Gulf News

"If a one-bedroom property in Downtown (Burj Khalifa) costs Dh75,000 per annum or Dh6,250 per month, a monthly mortgage repayment costs less. The same property might cost Dh1 million to purchase and if 20 per cent of its value is paid as a deposit over a 25-year period with a mortgage rate of 5.5 per cent, the monthly repayments would be Dh4,900," he explained.

Downtown Dubai is like a movie set. A luxury trolley bus slowly rolls along the Boulevard in Old Town, transporting you back in time. The architecture reflects the gypsum clay used in the early 20th century.

After a lacklustre launch in North America in early April, the new BlackBerry PlayBook was rolled out for the first time outside of the Western markets at a special preview in Dubai. "This was positioned as enterprise, but it doesn't even come with some critical elements for business people," said one guest among Dubai's young tech set gathered at the Armani Prive in Burj Khalifa.

Giorgio Armani Group said it achieved turnover of more than €6 billion (Dh31.38 billion) in 2010, with net profit rising 80 per cent over 2009 to €161.0 million. The group, which operates the Armani Hotel in Dubai's Burj Khalifa, also announced the opening of more than 80 points of sale in 2010, with worldwide shops, branded facilities and outlets amounting to 1,800.

The Dubai Government yesterday took over Dubai Bank, an Islamic bank owned by Dubai Holding and Emaar Properties, ending several months of speculation on the future and financial strength of the bank.

Brian Caldwell, a resident of the Old Town Island in Downtown Dubai is proud to call the area home. "Back in the UK, everyone is astounded when I tell them I live next door to the world's tallest tower. It's a monument they watch on TV and cannot believe that for me, it's my everyday reality."

I almost loathe to share with you my new secret place in Dubai for fear of y'all stampeding it, resulting in yours truly not being able to get a table anymore! But in the spirit of passing good news along and spreading the love, and the fact that no doubt the good news is circulating like juicy gossip, my new oasis in the desert is The Pavilion Downtown Dubai.

Saudi Arabia's Kingdom Holding Co has approved a plan to build the world's tallest building, the Saudi Gazette reported. The 275-floor Kingdom Tower will be 1.6km tall, twice the height of Dubai's Burj Khalifa, the world's tallest skyscraper.

With its central location, competitive rents and spacious homes, Business Bay is on its way to being the Destination of the Future. A residential cum commercial community, the area, which runs alongside Al Khail Road, has more and more people calling it home.

Crowds of people gathered on the Dubai Mall Boulevard faced great disappointment as rumours circulated Alain Robert, the French Spiderman, would not climb Burj Khalifa due to windy conditions. Yet at 6.10pm on Monday evening Robert took his first foothold on the world's tallest tower with one aim — to reach the top.