Chicago's tallest architect. At age 65, Smith has reached a stature where he has nothing left to prove and little to fear. Yet, he's afraid that part of his legacy is being lost.