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Dubai Opens Tallest Tower
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godoftrading
Jan 5, 2010, 11:23:49 PM1/5/10
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Jan. 4 (Bloomberg) -- Dubai’s Sheikh Mohammed bin Rashid Al
Maktoum opend the world’s tallest this week. It won’t be
the world’s fullest.
The occupancy rate at Burj Dubai may reach 75 percent this year, with
office leasing proving the biggest challenge for investors, said Roy
Cherry, an analyst at investment bank Shuaa Capital PSC. While mainly
residential, the 160-story tower will include 37 floors of office and
retail space.
“Those who bought with the intention of leasing will face a
difficult time, because few companies today can justify paying premiums
for luxury,” Cherry said.
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