Although the Burj Dubai is now “finished,” we still have not seen an influx of tenants or investors, but this rather entertaining video of the windows being cleaned makes up wonder what is going on. Surely this is not a practical solution. Or is it? With labor being cheap and readily available. Not a job we would fancy though. Scary…..
The Burj Dubai reached it’s final height of 818 meters recently, but we are hearing an interesting rumor that, the Burj Dubai is now wholly owned by the Abu Dhabi government (see the recent Dubai bond issue) and as “punishment,” for their vaulted ambitions, the building will be left empty for at least one year after it is finished being fitted out.
More on Property Investment Rumors – Burj Dubai Will sit Empty for a Year
Dubai/UAE
Prices for residential property in Dubai are expected to fall another 50% in 2009, according to Landmark, although they have faith that the high end of the market will drop a little less in value. Download report.
With property values tanking in Dubai, Nakheel have now gone to the trouble of suggesting that David and Victoria Beckham “have shown interest in increasing their property portfolio in the UAE.”
Not content with their own world record for the highest tower, Dubai developers Nakheel on Sunday announced plans to build a tower which could stand one kilometer high (3,280 feet)
Sultan Ahmed bin Sulaim, president of Dubai World, a wholly owned subsidiary of the Dubai government, said the project would be “one of a kind.”
More on Kilometer High Tower Planned in Dubai – “It won’t fall over” says CEO
Burj Dubai, the tower being developed by Emaar Properties PJSC, has reached a new record height of 688 meters. The tower became the world’s tallest after surpassing North Dakota, USA’s KVLY-TV mast (628.8 metres; 2,063 ft) in April 2008. With over 160 floors, the tower also has the largest number of storeys in any building.
When completed, Burj Dubai will meet all four criteria listed by the Council on Tall Buildings and Urban Habitat (CTBUH), which classifies the world’s tallest structures. CTBUH measures the height of buildings to the structural top, the highest occupied floor, the top of the roof and the tip of the spire, pinnacle, antenna, mast or flag pole.
The Master Developers in Dubai have removed the clause that guarantees a residence visa for property buyers from contracts they enter into with sub-developers
“There was a clause in our previous contracts that assured us that master developers will guarantee residence visa. The clause has now been removed,” a developer. Emaar Properties, the master developer of Burj Dubai and Dubai Marina, has sent a notice to sub-developers to hold processing of residency visas until further notice.
