BUSINESS & JOBS

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.

Sitting in the majlis — formal Arab meeting room — of his hotel in the 2,700ft tall Burj Khalifa in downtown Dubai, Armani praised the “strong nerves” of Mohammed Alabbar, the boss of Emaar, the developer.

Seventy-one sales transactions were recorded in Burj Khalifa , the world's tallest tower in 2012, with two transactions topping Dh45 million, according to information provided by Reidin.com to Emirates 24|7. The two biggest transactions registered with the Dubai Land Department ( DLD ) were of Dh45.42 million and Dh45.07 million with price per square foot of Dh4,000 and Dh3,969, respectively.

In January, for example, Emaar flipped the switch at the gala opening of Burj Khalifa to reveal the final height at 828 metres, making it the highest freestanding structure in the world as recognised by the Guinness Book of World Records. In June, Abu Dhabi's new Capital Gate Tower was also recognized by Guinness as the world's furthest-leaning tower with an 18-degree slant compared to the Leaning Tower of Pisa at four degrees.

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.

Western media have taken aim at this country because of its achievements. The UAE's phenomenal success, which was epitomised by the opening of the Burj Khalifa in Dubai earlier this month stands as testimony to the ability of Arab people to challenge the impossible.

Projects from the UAE bagged five awards. Burj Khalifa was the undisputed winner in the Building Project of the Year category. The ceremony, held March 22 at the Ritz-Carlton in Dubai, was attended by officials and representatives from leading private sector enterprises in the region.

The Saif Belhasa Group has pared back its retail expansion plans and postponed its initial public offering (IPO) due to economic uncertainty, said its chairman. The group expanded into food retail in part to cash in on the Dubai Mall, one of the largest shopping centres in the world, at the foot of the Burj Khalifa,Mr Belhasa said.

Real estate transactions worth over Dh218 billion were recorded in Dubai in 2014, according to an annual report issued by the Dubai Land Department (DLD).

EMKE group founder Yusuffali M. A. won the coveted “lifetime achievement Award” at the inaugural Indian CEO Awards held at Dubai’s Armani Hotel. The retail giant was one of 16 leaders honored in the first-ever event to recognize the achievements on Indian business leaders.