The National

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.

A problem with being paid for work on the world tallest building is weighing on Depa's bottom line. Net profits will be "significantly impacted" due to the unresolved claim for the Burj Khalifa work, the Dubai interior contracting company announced yesterday.

Many members of the Pakistani community also attended the event at Burj Khalifa's Armani Hotel on Friday. Sheikh Nahyan, who described the relationship between Pakistan and the UAE as one of "common heritage and culture", donated Dh1 million to the cause.

Mr Mahmoud said it was an established trend among operators in the luxury properties market, including Four Seasons and Ritz-Carlton, to have private residences incorporated into a hotel. The Armani hotel in the Burj Khalifa also uses this model.

"We wanted to take the Big Bus tour but were told it would take three hours," said Jane Lehman, a tourist visiting from the UK with her husband, John. "Then we saw this bus pull up and hopped on it instead. It's lovely and clean and the 30minute tour was exactly what we were looking for."

Emaar and other Dubai home developers have been aggressively working to diversify their portfolios in recent years, in the wake of the downturn in the emirate. The companies are casting a wide net, trying to tap into markets with more activity than Dubai.

Dubai's stock market hit a new low as concerns grew over social unrest and its impact on stronger oil-rich economies in the region. The Dubai Financial Market (DFM) slipped 3.5 per cent to 1,374.43 points and heavyweight stocks fell to new lows. Emaar Properties, the Dubai developer of the world's tallest tower, the Burj Khalifa, ended 6 per cent to Dh2.50, after its shares fell to 1-year low during intraday trading.

Construction companies that aggressively moved to diversify into other countries during the downturn in Dubai property have seen their shares sold heavily due to the political turmoil in the Mena region. Egypt has become a key market for several UAE builders. Emaar, best known for constructing the Burj Khalifa - the world's tallest building - in Dubai, now has projects valued at Dh4.2 billion (US$1.14bn) in Egypt, about 15 per cent of its book value.

Owning an apartment inside the Burj Khalifa, the tallest building in the world, is the ultimate accomplishment for Daryl Patni. Mr Patni, 42, a Mumbai native who has lived in Dubai for much of his life, started out as a ground crew member for Emirates Airline before setting out on his own to become a commercial photographer. He lived in Bur Dubai and Jumeirah Lake Towers but dreamed of buying a home in the Burj.

"A fantastic and very rare opportunity in Dubai and in the world. This huge, four-bedroom apartment with stunning views over Dubai is located above the 100th floor. (Residential units in the Burj Khalifa are only up to the 108th floor.) "From all rooms of the apartment the owner enjoys views over the blue sea, the skyline of Sheikh Zayed Road, Dubai Creek, Zabeel Palace of Skeikh Mohammed, the Dubai Mall, Old Town with the fountain, the desert and Business Bay.