i think burj dubai is now sold to Abu dhabi...
In October, Nakheel, the developer of the Palm Islands, announced a new project named "Nakheel Harbor & Tower." The project, which will cover an area of more than 270 hectares and accommodate over 55,000 people, will include a tower more than 1,000 meters high. If completed, the Nakheel Tower will take Burj Dubai's title of the world's highest building, whose current height stands at 688 meters.
According to Nakheel, the Nakheel Harbor & Tower will take more than 10 years to complete. Now, with the credit squeeze and a possible bear market for the property sector, the project's fate seems uncertain.
Emaar Properties, the developer of Burj Dubai and the largest property firm in the Gulf region by market value, said in the same month that it was reviewing its recruitment policy, sending out a signal to cut jobs to weather the current financial turmoil.
http://news.xinhuanet.com/english/2008-12/02/content_10445926.htm
Price fluctuations in the Burj Dubai tower had been far more volatile because of the high percentage of speculators owning the properties, brokers said. Some had since been sold at significant losses to generate cash, they added. The most expensive floors, such as those branded by Armani, sold at about Dh14,000 per sq ft and were holding much of their value.
94th floor Burj Dubai sold for $12 million
Having reached 158 floors and still growing, the world’s tallest skyscraper, Burj Dubai has sold 11000 sq ft of office space on the 94th floor to a European buyer for a whopping 12 million dollars in an online deal.
Eqarat.com, the Dubai-based real estate sales agent, today said it has sold the ”highest office floor in the world” to a European investor.
”Purchasing property in Dubai has become a simplified process; however intense competition among property developers and high profile investors who are always on the lookout for the most profitable developments in this rapidly developing emirate, has presented customers with difficulties in acquiring their ideal properties,” claimed Ali Al Rahma, CEO of the online portal, according the Gulf News.
Eqarat.com did not reveal the investor, but described the deal as a “successful acquisition of the most coveted commercial real-estate property within the globally renowned landmark”. Burj Dubai is the centrepiece project in Emaar’s 500-acre Downtown Burj Dubai development.
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