Burj Khalifa to boost Dubai economy

26/01/2010 - Dubai Property News
Burj Khalifa to boost Dubai economy
Posted by Neil King

The opening of the world's tallest tower in Dubai will have direct economic benefits for the emirate of Dubai, it has been claimed.

According to AME Info, while Dubai has suffered at the hands of the global economic downturn like many other nations there is growing confidence that an economic recovery is around the corner.

According to recent figures from Landmark Properties, while residential sales in Downtown Burj Dubai are down on the DHS14,500 per square foot peak, rent rates in the region have climbed by 13 per cent.

"The most significant impact of the launch of Burj Khalifa will be the overall master development surrounding the tower," the organisation's director of sales and leasing Michael Michael told AME Info.

"Even though the final completion is not expected in the medium term, a large and functional portion of the area is completed," he added.

Earlier this month, a YouGov Siraj survey of 811 UAE residents showed that 90 per cent believed the Burj Khalifa had boosted national pride.ADNFCR-2019-ID-19579095-ADNFCR