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FINANCIAL NEWS
Emaar says 80% of Burj Khalifa inhabited
04 Jul 2012
(MENAFN) Emaar Properties confirmed that Burj Khalifa, the world’s tallest building, is 80 percent occupied, despite falling property prices and rental rates at the iconic tower, Wall Street Journal reported.
The Dubai-based developer said that Burj Khalifa currently hosts more than 700 families, just two and half years after it was opened.
Property prices for luxury apartments in the tower dropped to USD571 per square foot, while experts attributed the fall to high service charges and distressed sales.
Burj Khalifa saw property prices in Dubai more than halve months after its launch in 2010, hit by the global financial crisis.
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