Dubai.– Despite the worst recession in modern history, the world’s tallest
tower, Burj Dubai, continues to retain its reputation as one of the
most expensive addresses in Dubai, according to Middle East property
experts.
Apartment prices in the tower are stabilizing, experts say, with a
two-bedroom apartment on the 57th floor available for one million
pounds, Sky News reports. In contrast, the market is showing less signs of recovery elsewhere in the Emirate.
“As the world has had its
financial problems, some countries have gone into recession. But this is
one area where a lot of the development dreams have actually been
realized,” the report quoted Andrew Chambers, MD of Asteco, a UAE-based
property consultancy, as saying.
“What we are finding is that, while prices have been dropping
everywhere across the Middle East, Downtown Burj Dubai is one area
where they are still consistently higher than they are in a lot of
other areas,” he added.
In what has been dubbed “the Burj effect”, the neighbouring property
in the Downtown Burj Dubai district is also benefiting from being close
to the record-breaking skyscraper.
“The Burj effect is that people are living here, they can commute
around here, they see the metro about to open here, and so they have
got restaurants, they have got the hotels, they have got all the
facilities that they have always been promised. “I think this has given hope to other areas. It will help this city
and I think the Emirates all over”, Chambers was quoted in the report,
as saying.
Written by: NYCDR, 27 Aug 2009 7:18 AM
From: United States
This building looks horrible.
Written by: telemeco, 27 Aug 2009 7:22 AM
From: United States, Paterson, New Jersey
Torre de Babel, the arabs are building the Babel building again, didnt they learn anything the first time they try to build it!
Written by: NYCDR, 27 Aug 2009 7:55 AM
From: United States
Telemeco,
thanks for that..that is funny
Written by: juanb, 27 Aug 2009 9:07 AM
From: Dominican Republic
Second picture reminds me of the end of Planet of the Apes.
Written by: josean, 27 Aug 2009 9:56 AM
From: United States
What’s the old saying, "There’s a sucker born every minute!"
From: United States
Telemeco, the original builders weren't Arabs
From: United States, Fresh Water Paradise-NY Finger Lakes
SpinDoc,
I am with you on this one.
While beauty is clearly in eyes of beholder, I wouldn't call this an ugly building.
"Twin Towers" at World Trade Center were ugly......The Chrysler Building may be most beautiful structure of all sky scrapers-if it could be considered such.
Written by: wents22, 28 Aug 2009 12:17 AM
From: United States, New York City
So far, the Burj Dubai is looking really interesting. I wouldn't call it ugly either, but i think the Petronas Twin towers is the most beautiful. It looks a little like the The Chrysler Building in my opinion.
Written by: oupala07, 28 Aug 2009 11:21 AM
From: Canada
They plan to build even a taller one
Written by: oupala07, 28 Aug 2009 11:21 AM
From: Canada
You can't be affected by recession when you're sitting on one of the largest natural gas pool in the world, and your country is just a little bit larger than the whole island of Haiti. Furthermore, the United Arabs Emirates population is only 4.3 millions souls with 3 millions of them immigrants from other countries (it is a reminder for the hatemongers who are accusing haitians of invading their country, what would they say if they were confronted with the same immigration problem as the Emiratis?)
So, wealth is not a question of how much land area your country is fitted with, and how much population lives on it, it is rather a question of good and sound management of public resources, and the Emiratis have done, so far, a much more better job than most of the countries in the whole world.
Written by: oupala07, 28 Aug 2009 11:22 AM
From: Canada
Dubai, its tallest building in the world and its palm trees and world globe shaped island, will stay recession proof as long as they keep doing what we, in the third world, refuse to do, and it is to be the wise keepers of our people well being. While we keep spending our grand kids inheritance, countries like China, Russia, Brazil, Argentina, the United Arabs Emirates will continue to grow because they either can resist the IMF and World Bank pressure loans for some, and for others, they are sitting on a huge pile of foreign cash reserves. You can't get into financial trouble when you watch for your interests and not for others'.
Written by: oupala07, 30 Aug 2009 8:34 PM
From: Canada
elmariachi,
"Dubai, its tallest building in the world and its palm trees and world globe shaped island, will stay recession proof as long as they keep doing what we, in the third world, refuse to do, and it is to be the wise keepers of our people well being."
Thanks for the update, They really have not abode by what is said above, but they're are in the whole now, however, the federation is still rich and it has no interest in seeing one of their owns get bankrupt. They will bail it out but they will carve its assets shamelessly, you know the Arabs : they are worst than hyena in business, fierce and unforgiving.
Written by: Vivacuba, 31 Aug 2009 7:28 AM
From: Dominican Republic
Although it appears to be recession proof, can it withstand the sword of the New World Order?
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thanks for that..that is funny
http://www.glasssteelandstone.com/BuildingDetail/701.php
I am with you on this one.
While beauty is clearly in eyes of beholder, I wouldn't call this an ugly building.
"Twin Towers" at World Trade Center were ugly......The Chrysler Building may be most beautiful structure of all sky scrapers-if it could be considered such.
So, wealth is not a question of how much land area your country is fitted with, and how much population lives on it, it is rather a question of good and sound management of public resources, and the Emiratis have done, so far, a much more better job than most of the countries in the whole world.
http://online.wsj.com/article/SB123532630416442781.html
"Dubai, its tallest building in the world and its palm trees and world globe shaped island, will stay recession proof as long as they keep doing what we, in the third world, refuse to do, and it is to be the wise keepers of our people well being."
Thanks for the update, They really have not abode by what is said above, but they're are in the whole now, however, the federation is still rich and it has no interest in seeing one of their owns get bankrupt. They will bail it out but they will carve its assets shamelessly, you know the Arabs : they are worst than hyena in business, fierce and unforgiving.