Posted by Bob Brunskill
Emaar Properties has said that it will realise revenues from the sale of properties at Burj Khalifa, the world's tallest building, during the 2010 financial year.
The developer, which is 31.2 per cent owned by the Dubai government, said last year that it would only recognise revenues from its projects after successful delivery, the Khaleej Times reported.
Burj Khalifa opened on Monday to global media coverage as Emaar hailed the structure as another demonstration of Dubai's property investment potential.
The firm said that, in addition to the wide range of available units for sale at Burj Khalifa, the revenue boost in 2010 will come through hospitality such as the opening of the world's first Armani Hotel at the complex.
Earlier this week, Dubai's ruler Sheikh Mohammed bin Rashid Al Maktoum said that the opening of Burj Khalifa is evidence that the UAE economy is robust and ready to confront any challenge.
In comments published by the news agency WAM, he added that the global economic crisis had caused more damage to other economic superpowers around the world than it had to the UAE.