Press

The emirate is famed for a number of things such as the Burj Khalifa, which is the world’s tallest building, and the ‘The World’ which is a manmade archipelago with each mini island a potential home for the super-rich. Many people travel to Dubai for holidays, but there is probably just as much, if not more, coming to do business.

In Dubai, there are several high-end, luxury hotels that have forgone the Cristal to comply with Shariah. The towering buildings, nestled among tall palm trees, have all the signs of Arab luxury — the aroma of rich Arabic coffee mixed with the pungent scent of dates, lush interiors and white marble floors.

Top-end hotels like JW Marriot, Hyatt Regency, Park Regis Kin, Al Bustan Rotana, Kempinski Mall of Emirates, Crowne Plaza Hotel, Grand Millennium and Samaya are offering exclusive DSF three-night packages for Dh2,479 per person (on twin sharing basis) and Dh4,037 per person (on single occupancy).

Even though lease rate for units in the world's tallest tower, Burj Khalifa, are not yet established, analysts believe the expected rental rates for commercial spaces in the tower will handsomely beat the ongoing rates in other established high-rise buildings of the world, such as the Petronas Towers in Kuala Lumpur and the Sears Tower (now Willis Tower) in Chicago, United States.

But the place with the highest concentration of skyscraper hotels is Dubai. The first, in the Burj Khalifa tower, is fashion designer Georgio Armani's first hotel.

The tower, built by Japan’s Tobu Railway Company, stands 634 metres (2,080ft) tall, making it the world’s second tallest building after the Burj Khalifa in Dubai, which stands at 829 metres (2720 ft). Tokyo Skytree is now the world’s tallest free-standing broadcast tower ahead of the Canton Tower in China which scales 600 metres (1,968 ft).

LG Electronics (LG), a global technology innovator in consumer electronics, has launched its 72-inch full LED 3D TV, the world’s largest at 59 inches wide and 40 inches tall. The launch of the LZ9700 took place at The Address Downtown Hotel in Dubai. With full HD resolution on an LED display, the LZ9700 delivers pictures as large and colourful as paintings at an art gallery, a statement said.

Fashion designer Giorgio Armani launched Armani Hotel Dubai at Burj Khalifa yesterday. Last night he flung open the doors of his new gaff to celebrate.

The rates for the world’s tallest tower Burj Khalifa in Dubai is testimony enough to the correction the Middle East market has witnessed. According to sources, what sold at more than $3,000 per sq ft during the peak period is today at around $900-1,000 per sq ft.

Mr Mohannad Sweid, CEO of Depa, commented: “Overall performance was strong on many fronts. Our successful diversification strategy reduced the impact of the global macroeconomic and regional geo-political environment on our results and backlog growth.