Tag: dubai

Burj Dubai’s opening ceremony tonight [Infographic]

It has been over five years since the Burj Dubai began construction on 21 September 2004, however tonight the world’s tallest building will be given a lavish opening ceremony, assuaging any fears that the emirate is still reeling from last year’s debt crisis.

Emaar Properties, the site’s developer, are planning to throw a massive display of “sound, light, water and fireworks” to celebrate the opening and completion of the 818m-tall tower. However, whilst the exterior of the super skyscraper is complete, an army of workers are still labouring to fit out the 162-floor building.

 

burj dubai

Source: http://www.menainfra.com

Is Dubai about to hang itself? [Infographic]

One of the emirate’s largest investment companies, state-owned Dubai World, has asked for a delay on repaying its US$60 billion debt until at least May. The company’s real estate arm, Nakheel – whose projects include the palm-shaped islands in the Gulf – shoulders the bulk of money due to banks, investment houses and outside development contractors.

This has added to fears among investors that have existed for some time since the recession hit, over the financial health of Dubai. But it gets even worse.

 

dubai world thumb

Source :  busmanagementme.com