BUSINESS & JOBS

Projects from the UAE bagged five awards. Burj Khalifa was the undisputed winner in the Building Project of the Year category. The ceremony, held March 22 at the Ritz-Carlton in Dubai, was attended by officials and representatives from leading private sector enterprises in the region.

Burj Khalifa was the undisputed winner in the ‘Building Project of the Year’ category sponsored by Technal Middle East, while the ‘Transport Project of the Year’ sponsored by Cadillac was picked up Dubai Metro Red Line.

A few of these fascinating projects include Palm Jumeirah Property, The meadows, The World, Down Town Dubai, Arabian Ranches, Burj Khalifa, and Dubai Marina.

The event, which took place at the Armani hotel in the Burj Khalifa two weeks ago, was so successful that Unicef doubled the initial estimates of what could be done with the money. The organisers now plan to run an annual fund-raiser that focuses on a different element of the reconstruction and rebuilding effort in Pakistan.

The gallery will hold the opening ceremony at Residences 2, Shop S-08 in Downtown Dubai, on Burj Khalifa Lake. A ‘concept’ gallery founded by Moza Mohammed Al Abbar, the gallery aims to expose young and aspiring artists from around the Arab world.

"The Dubai Mall site is something we've been working on for over a year and will certainly take the brand to a new level in the market." It is also the public entrance to the world's tallest building, the Burj Khalifa, which at 828m tall is 2.5 times the height of Auckland's Sky Tower.

The global consultancy expects sales prices in residential sector to stabilize in selected locations with service charges and quality of management becoming primary drivers of demand and price trends. “Though rents and prices will continue to fall, locations such as Dubai Marina, Palm Jumeirah and Burj Downtown are showing signs of stability,” Plumb added.

It was going to be called Burj Dubai, but as Dubai was unable to make their payments, they were forced to go to their Gulf neighbor, head towel in hand, to get a loan. So now it’s called Burj Khalifa, after Abu Dhabi’s ruler, who coughed up $10 billion to its over-extended neighbor.

Dubai World, the government owned conglomerate will sign the final deal on its nearly $25 billion debt restructuring deal with its creditors next week, said Shaikh Ahmad Bin Saeed Al Maktoum, chairman of Dubai’s Supreme Fiscal Committee and Chairman of the conglomerate, yesterday.

The company best known for developing the world's tallest tower, the Burj Khalifa, gained more than 9 per cent in the last three trading days of the week, closing at Dh2.68 per share yesterday. However, that is still about 50 per cent below the company's book value of Dh5.10.