Originally known as, the Dubai Tower or Burj Dubai, the world’s tallest skyscraper has been renamed as Burj Khalifa. The Burj Khalifa has been given this name in honor of the legendary UAE president and its leader, Khalifa Bin Zayed, of neighboring Abu Dhabi who offered financial assistance to Dubai to repay back its huge debts and come out of financial crisis. Today, it has become one of the favorite world class destinations and has acquired the status of a magnificent centerpiece on earth. It is based at one of the commercially most active and happening Gulf Emirate of Dubai.
This building has 162 floors and its height is near about 828 meters or 2,717 feet’s including the spire. Thus, this skyscraper has now become the tallest building in the world a record previously held by Taiwan's Taipei 101, around 508 meters or 1,667 feet height.
Some of the features of this building are that it has more usable floors than any other skyscrapers in the world. It has around 1,000 plus luxurious apartments, office space of around 49 floors, and a hotel known as Armani. It includes an observation deck on the 124th floor and the 76th has a swimming pool, which are at the highest point ever on any building on earth. Moreover, due to the height of building there is almost 10 degrees Celsius temperature difference between top and base floor, which means the top of building is 10 degrees cooler than the base.
As per leading architect George Efstathiou, this building indicates the perseverance of the Emirates and it indicates the optimism about Dubai reviving itself as the center and most elite city of the Middle East. In addition, chairman Mohammed Alabbar of Emaar Properties, the buildings’ developer, considers this building an icon, which will lead to a prosperous future in the U.A.E.
However, one can find some adverse reactions on the internet or various media that the removal of word Dubai from its name and replacement of it with the name of Khalifa indicates that this Emirate is still dependent on its oil and cash rich neighbor, Abu Dhabi.
Many international as well as regional organizations have been showing interest for huge investments in the real estate markets of Dubai. They hope of a great future for the real estate market at Dubai because of strong government support, tax free environment, free zones, and business friendly environment attracting huge migration of professionals and businesses from across the world to this Emirate.
The real estate market would be the major drivers for the faster economic growth ofDubai, since it has shifted its focus on business and tourism as the primary income generators than the traditional oil dependence as source of income. Due to this changed environment and huge investments in real estate,Dubaiis becoming one of the major shopping, business and tourism hubs of the world.
Like Burj Khalifa,Dubai's economy is on its way to become one of fastest growth economies in world.