NEWS

Liz O'Connor, director of residential sales and leasing at Better Homes said that she has seen some distressed sales entering the market, especially as the final payments on properties becomes due. “There are some distress sales in the market… We have seen secondary Burj Khalifa properties coming on line; for many owners the final installment is due to be paid shortly which is promoting some to sell,” said O’Connor.

The global economic crash did not spare Dubai. But the economic crisis did not deter the January opening of the Burj Khalifa, the tallest building in the world — by a lot.

Dubai World's total debt, including liabilities, is around 60 billion dollars. Dubai's total debt is estimated at between 80 and 100 billion dollars, although some analysts say it could be as high as 170 billion.

They are trying to draw air passengers by giving free tickets to kids, open bus tours, plush cabin interiors, view from Burj Khalifa, complimentary stay at Dubai’s Armani Hotel, online visa and a host of other value-adds that don’t come during the off-seasons.

Reebok, the sportswear brand owned by the German giant Adidas, is stepping up its presence in the Gulf with trainers tailored for a trip to the Burj Khalifa.

The Palace - The Old Town is owned and operated by Emaar Hospitality Group's 5 star premium hotel brand, The Address Hotels + Resorts. The landmark hotel features 242 beautifully-appointed deluxe rooms including 81 suites, all with balconies overlooking Burj Lake or The Old Town Island.

The first residents have moved into the Armani Residences inside Burj Khalifa, the world's tallest building. Emaar Properties, the developer of the mixed-use tower, has handed over homes to buyers of the designer apartments and one of the new residents, Sarah Belhasa, has shown Arabian Business TV around her home.

Global investors put their faith in Dubai's economy, making the emirate the first and most-preferred choice for future investments in the Middle East, according to an international survey released yesterday. And 81 per cent of those surveyed who have investments in Dubai plan to maintain or increase their investments in the next three years.

First Class passengers receive a two-night stay with breakfast at the newly opened Armani Hotel Dubai, while Business Class passengers get a one-night stay with breakfast at The Address Downtown Dubai. With the offer, premium passengers also get the chance to experience literally being on top of the world with priority tickets to the ‘At the Top, Burj Khalifa’.

Residents have access to the amenities at the newly-opened Armani Hotel Dubai, including eight shops and a spa, as well as the Burj Khalifa’s four swimming pools, residents’ lounge, health and fitness facilities, and At.mosphere, a restaurant on Level 122.