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Revealed: Dubai’s 10 priciest properties
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.
Armani sellers want AED30m for 2-bed flat
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.
World’s tallest residential tower set for Dec completion
Tameer Holding Investment on Sunday said the world’s tallest residential tower will be completed in December. The property developer said its Princess Tower project in Dubai was on schedule and the superstructure of the project was now complete. The tower will rise to 414m (1,358ft) and will be second only in height to the Burj Khalifa.
BlackBerry PlayBook makes its UAE debut
The PlayBook, which was showcased at a launch event at Dubai’s Armani Hotel, was released in the US on April 19. Canadian makers Research in Motion (RIM) were forced to recall around 1,000 of the devices in May after they were shipped with a flawed operating system.
Sharjah plans fountain project to rival Burj Khalifa
Sharjah plans to rival Dubai’s Burj Khalifa development with the launch of a waterfront project set to spearhead a real estate ‘renaissance’ in the emirate, Cluttons said in a report Sunday. The emirate’s investment authority, Shurooq, is transforming Al Majaz Park on the Al Buhaira Corniche into a social hub, featuring a fountain centerpiece and rows of hotels and restaurants.
Saudi must cut red tape to boost real estate speed
The chairman compared Jeddah Gate with the Burj Khalifa, the world’s tallest tower built by Emaar in Dubai. “The two projects both began in May 2005,” he said. “Burj Khalifa was opened, while Jeddah Gate is still under construction.”
HE Sultan Bin Saeed Al Mansoori’s speech in full
The UAE Minister of Economy’s keynote speech from the 4th Arabian Business Forum is shown in full below. HE Sultan Bin Saeed Al Mansoori is the UAE’s minister of economy. He was speaking at the 4th Arabian Business Forum, held at the Armani Hotel Dubai on May 23, 2011
The legend of Rocco
Flamboyance is perhaps the first word you’d associate with Sir Rocco Forte. Despite having just stepped off the plane from London, the man who is pretty much regarded as hospitality royalty sweeps cheerfully into Dubai’s Armani Hotel, where a selection of his firm’s nervous general managers are waiting for him.
Emaar sets up senior team to develop new action plan
Emaar Properties said on Saturday it had set up a new team of senior managers and consultants to develop a five-year action plan. The Dubai-based developer of the Burj Khalifa, the world’s tallest tower, said the team would “develop and roll-out a five-year corporate strategic action plan for long-term value creation”.
‘I’m not leaving Emaar,’ says Mohamed Alabbar
Mohamed Alabbar is not planning to step down from his role as chairman of property firm Emaar, despite spending an increasing amount of time on a private mining company.
