BUSINESS & JOBS

Rents in Burj Khalifa, the tallest tower in the world, have fallen by almost 25 per cent in the first half of 2011 compared to last year, as unit owners prefer to rent rather than sell at lower prices. Service charge for residential units were hiked by over four per cent for the year and now stand at Dh55 per sq ft compared to Dh52.77 per sq ft last year.

If there were an award for the strangest place I've met an interview subject, then Michael Kaplan would win it hands down. I was swimming in the sea in Aruba when I was introduced to the costume designer, who was on the Caribbean island to make an appearance at the Aruba International Film Festival.

Depa, the Dubai interior contractor that fitted out the Burj Khalifa, is the latest company in the construction sector to warn that turmoil in the Middle East is driving down revenue. The delay of several large contracts in the region will "dampen full-year market expectations", it said yesterday.

Incoming coach Ivan Hasek has reiterated that hard work and team spirit will be the two elements that will determine his second reign with five-time champions Al Ahli. "My aim is to ensure this aspect creeps in first, whether it is the stars in the team or the substitutes or the foreign players…all need to have this one single goal," the 47-year-old Hasek added.

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.

Apartment sellers in the Armani Residences have listed a number of two bed room units for AED30m ($8.1m) each. Several units were put on sale in the past week, and the prices equate to AED13,500 ($3675) per square foot – nearly 20% higher than during the peak of the property boom in Dubai.

Sarah Jackson's paintings are recognisably based in Dubai — but this isn't just because some of the works depict iconic buildings. Many images, paintings and artworks show the famous architectural side of the emirate, by including representations of landmarks such as the Burj Khalifa, Burj Al Arab or Emirates Towers, amongst others.

Doha now boasts architectural designs rivalling that of its flamboyant neighbour, such as the al-Bidda Tower — a 215-meter-high (705 feet) twisting commercial building. Like Dubai, it is becoming an architect’s playground, thanks to clients with deep pockets and bold ambitions who helped build grand edifices in Dubai such as Burj Khalifa, the world’s tallest building.

"The tallest building in the world is now in Dubai, the biggest factory in the world is in China, the largest oil refinery is in India, the largest investment fund in the world is in Abu Dhabi, the largest Ferris wheel in the world is in Singapore," notes Fareed Zakaria.

And the Burj Khalifa, at 828m high the tallest structure in the world, looks like nothing more than a giant silver rocket ship poised to head into space. As a matter of a fact, when you go up 124 storeys to the observation deck at 10 metres a second in the tallest and fastest lift in the world, it does feel as though you're going in a rocket ship.