BUSINESS & JOBS

“If Burj Khalifa put Dubai and Emaar Properties in the global spotlight and added to our track record in project delivery, the performance of Emaar’s business segments highlighted our role as an integrated property developer adding long-term value to our stakeholders.”

Emaar Properties PJSC, a global property developer with a significant presence in key markets worldwide, announced today first quarter 2010 revenue of AED 2,886 million (US$ 786 million), underpinned by the robust performance of the company’s hospitality and shopping mall subsidiaries during a period when the company opened the world’s tallest building, Burj Khalifa.

Burj Khalifa scooped the top accolade at Cityscape Abu Dhabi, with judges praising the 828 meter tower in downtown Dubai as ‘truly iconic’. The Burj, designed by SOM architects for developers Emaar, won best mixed use category just weeks after re-opening to the public following problems with its lifts.

Burj Khalifa, the tallest building in the world, which forms the iconic centerpiece of Downtown Dubai, was named the winner in the 'mixed use project' category at the Cityscape Awards ceremony held in Abu Dhabi.

When the downturn hit the Indian real estate sector, the first thing many companies did was to shelve their hospitality plans. Some of them are now returning to the hotel business, and Emaar MGF does not want to miss the bus. Emaar Properties, who built the world's tallest tower Burj Khalifa in Dubai earlier this year, is now looking at reviving its hospitality plans in the Indian market.

Emaar Properties has announced it will roll over its US $1.32 billion (AED4.84 billion) debts into long-term project funding as fears recede of a repeat of the bail-out needed for stricken developer Nakheel. On Sunday it announced that Burj Khalifa is to tap solar power for residential water heating, using technology installed and operated by SOLE UAE Solar Systems.

Engorged with Abu Dhabi's substantial oil surpluses, ADIA's assets are estimated at between $300 billion and $800 billion. It was Abu Dhabi's wealth that helped bail out sister city-state Dubai when it ran short of funds to complete the world's tallest building — which was then renamed the Burj Khalifa after the President of the U.A.E.

Dubai , which attracted the world's attention recently with the inauguration of Burj Khalifa; the world's tallest skyscraper, has always been a prime destination for foreign investment. The Dubai government has been consistent in reviewing and aligning regulatory framework to cater to new challenges in maintaining its leading position as a major commercial, industrial and trading hub in the region.

Carrara has recently executed the supply and installation of about 120,000 sq m of natural stone for the Burj Khalifa project and its work portfolio includes projects such as Burj Al Arab, Royal Mirage Hotel, Yas Island Marina Hotel, Aldar headquarters, Turkmenistan Parliament Building, Presidential Palace and President Hotel.

FROM the tallest building in the world, the Burj Khalifa, Sheikh Mohammed bin Rashid al-Maktoum should be master of all he surveys. But there are a few problems for the ruler of Dubai: the murk of dust and exhaust that lays heavy on the desert metropolis makes it very hard to see to the bottom, while the lifts of the newly opened building are not working, making it impossible to get to the top.