Showing posts with label Economy Of Dubai. Show all posts
Showing posts with label Economy Of Dubai. Show all posts

Sunday, 25 November 2012

World Tallest Tower Burj Khalifa

Burj Khalifa


BURJ KHALIFA'S GRAND VISION

World's tallest building. A living wonder. Stunning work of art. Incomparable feat of engineering. Burj Khalifa is all that. In concept and execution, Burj Khalifa has no peer.
More than just the world's tallest building, Burj Khalifa is an unprecedented example of international cooperation, symbolic beacon of progress, and an emblem of the new, dynamic and prosperous Middle East.
It is also tangible proof of Dubai's growing role in a changing world. In fewer than 30 years, this city has transformed itself from a regional centre to a global one. This success was not based on oil reserves, but on reserves of human talent, ingenuity and initiative. Burj Khalifa embodies that vision.
Mr Mohamed Alabbar, Chairman, Emaar Properties, said: "Burj Khalifa goes beyond its imposing physical specifications. In Burj Khalifa, we see the triumph of Dubai's vision of attaining the seemingly impossible and setting new benchmarks. It is a source of inspiration for every one of us in Emaar. The project is a declaration of the emirate's capabilities and of the resolve of its leaders and people to work hand in hand on truly awe-inspiring projects.  
Emaar had but one inspiration, the unflagging enthusiasm set in motion by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, who inspires us to reach for the stars.
Bringing Burj Khalifa to life required a combination of visionary ideals and solid science. In the process, the project amassed an awe-inspiring number of facts, figures, and statistics.
World Records

At over 828 metres (2,716.5 feet) and more than 160 stories, Burj Khalifa holds the following records:
•  Tallest building in the world
•  Tallest free-standing structure in the world
•  Highest number of stories in the world
•  Highest occupied floor in the world
•  Highest outdoor observation deck in the world
•  Elevator with the longest travel distance in the world
•  Tallest service elevator in the world 
Tallest of the Supertall

Not only is Burj Khalifa the world’s tallest building, it has also broken two other impressive records: tallest structure, previously held by the KVLY-TV mast in Blanchard, North Dakota, and tallest free-standing structure, previously held by Toronto’s CN Tower. The Chicago-based Council on Tall Buildings and Urban Habitat (CTBUH) has established 3 criteria to determine what makes a tall building tall. Burj Khalifa wins by far in all three categories.  

Height to architectural top

Height is measured from the level of the lowest, significant, open-air, pedestrian entrance to the architectural top of the building. This includes spires, but does not include antennae, signage, flagpoles or other functional-technical equipment. This measurement is the most widely used and is used to define the Council on Tall Buildings and Urban Habitat rankings of the Tallest Buildings in the World.
             
Highest occupied floor

Height is measured from the level of the lowest, significant, open-air, pedestrian entrance to the highest continually occupied floor within the building. Maintenance areas are not included.
           
Height to tip

Height is measured from the level of the lowest, significant, open-air, pedestrian entrance to the highest point of the building, irrespective of material or function of the highest element. This includes antennae, flagpoles, signage and other functional-technical equipment.

'AT THE TOP' - BURJ KHALIFA'S OBSERVATION DECK

The high point of any Khalifa experience is the view from At The Top, Burj Khalifa's observation deck. Located on level 124 of the world's tallest tower, this observatory is destined to be the highlight of any visit to the Middle East.
The journey begins in the lower ground level of The Dubai Mall. Throughout the journey to the top, visitors are entertained by a multi-media presentation of the exotic history of Dubai and the marvel of Burj Khalifa.
Take home a lasting memento of your At The Top experience. Shop at either of two At The Top boutiques: on Level 124 for ticket holders, or the publicly accessible boutique on the lower ground level of The Dubai Mall.


OPENING CEREMONY VIDEO 


Economy Of Dubai


Economy Of Dubai


Dubai's gross domestic product as of 2008 was US $82.11 billion. Although Dubai's economy was built on the back of the oil industry, revenues from oil and natural gas currently account for less than 7% of the emirate's revenues. It is estimated that Dubai produces 50,000 to 70,000 barrels (11,000 m3) of oil a day and substantial quantities of gas from offshore fields. The emirate's share in UAE's gas revenues is about 2%. Dubai's oil reserves have diminished significantly and are expected to be exhausted in 20 years. Real estate and construction (22.6%),[11] trade (16%), entrepĂ´t (15%) and financial services (11%) are the largest contributors to Dubai's economy. Dubai's top exporting destinations include India (US$ 5.8 billion), Switzerland (US$ 2.37 billion) and Saudi Arabia (US$ 0.57 billion). Dubai's top re-exporting destinations include India (US$ 6.53 billion), Iran (US$ 5.8 billion) and Iraq (US$ 2.8 billion). The emirate's top import sources are India (US$ 12.55 billion), China (US$ 11.52 billion) and the United States (US$ 7.57 billion). As of 2009 India was Dubai's largest trade partner.

Historically, Dubai and its twin across the Dubai creek, Deira (independent of Dubai City at that time), were important ports of call for Western manufacturers. Most of the new city's banking and financial centres were headquartered in the port area. Dubai maintained its importance as a trade route through the 1970s and 1980s. Dubai has a free trade in gold and, until the 1990s, was the hub of a "brisk smuggling trade" of gold ingots to India, where gold import was restricted. Dubai's Jebel Ali port, constructed in the 1970s, has the largest man-made harbour in the world and was ranked seventh globally for the volume of container traffic it supports. Dubai is also a hub for service industries such as information technology and finance, with industry-specific free zones throughout the city. Dubai Internet City, combined with Dubai Media City as part of TECOM (Dubai Technology, Electronic Commerce and Media Free Zone Authority) is one such enclave whose members include IT firms such as Hewlett-Packard, EMC Corporation, Oracle Corporation, Microsoft, and IBM, and media organisations such as MBC, CNN, BBC, Reuters, Sky News and AP.
The government's decision to diversify from a trade-based, oil-reliant economy to one that is service and tourism-oriented made property more valuable, resulting in the property appreciation from 2004–2006. A longer-term assessment of Dubai's property market, however, showed depreciation; some properties lost as much as 64% of their value from 2001 to November 2008. The large scale real estate development projects have led to the construction of some of the tallest skyscrapers and largest projects in the world such as the Emirates Towers, the Burj Khalifa, the Palm Islands and the world's fourth tallest, and most expensive hotel, the Burj Al Arab. The Dubai Financial Market (DFM) was established in March 2000 as a secondary market for trading securities and bonds, both local and foreign. As of fourth quarter 2006, its trading volume stood at about 400 billion shares, worth $95 billion in total. The DFM had a market capitalisation of about $87 billion. The other Dubai-based stock exchange is NASDAQ Dubai, which is the international stock exchange in the Middle East. Its unique market enables a range of companies, including UAE and regional small and medium-sized enterprises, to trade on an exchange with an international brand name, with easy access by both regional and international investors.
Dubai's property market experienced a major downturn in 2008 and 2009 as a result of the slowing economic climate. Mohammed al-Abbar, Chief Executive Officer of Emaar told the international press in December 2008 that Emaar had credits of $70 billion and the state of Dubai additional $10 billion while holding estimated $350 billion in real estate assets. By early 2009, the situation had worsened with the global economic crisis taking a heavy toll on property values, construction and employment. This has had a major impact on property investors in the region, some of whom are unable to release funds from investments made in property developments. One such example of this is the Vue De Lac development, which was featured in a British ITV1 documentary Homes from Hell in 2010. As of February 2009 Dubai's foreign debt was estimated at approximately $80 billion, although this is a tiny fraction of the sovereign debt worldwide.
Dubai is also known as City of Gold, a major part of economy based on Gold trades in Dubai, Dubai's total gold trading volumes in H1 2011 reached 580 tonnes (average price US$1,455)
A City Mayors survey rated Dubai as 44th among the world's best financial cities in 2007, while another report by City Mayors indicated that Dubai was the world's 33rd richest city in 2009, in terms of purchasing power parity (PPP). Dubai is also an international financial centre and has been ranked 37th within the top 50 global financial cities as surveyed by the MasterCard Worldwide Centres of Commerce Index (2007), and 1st within the Middle East.